Supply Crude Oil News

Emco Wheaton has played a pivotal role in the transfer of the first shipment of U.S. crude oil for export in 40 years, after the Theo T tanker set sail from the Port of Corpus Christi bound for Europe. The Greek oil tanker was loaded on New Year’s Eve by NuStar Energy LP at its North Beach Terminal at Port Corpus Christi in Texas using three Emco Wheaton Marine Loading Arms. To cost effectively and safely supply crude oil to the global market, Nustar Energy LP made significant investments in its Corpus Christi terminal operations in 2014 with the purchase of new equipment.

Rosneft’s President and Chairman of the Management Board, Igor Sechin, and Eni’s CEO, Paolo Scaroni, in the presence of the Russian President, Vladimir Putin, and Italy’s Prime Minister, Enrico Letta, has signed a term sheet on mutual crude oil supplies and a heads of agreement on joint participation and investments in logistic and commercial activities within the hydrocarbons sector. Rosneft will supply crude oil to PCK Schwedt refinery in Germany and Česká Rafinerska refinery in the Czech Republic which are both participated by Eni.

A Louisiana shipping channel used to supply crude oil to two big Gulf coast refineries has reopened to most ships but very large vessels may still not be able to get through, the U.S. Coast Guard reported on Monday. A sunken drydock has been blocking the shipping channel in the Calcasieu River, just north of the Intracoastal Waterway, since Tuesday, preventing deepdraft vessels, such as crude oil tankers, from passing through the area. The dry dock is still sunken, and not yet been salvaged," USCG said. "Very large vessels may not be able to bypass the sunken dry dock," it added. The U.S. government last week said it was releasing 500…

Daewoo Shipbuilding & Marine Engineering Co Ltd will enter the shipping business by forming a joint venture company with Nigerian National Petroleum Co, Daewoo Shipbuilding said. The joint venture, tentatively named Nigeria Daewoo Shipping Ltd, will have a capital base of 10 mln usd, with Daewoo Shipbuilding owning 51 pct and Nigerian National Petroleum the rest, Daewoo Shipbuilding said. Daewoo Shipbuilding will be in charge of the management and Nigerian National Petroleum will supply crude oil for shipping. Source: Forbes

Reuters reported that ships were halted from moving along the 53-mile (85.3 kilometer) Houston Ship Channel to the busiest U.S. petrochemical port on Thursday due to dense fog, said the U.S. Coast Guard. Ship pilots in Texas City, Texas, near the Gulf of Mexico entrance to the channel, and Houston stopped guiding vessels shortly after 1 a.m. CST (0700 GMT) after limited visibility made navigating the waterway unsafe, the Coast Guard said. No time has been set for resuming ship movement, according to the Houston ship pilots association. Tankers running through the channel supply crude oil to refineries in Houston and Texas City, which account for 11.8 percent of U.S. refining capacity. Source: Reuters