Domestic production has reduced imports approximately 83% since peak As of March of this year, the EIA estimates that the United States Gulf Coast imports approximately 1.8 million barrels of crude oil per day (BOPD), the lowest recorded rate since 1986. The highest recorded rate of imports occurred in Mach of 2007 when the average was approximately 6.6 million BOPD.
By Tyler Losier, Energy Reporter, Oil & Gas 360 Chansoo Joung joins Tulsa, Oklahoma Company Magellan Midstream Partners, L.P. announced this morning that it has elected Chansoo Joung as an independent board member, effectively immediately. Previously, Joung worked in the energy sector of the finance industry as a partner and senior advisor for Warburg Pincus LLC from 2005 to
Increasing production and mismatch between crude oil type and refinery configuration allows for more of the increasing U.S. crude oil production to be exported The Gulf Coast is the first region to export more crude oil than it imports since the West Coast saw small net exports in early 1990s U.S. crude oil production boomed in 2018 and so did
Infrastructure build and industrial boom spark tensions, concerns with Texas coastline residents From The Texas Tribune PORT ARANSAS — Texas, home to the most prolific oilfield in the country, is at the epicenter of the frenzy. More than 80 plants, terminals and other projects are in the works or planned up and down the state’s Gulf Coast, from Port Arthur to
From Reuters NEW YORK (Reuters) – Enterprise Products Partners LP said on Wednesday it could convert one of its natural gas liquids (NGL) pipelines to crude oil out of the Permian basin as early as the second quarter of 2019, ahead of an earlier timeline of 2020. The startup of the Shin Oak pipeline, expected in the second quarter
From Reuters The delay of a U.S. Gulf Coast liquefied natural gas (LNG) export project has crystallized fears that the U.S. trade battle with China is hampering efforts to line up buyers needed to move ahead with multi-billion-dollar builds. The United States is positioning itself as the dominant provider of the supercooled fuel as Asian nations shift away from dirtier
Energy XXI Gulf Coast Provides Update on Merger With Affiliates of Cox Oil LLC
Enterprise and American Midstream to Optimize Gulf Coast Assets
From Bloomberg As Shale Boosts Exports, Some Push to Set Price on Coasts, but Oil Stored in Middle of America is Longtime Standard in Market Rapid increases in U.S. oil output and exports over the past two years are forcing some traders and producers to try alternative ways of pricing crude. While the market benchmark remains West Texas Intermediate crude
From the Houston Chronicle The U.S. is soon expected to become a dominant player in the global market for liquefied natural gas as Gulf Coast companies build massive terminals to serve overseas markets and the federal government considers looser regulations for small-scale exports closer to home. Officials, executives and consultants at the S&P Global Platts annual LNG conference in Houston
Denbury Resources Inc. (ticker: DNR) released its preliminary year-end 2017 proved reserves, production and capital expenditures, along with its 2018 capital budget and estimated annual production. Preliminary Q4 2017/annual production Denbury’s production averaged 61,144 BOEPD (97% oil) during the fourth quarter of 2017, with CO2 tertiary properties accounting for 65% of overall production. Denbury’s continuing production for full-year 2017 averaged
Since the finalization of its restructuring on December 30th, 2016, Energy XXI Gulf Coast (ticker: EXXI) has begun taking steps to bring additional production online and optimize existing production. EXXI in the GOM Energy XXI itself is focused solely on operations in the Gulf of Mexico, where it holds 109.4 MMBOE of proved reserves, of which 80% is oil, 2%
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