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Tanker operator MISC reported third quarter revenues that grew 1% on a year earlier, led by a 13% expansion in its liquefied natural gas (LNG) business. That echoes the result seen at Qatari operator Nakilat, and allowed it to outperform the tanker sector’s 6% decline. MISC’s oil business, ... Read more →
Global demand for crude oil continues to grow unabated. U.S. imports climbed 11% on a year earlier in August, a tenth month of growth. There was probably a drop in September, based on EIA data, as a result of hurricane disruptions. That cut demand from Chevron for seaborne crude by 58% and ... Read more →
U.S. crude oil import growth ground to a halt in June, rising just 1% on a year earlier after 24% in May. That was the result of shipments from south America dropping, including Venezuela’s 19% slide. They also lost market share to Iraq, which jumped 73%. EIA data suggests the import slide ... Read more →
U.S. trade in crude oil rallied for a seventh month in May with imports climbing 24% on a year earlier, their fastest rate of growth since at least 2010. Exports increased 57% to a new high, though they are still only 15% of total imports, leaving energy independence a long way off. Shipmen... Read more →
U.S. crude oil imports rose 12% in April, and likely increased another 7% in May. The stated energy policy of the Trump administration is to cut reliance on OPEC. In that regard exports by the U.S. rose 69% but net imports still increased 5% in April. Supplies from Iraq overtook those from ... Read more →
Malaysian tanker operator MISC reported a 21% jump in first quarter revenues vs. a year earlier. That was led by a 283% surge in offshore energy revenues, while petroleum tanker sales increased just 2%. That slow development may be due to its U.S. operation AET losing market share, Panjiva ... Read more →
U.S. oil independence from OPEC – part of President Trump’s America First Energy program – came a step closer in February as crude oil exports jumped 187% on a year earlier to a new high. Imports also increased by 5%, so exports were still just 17% of imports. The biggest loser ... Read more →
U.S. energy independence, envisaged by President Trump, is a long way off. Crude oil exports were just 11% of imports in February, Panjiva analysis of EIA data shows, with imports having climbed 5% on a year earlier. The increase in volumes will have come via pipeline and truck as seaborne ... Read more →
IPO candidate Saudi Aramco has seen increasing exports to the U.S. in 2016 Customer network is led by U.S. ‘big oil’ refineries Supplier network is becoming more dense The initial public offering of Saudi Aramco may soon be launched, with final options being considered according to R... Read more →
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