US Crude Oil Exports at 15-year High

Posted by Eric Haun
Monday, June 16, 2014

Crude oil exports from the United States were 268,000 barrels per day in April, the highest in 15 years, with almost all of the oil delivered to Canada, the U.S. Energy Information Administration said on Monday.

Exports have increased sharply since the start of 2013 and have exceeded 200,000 bpd in five of the past six months.

The EIA, the statistical arm of the U.S. Department of Energy, said the increase was largely the result of sharply rising U.S. crude production.

Congress banned most U.S. crude oil exports after price shocks from the 1973 Arab oil embargo led to the notion that the United States was running out of oil.

For the kinds of exports that are allowed, including sales to Canada and shipments from Alaska's Cook Inlet, U.S. companies need a license from the Bureau of Industry and Security (BIS), part of the Department of Commerce.

Most of the recent surge in shipments to Canada has been from the U.S. Gulf Coast region. Such shipments averaged 134,000 bpd in the first quarter, up 283 percent from the 2013 average.

In the first quarter of 2014, nearly 75 percent of Gulf Coast exports have left the region from the Houston-Galveston district, in Texas. The remaining barrels were loaded in Port Arthur, Texas and New Orleans, Louisiana, the EIA said.

(Reporting by Ros Krasny; Editing by Chris Reese)

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Brookings Institution Hosting Panels on LNG Marine Fuel

The Brookings Institution, a Washington D.C.-based think tank, will host a two-panel discussion on the use of LNG as a marine fuel on Tuesday, March 3, the organization announced today.

CGG to cut Vessel Fleet Further

French seismic group CGG said on Thursday it would further cut its fleet of seismic vessels after declining demand from oil and gas clients hit by the falling oil

Atlantic Gas Swings Keep LNG Traders Guessing

MILAN, Feb 26 (Reuters) - Atlantic natural gas markets are seeing some of the biggest price swings in years as volatile European trade, freezing U.S. weather

News

Drying Cabinets Handy On Board Nexus

In 2014, Pronomar equipped Van Oord’s offshore cable laying vessel Nexus with three drying cabinets, each responsible for the drying of eight sets of workwear.

NATO Maritime Commander Visits IMO Antipiracy Training

NATO Maritime Commander Vice Admiral Peter Hudson, CBE Royal Navy, visited the two-week Advanced Maritime Law Enforcement/Training of Trainers course taking place

Electronics Retrofit for Taiwanese Research Vessel

L-3 SAM Electronics has been awarded a contract to retrofit propulsion control and automation systems aboard the Taiwanese Navy’s Ta Kuan hydrographic and oceanographic research vessel.

Logistics

RoRo Ship Enters Operation for WWL

Wallenius Wilhelmsen Logistics welcomes into operation the M/V Thermopylae, the first of its new generation of Post Panamax HERO (High Efficiency RoRo) PCTC vessels.

Containership Becomes Largest to Sail the Thames

The Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway, the U.K.’s newest deep-sea port hub. The 399-meter-long,

UK's Dragon LNG Port May Have Booked Two Cargoes

Britain's Dragon liquefied natural gas (LNG) import terminal shows only two unused import slots available over the next 13 days, compared with four slots advertised earlier this week,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1183 sec (8 req/sec)