US Crude Oil Exports Hit 15-year High

Posted by Eric Haun
Wednesday, July 30, 2014

U.S. crude oil exports reached 288,000 barrels per day (bpd) in May, the highest levels since April 1999, data from the U.S. Energy Information Administration showed on Wednesday.

The increase compares to April figures of 268,000 bpd, data showed.

Exports to Canada hit 263,000 bpd, the highest number on record, data showed, unchanged from volumes in the previous month.

Meanwhile, exports to Spain, the first on record with the EIA, were 17,000 bpd. Traders said the shipments were likely test batches of Canadian crude by Repsol for its Spanish refineries.

Exports of crude to Switzerland increased to 8,000 bpd in May from 5,000 bpd in April.

The U.S. Commerce Department approved 13 crude oil re-export licenses in May. Licenses show approvals to Spain and Switzerland.

The United States does not allow exports of its own oil with few exceptions such as barrels heading to Canada and the re-export of foreign oil. Exports under the exemptions need to be approved by the department's Bureau of Industry and Security.

(Reporting By Catherine Ngai; Editing by Chris Reese, Bernard Orr)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

First US LNG Shipment Goes to China

The first liquefied natural gas vessel from the lower 48 U.S. states is on its way to China, according to a Reuters interactive map on Friday, the latest sign that

Libyan Oil Exports to Resume from Closed Ports

Libyan oil exports from closed ports should resume in no more than one to two weeks after a deal was signed between the government and an armed brigade controlling the terminals,

Asia Tankers-VLCC Rates Falter on Oil, Tanker Supplies

MidEast, West Africa rates hit 11-month low. Freight rates for very large crude carriers (VLCCs), which hit an 11-month low this week, could slide further next

Energy

China Refineries Enters Global Oil Trade

During the last year, China’s “teapot” refiners are helping to boost China’s crude import demand and their influence is expanding, says Clarkson Research Services.

First US LNG Shipment Goes to China

The first liquefied natural gas vessel from the lower 48 U.S. states is on its way to China, according to a Reuters interactive map on Friday, the latest sign that

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

Logistics

Boxship Capacity Crosses 20 million TEU Mark

This week, containership fleet capacity has passed the 20 million TEU mark, another milestone in the rapid rise to prominence of the sector, according to Clarksons Research.

MED AMERICAS will Replace MGE Service

CMA CGM is revamping it MGE service becoming the MED AMERICAS, stand-alone CMA CGM service with dedicated fleet of 11 vessels of 2,500 TEU, in a continuous effort to improve service coverage,

China Refineries Enters Global Oil Trade

During the last year, China’s “teapot” refiners are helping to boost China’s crude import demand and their influence is expanding, says Clarkson Research Services.

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.0661 sec (15 req/sec)