By Tyler Losier, Energy Reporter, Oil & Gas 360 Secretary of State Mike Pompeo announces sanctions for Zhuhai Zhenrong and its chief executive The United States government will be imposing sanctions on Zhuhai Zhenrong Company Limited, a state-run oil company in China, and its chief executive for purchasing crude oil from Iran. On Monday, Secretary of State Mike Pompeo announced
From Bloomberg Iran-owned tankers continue to haul shipments to bonded tanks, oil held by Iran’s state-owned producer and Chinese companies Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world’s biggest buyer. Two and a half months after the White House banned the
By Tyler Losier, Energy Reporter, Oil & Gas 360 The United States has been a net exporter of natural gas since 2017 In the United States, natural gas is one of the most prevalent sources of energy, and according to the EIA, in 2018, 90% of the natural gas consumed by Americans was produced domestically. In general, thanks to the
By Tyler Losier, Energy Reporter, Oil & Gas 360 Two vessels seriously damaged after seemingly intentional strike Two tankers were attacked Thursday near the Strait of Hormuz in the Gulf of Oman, leading to a spike in oil prices as markets opened today. U.S. officials are blaming Iran for the incidents; however the country has vehemently denied any involvement. Source:
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.
From Reuters The European Union will seek to double imports of liquefied natural gas (LNG) from the United States by 2023, as part of its efforts to ease transatlantic trade tensions and reduce its reliance on Russian gas. U.S. Energy Secretary Rick Perry and EU Energy Commissioner Miguel Arias Canete hold a joint news conference at the EU Commission headquarters
From Bloomberg First time Asian nation didn’t import from U.S. since 2016: refiners still worried about U.S. crude import tariff Even though Beijing hasn’t sanctioned American oil imports yet, Chinese buyers aren’t taking any chances. The world’s second largest economy halted purchases of U.S. crude in August for the first time since September 2016, according to U.S. Census Bureau data released Friday.
On track to become world’s largest LNG user – surpassing Japan From: Xinhua BEIJING, Sept. 23 (Xinhua) — China imported 4.71 million tonnes of liquefied natural gas (LNG) in August, up 51.5 percent year on year, the country’s customs authority said Sunday. Total LNG imports in the first eight months reached 32.63 million tonnes, up 47.8 percent year on year,
Egypt is the largest non-OPEC oil producer in Africa and the third-largest dry natural gas producer on the continent, according to the EIA’s newest report on Egypt. In recent years, the country has seen political instability accompanied by growing power demand and a recovering energy industry. Natural gas supply shortages often cause frequent blackouts in Egypt – and 2011’s political
The Arctic National Wildlife Refuge (ANWR) is located on the northern coast of Alaska, due east of both Prudhoe Bay and the National Petroleum Reserve-Alaska (NPRA). The coastal plain (the 1002 Area) covers 1.5 million acres and is about 8% of the total area of ANWR. In its latest (1998) resource assessment, the United States Geological Survey (USGS) estimated that
The production cuts may have erased the surplus, but for how long? Stored petroleum around the world fell through 2017 and the first quarter of 2018, ending a period of oversupply in the global market that began before OPEC began production cuts in November 2016, according to data from the EIA. The production cuts took effect in January 2017, reducing
Stiff U.S. competition, an inter-province pipeline row prolongs limited export opportunity, and U.S. is its only big export customer With U.S. shale on a tear, imports are dropping Total U.S. crude production reached 10 MMBOPD in November 2017 and the Canadian Industrial Outlook report from The Conference Board of Canada estimates that U.S. production will pass 11 MMBOPD in
