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Polish PM Calls For EU Energy Union To End Dependence On Russian Gas
The European Union must create an energy union to secure its gas supply because the current dependence on Russian energy makes Europe weak, Poland's Prime Minister Donald…
Japan LNG Imports Hit Record Levels
Japan imported record volumes of liquefied natural gas (LNG) and thermal coal in the fiscal year ended in March, as the country's shutdowns of nuclear stations…
Shale Revolution Reverses Global Energy Flow
The United States has replaced OPEC as the marginal petroleum supplier to the world thanks to the shale revolution and improvements in automotive fuel efficiency. Net U.S. imports of crude and products have halved over the last five years, or by an amount equivalent to the entire daily crude exports of Saudi Arabia. Net imports totalled 5.2 million barrels per day at the start of 2014, down from 11.2 million at the beginning of 2009, according to the U.S. Energy Information Administration (EIA).
China Now World's Largest Liquid Fuels Importer
U.S. Energy Information Administration, Short-Term Energy Outlook, March 2014 reveals that in September 2013 China's net imports of petroleum and other liquids exceeded those of the United States on a monthly basis, making it the largest net importer of crude oil and other liquids in the world. The rise in China's net imports of petroleum and other liquids is driven by steady economic growth, with rapidly rising Chinese petroleum demand outpacing production growth. U.S.
India Essar's Oil Imports from Iran Jump Sharply
Essar Oil, a key buyer of Iranian oil, in January sharply raised imports from the Islamic state and also became the first Indian refiner to ship in the Brazilian heavy grade Polvo…
Kerry Urges for South China Sea Rules
Pressure is mounting on China and Southeast Asia to agree a code of conduct to keep the peace in the disputed South China Sea, but Beijing is warning of a long road ahead. Only last week, U.S. Secretary of State John Kerry urged China and the Association of South East Asian Nations (ASEAN) to work out rules to ease tensions after a fresh Chinese campaign of assertiveness in the region. "The longer the process takes…
Temporary Easing of Iran Sanctions in Effect Jan. 20, 2014
The accord reached between Iran and the five permanent members of the United Nations Security Council (the United States, China, Russia, Great Britain and France)…
Despite Rising US Production, Saudi Crude Still Flows In
Reported spot market activity from the Arabian Gulf remains on an upward trend since 2010 in spite of rising US crude production, reports Poten & Partners’ in their latest ‘Tanker Opinions’. Over the past few years US domestic crude oil production has supplanted foreign crude oil imports. To the extent that they possibly can, domestic refiners have shifted to local grades that have trended at an often significant price discount.
Port of Hamburg Maintains 3Q Growth
Seaborne cargo throughput in Germany’s largest universal port in the first three quarters of 2013 totaled 103.9 million tons (+6%). The July-September trend, especially, ensured a brilliant throughput total: in the third quarter 35.8 million tons crossed Hamburg’s quay walls, giving the Port of Hamburg a throughput gain of 11.1%. After advances in the first quarter of 0.6% and of 6.3% in the second, the continuous upward trend in its cargo throughput was therefore more than maintained.
U.S. Crude Oil Production October Exceeded Imports Reports EIA
The U.S. Energy Information Administration (EIA) releases latest short-term energy outlook. Monthly estimated domestic crude oil production exceeded crude oil imports in October 2013 for the first time since February 1995. The weekly U.S. average regular gasoline retail price has fallen by more than 40 cents per gallon since the beginning of September. EIA's forecast for the regular gasoline retail price averages $3.24 per gallon in the fourth quarter of 2013…
Jones Act Fleet a Catalyst for Growth Says Jaenichen
At the inaugural recent Tradewinds Jones Act Forum, MARAD Acting Administrator Paul 'Chip' Jaenichen discussed the changes affecting the coastwise U.S.-flag maritime industry -- also known as the Jones Act fleet. Since its enactment, the Jones Act continues to ensure a level playing field for U.S. vessels moving cargo within the nation. The Act keeps skilled American mariners employed aboard American ships by requiring that products moved between U.S. ports be carried by U.S.
Shale Oil Is it a Threat to Future Deepwater Development?
In general the floating production sector looks healthy and growth remains strong. But the sudden expansion of shale oil and tight oil production could disrupt the…
Interior Holds Second Sale for Renewable Energy in Federal Waters
As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy sources and cut carbon pollution, the Interior Department…
Gulf of Mexico Lease Sale Yields $102.4 Million in High Bids
As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, the Department of the Interior’s…
Western Gulf of Mexico: 21 Million Acres up for O&G Development
As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Director Tommy P.
Nordic American Tankers 2Q 2013 Report
In announcing its results for the second quarter of 2013, Nordic American Tankers Limited (NAT) emphasized three key points that differentiate it from others in…
Tankship Freight Rates in Swift Freefall
The biggest slump in tanker rates since January is signaling weaker U.S. oil imports, and is causing a 15-year low in the shares of one major crude-oil tankship operatore, reports Bloomberg. Rates for the biggest crude carriers tumbled 68 percent in the past two weeks, more than reversing their advance since the end of June, says Bloomberg, citing Clarkson Plc, although earnings had risen after oil cargoes to the U.S.…
Joint Venture to Develop New Saint John Marine Terminal
Irving Oil and TransCanada will form a joint venture to develop and construct the new Canaport Energy East Marine Terminal at Irving Canaport in Saint John. Proposed…
U.S. Auctions Renewable Energy Sites in Federal Waters
As part of President Obama’s comprehensive plan to move our economy toward domestic clean energy sources and cut carbon pollution, Secretary of the Interior Sally…
BOEM Gulf of Mexico Sale Nets $1.2 Billion in High Bids
The Bureau of Ocean Energy Management (BOEM) completed its required evaluation to ensure that the public receives fair market value for tracts leased as part of…