Posts Tagged ‘crude oil’

An inroad for US crude export supporters on national security — maybe

The national security argument for lifting the US’ long-standing restrictions on oil exports appears to be making some headway.

Senator Bob Menendez, a New Jersey Democrat who in June had signed a letter to President Barack Obama saying unfettered US oil exports would harm American consumers, last week said he would support the “strategic export of American oil to allied countries struggling with supply because Iranian oil remains off the market.”

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Oil pipeline threats add to pressure on Azerbaijan

Oil-rich Azerbaijan is being rattled by disruption and attacks on pipelines, highlighting its tough geopolitical position and adding to worries about falling oil prices.

Having been courted by previous US governments, international interest in Azerbaijan and fellow Caspian producer Kazakhstan has waned in recent years, not least because of the increase in US shale oil production. Azerbaijan’s oil production is, in any case, thought to have peaked.

But with 848,000 b/d of output last year, Azeri production still matters.

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US crude-by-barge industry faces rough waters in oil markets: Petrodollars

While pipelines and rail are often the transportation modes that spring to mind for moving oil in the US, there’s also a market for inland barges. In this week’s Oilgram News column, Petrodollars, Joshua Mann assesses how the market to move oil has shifted under pressure from crude prices.

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Q2 oil results show strength of US ‘super-shale’ for the price of a slice

If the round of second-quarter upstream conference calls showed anything, it was that operators have been humdingers in recent months: incredibly competitive, ruggedly hard-working and totally determined to match their operating costs to slipping oil prices, with a bit left over for profit.

And they have succeeded beyond their most extravagant forecasts. The cost of producing the once-perceived “high-priced” unconventional oil patch has now fallen, in some cases, to per-barrel breakeven prices pretty much on par with an extra-large delivered pizza with all the works, including tip.

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Oman exports more LNG in move with implications for oil

Over the past two years, Oman has quietly expanded the number of countries to which it exports LNG to well beyond those with which it has long-term supply contracts.

In a state that needs increasing gas volumes to fuel its oil and heavy industrial sectors, this raises far-reaching questions about energy strategy.

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Struggles to cut cost delay oil play production in Argentina: At the Wellhead

There are always myriad reasons why vast oil resources worldwide may not be produced, and in this week’s Oilgram News column, At the Wellhead, Charles Newbery digs into challenges facing the biggest shale play in Argentina, which could rival the prolific production of US plays if properly tapped.

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The Oil Big Five: No slowdown for oil

High summer can often be seen as a slow period, when the heat and prospect of a holiday can make it hard to work up the effort to make news. In the Northern Hemisphere, summer is in full force, and luckily for us, news is also heating up in the world of oil.

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ConocoPhillips pursues Alaskan viscous crude deposits: At the Wellhead

New technology has long been one of the driving forces behind oil production, and in this week’s Oilgram News column, At the Wellhead, Tim Bradner explains how a major is using new methods in Alaska with the hopes any success could be more widely applicable — and profitable — in the future.

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Asia drawing better purchase terms for Mideast crude as competition intensifies

There is little doubt that additional crude oil supplies from Iran will intensify competition among Middle Eastern producers, which are already fighting to secure their share of Asia’s dynamic markets against the influx of barrels from western hemisphere suppliers that can no longer rely on the US market.

Tehran’s July 14 nuclear deal with six world powers will eventually lead to additional flows of Iranian oil onto world markets, but oil minister Bijan Zanganeh has already said the thrust of the marketing focus will be on Asia, where Iran has been able to maintain a foothold in the four key consuming countries.

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Australian may buck a trend with new Queensland oil refinery

Australia’s aged refining sector has shrunk by more than half over recent years, but at least one small local player appears to want to buck the trend with ambitions to fill a niche market on the country’s northeast coast.

According to local press reports, privately owned Australian minnow Casper Energy, headed by Brisbane-based businessman Duncan Mackenzie, has teamed up with Nevada outfit Eagle Ford Oil and Gas Corp. on plans to build a small oil refinery in the central Queensland port city of Gladstone. The project is designed to meet demand for fuel, particularly low sulfur diesel, in the burgeoning industrial and agricultural sectors in and around Gladstone.

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