A few notes from day one of the Platts Crude Oil Markets-Americas conference in Houston.
Archive for the ‘shipping’ Category
By John Kingston | February 27, 2014 11:32 PM Comments (0)
By Joshua Brown | January 22, 2014 12:48 AM Comments (0)
The January 22 start-up of TransCanada’s Gulf Coast Pipeline Project – originally the southern tail of the delayed Keystone XL pipeline — could not have come at a better time for the refining hub on the US Gulf Coast.
Dwindling production from Mexico and increasing domestic growth has flooded PADD III with light crudes while slowing some imports of heavy crudes, a disadvantage for the most complex refineries in the world.
Crude inputted into PADD III refineries was averaging an API gravity of 29.9 in 2013, according to the most recent data from the Energy Information Administration. That is a big difference between USGC-produced crudes such as Louisiana Light Sweet (34-41 API) and Eagle Ford (46 API).
By Anthony Poole | December 26, 2013 12:01 AM Comments (0)
Hollywood’s latest depiction of piracy on the high seas on the silver screen in Captain Phillips may not have been an accurate portrayal of the real character of Richard Philips himself, if the critics are right — I have never met him so am in no position to judge — but it did serve to alert a broader audience to the scourge and danger of piracy that remains a menace to international shipping and, more importantly, a threat to the lives of innocent seafarers.
By Esa Ramasamy | December 24, 2013 12:01 AM Comments (11)
The Canadian Joint Review Panel’s approval last week of the 525,000 b/d Northern Gateway pipeline, from Bruderheim, near Edmonton, to Kitimat, British Columbia could spell the end of steeply discounted Canadian heavy sour crudes. It also may reduce the urgency to build the Keystone XL Pipeline and Energy East Projects, though if projected production increases come into effect in Canada, Northern Gateway won’t be enough to handle that rise.
By Anthony Poole | December 17, 2013 12:01 AM Comments (0)
No sooner had General Motors announced the appointment of its first female CEO, Mary Barra last week, the Lloyd’s of London insurance market has gone and done the same thing.
On December 16, Lloyd’s, the world’s oldest insurance market, announced the appointment of Inga Beale as CEO, the first woman CEO in Lloyd’s 325-year rich history. Beale, 50, will take up the post in January, succeeding Richard Ward, who announced his resignation in July and will be leaving Lloyd’s after eight years as CEO.
By Stuart Elliott | December 12, 2013 12:01 AM Comments (0)
In Russia, energy and politics are rarely far removed from each other. Moscow is renowned for its use of oil and gas as a tool (or a weapon, depending on how you look at it) to get its own way, particularly with its former Soviet neighbors.
Georgia, the Baltic countries, Armenia and Kyrgyzstan are just some of the ex-Soviet Union states stung by Moscow over energy. And Ukraine’s treatment has over the past 10 years seemed sometimes brutal, with Russia leaving it out in the cold by switching off gas supplies because of price disputes.
Now, it seems, it is Azerbaijan’s turn.
By News Desk | November 18, 2013 05:02 PM Comments (0)
The nation’s seven Class I railroads spent $11.5 billion on diesel in 2012. Given that LNG costs roughly half as much as diesel, the majority of the railroads have announced plans to test LNG-fueled locomotives.
Two different projects both have the same aim: take abundant US/Canadian crude oil and move it elsewhere
By John Kingston | November 8, 2013 02:58 PM Comments (0)
By Ross McCracken | October 24, 2013 09:51 AM Comments (1)
An arbitrage is a difference in value for a commodity relative to location. It is something that efficient markets close. Billions of dollars are being invested in the US to take advantage of the price difference between domestic gas and Asian LNG, just as billions were earlier invested in LNG import terminals. In this month’s featured article from Platts Energy Economist, editor in chief Ross McCracken discusses how only time will tell if it proves a good bet either for buyers or sellers.
Arbitrages are common in the oil and gas world. One of the most long-standing was the Brent-WTI arb. In the old days – Before Shale – international marker Dated Brent, then a single crude blend from the North Sea, traded at a discount to the US marker West Texas Intermediate. If the discount proved large enough to compensate for the freight cost, cargoes of Brent would be moved across the Atlantic and into the Gulf Coast.
By News Desk | September 9, 2013 12:01 AM Comments (2)