Crude Oil

  • Eagle LNG EPC Chooses Matrix Services

    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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  • Russia Hits Record Oil Production for Post-Soviet Era Despite OPEC+ Cuts

    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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  • Saudi Think on Cutting Light Crude Prices by 20-30 Cents

    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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  • Demand of Oil Raises the Oil Rates of The US Gulf Coast, Hitting A New Record

    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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  • U.S. Reserves of Crude Oil and Natural Gas Soars Up High

    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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  • Alberta Oil Curtailments May End This Year

    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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  • During Transfer to Washington Oil Spilled a Little

    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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  • Venezuela Accused of Exporting Millions of Oil Barrels Secretly

    Venezuela Accused of Exporting Millions of Oil Barrels Secretly

    The Dragon, a large oil tanker flying the Liberian flag, is meant to be floating someplace off the coast of France, based on its final GPS sign. As a substitute, it’s presently 1000’s of miles away in Venezuela the place, beneath contract for the Russian state-oil large Rosneft Oil Co. PJSC, it filled 2 million barrels of oil, in line…

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  • Shore Power System Is Having a Huge Impact On the Environment

    Shore Power System Is Having a Huge Impact On the Environment

    Ports are the central doorway for global trade and are crucial to the economy of every country. Daily, thousands of ships are docked at berth around the world, since it’s impossible and unnecessary to send all the vessels on sails. Besides, not all ships are meant for sailing. Some vessels are docked to guard a country’s port. Some ships, including…

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  • Oil Prices Remain Steady Despite Rise of America's Crude Oil Inventories

    Oil Prices Remain Steady Despite Rise of America’s Crude Oil Inventories

    Oil costs have been broadly steady on Thursday, regardless of bearish alerts from rising US crude oil shares and weak manufacturing facility activity in China. Brent crude futures had been down 4c at $60.57 a barrel by 10.24 am GMT, erasing earlier features. That they had dropped by 1.6% on Wednesday, and the contract is ready for a month-to-month decline…

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