Friday, December 27, 2024

Iran tanker shifts position but still at anchor off Gibraltar

From Reuters An Iranian tanker caught in the standoff between Tehran and the West shifted position on Friday, but its anchor was still down off Gibraltar and it was unclear if it was ready to set sail soon. Gibraltar authorities could not be reached for comment. The Grace 1 was seized by British Royal Marines at the western mouth of

Saudi Arabia is dramatically changing its oil exports to China and the US

From CNBC Saudi Arabia has seriously ramped up its oil exports to China in recent months. How dramatic is the change? Take a look at this graph, which uses data from oil tanker tracking firm TankerTrackers.com.     The Saudi Kingdom’s crude shipments to China have doubled in the span of a year. During the same period, its oil exports

EPIC Midstream ships first crude on new Permian pipeline to Gulf Coast

From Reuters EPIC Midstream Holdings Inc on Thursday began shipping crude oil on its 400,000 barrel per day (bpd) pipeline from the Permian Basin to the U.S. Gulf Coast, pushing Midland crude prices higher, traders said. Terminal operator Moda Midstream LLC confirmed it would be accepting the Permian crude from the EPIC line at its facility in Ingleside, Texas, by

Oil rises alongside equities, but downbeat OPEC outlook caps gains

From Reuters Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns. But oil’s gains were capped after the Organization of the Petroleum Exporting Countries trimmed its global oil demand forecast in a downbeat outlook for the rest of 2019 as economic growth slows. The cartel

NuStar receives first shipment of Permian Basin crude oil at Corpus Christi terminal

From The Houston Chronicle San Antonio pipeline operator NuStar Energy received the first shipment of Permian Basin crude oil at the company’s Corpus Christi export terminal. NuStar recently completed work connecting its Corpus Christi North Beach Export Terminal to the Cactus II Pipeline, a Permian Basin to Gulf Coast project developed by Houston-based Plains All American Pipeline LP. After being transported

Kinder Morgan to invest $170 million in Houston Ship Channel projects

From The Houston Chronicle Houston pipeline operator Kinder Morgan plans to invest $170 million in various expansion projects along the Houston Ship Channel. The company confirmed on Wednesday that it plans to invest $125 million to boost pipeline connections and speed up loading at its Pasadena Terminal and the nearby Jefferson Street Truck Rack. Another $45 million will be used