Loren Dawson
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Crude Oil
US Oil and Gas Sector Affected Massively by Coronavirus
The worldwide vitality sector is sick due to the coronavirus. However, the illness might have its most deleterious impact on the U.S. oil and gas industries, on condition that the president is making an attempt to stress China to purchase more U.S-produced fossil fuels. China’s concessions throughout commerce talks are doubtful. However, the coronavirus makes them much more uncertain. And…
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Crude Oil
Asian VLSFO Comes Down After Enjoying Record Peaks
Asia’s market for very low-sulfur fuel oil (VLSFO) has departed from its record peaks near the beginning of the year, as demand crumbles under seasonal elements and an outbreak in China. At the same time, supply expectations improve, analysts and traders stated. Cooling VLSFO prices are an early signal of stabilizing market fundamentals after months of dryness triggered by the…
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Crude Oil
China Virus Affects the Crude Oil Market
International oil demand will endure its first quarterly drop in a decade because the COVID-19 virus lashes the economic system in China, and its impression ripples all through the world, the IEA mentioned. Whereas the IEA nonetheless expects demand for oil to develop for this year because the outbreak is restrained, it slashed its forecast for the rise in world…
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Crude Oil
Eagle LNG EPC Chooses Matrix Services
Eagle LNG’s Jacksonville LNG Export Center, which will require a funding of $500 million based on remaining design, will even utilize Chart Industries’ technology and liquefaction equipment know-how. The facility may have a production capacity of approximately 1.65 million gal./d of LNG with 12 million gal of storage, a marine terminal, and truck-loading capabilities. LNG provides significant environmental and economic…
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Crude Oil
Russia Hits Record Oil Production for Post-Soviet Era Despite OPEC+ Cuts
Crude oil and condensate production in Russia reached a record high for the post-Soviet era last year, regardless of Moscow’s key role in supporting the ongoing output cuts of the OPEC+ alliance. Based on figures from Russia’s energy ministry, Russia produced 11.25 million barrels per day (BPD) of crude oil and condensate in 2019—up from 11.16 million BPD a year…
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Crude Oil
Saudi Think on Cutting Light Crude Prices by 20-30 Cents
Saudi Arabia, the world’s biggest oil well, could cut the costs of its light crude delivered to Asian countries in February on indicators of slowing demand ahead of the area’s peak refinery maintenance season, six trade sources stated. The original selling price (OSP) of flagship Arab Light crude in February may plunge by 20-30 cents per barrel, four of six…
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Crude Oil
Demand of Oil Raises the Oil Rates of The US Gulf Coast, Hitting A New Record
Oil freight charges from the US Gulf Coast for Aframax crude tankers hit a new file this week, in accordance with shipbrokers cited by Reuters, as demand will increase for US crude oil sure for Europe and the Mediterranean in entrance of the brand new IMO 2020 guidelines that can go into impact in simply a few weeks. Last week,…
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Crude Oil
U.S. Reserves of Crude Oil and Natural Gas Soars Up High
The proved reserves of crude oil and pure gasoline in the US set new information, the U.S. Energy Information Administration (EIA) reported on Friday. In response to the EIA’s annual reserves report, the proved reserves of crude oil within the nation elevated 12 %, from 39.2 billion barrels at year-end 2017 to 43.8 billion barrels at year-end 2018, setting one…
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Crude Oil
Alberta Oil Curtailments May End This Year
The premier of Alberta, Canada’s high oil-producing province, mentioned Wednesday that the top of an authorities-imposed curtailment on oil manufacturing might come sooner than its December 2020 sundown date. “We hope it is going to finish by this time next year at the newest,” Premier Jason Kenney instructed Reuters throughout an interview in Houston, the place he met with executives…
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Crude Oil
During Transfer to Washington Oil Spilled a Little
The Washington Department of Ecology stated that cleanup of a small crude oil spill in Fidalgo Bay completed early Sunday. “There have been no impacts to the shoreline or wildlife,” division spokeswoman Cheryl Ann Bishop stated in an email. The spill occurred Friday night time when a Crowley Maritime barge was transferring 5 million gallons of oil to the Shell…
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