The downward trend in global oil prices that garnered so much attention – and hyperbole – over the past couple of weeks also revived interest in the US crude oil export conversation. The million dollar question with regard to US oil exports is how additional volumes of US crude on the global market would impact… Keep reading →
Crude oil transportation in the US ballooned to 1 million barrels per day in recent years as production swelled beyond existing pipeline infrastructure capacity. A series of explosive accidents involving crude oil train cars has sparked regulators to strengthen rules and safety measures governing these pipelines on wheels. “Tens of thousands of these older tank… Keep reading →
Daniel Yergin, Pulitzer Prize winning author and Vice Chairman of global consulting firm IHS spoke at the 2014 EIA Conference in Washington D.C. on Monday. EIA, the U.S. Energy Information Association is the statistics arm of the federal Department of Energy and the conference featured leading figures from industry, academia and government. Yergin stated emphatically… Keep reading →
US oil producers are leaving no stone unturned in their quest to export light, sweet crude that has swelled to a glut overwhelming the country’s refineries. One option could be to swap US crude for grades produced overseas that are better suited to the US refining complex, but a host of regulatory and market-based obstacles… Keep reading →
Traditional and social media universes have been buzzing as analysts and market observers digest the recent US crude oil export news. The Wall Street Journal was accused of writing a misleading headline stating the US “loosened” the crude oil export ban. This may be a bit nitpicky, but the broad US crude oil export ban… Keep reading →
As we reported last November, US crude oil export laws can be absurd, with policies regulating condensate exports particularly convoluted. Thus it appears two forward-thinking companies took advantage of this “squishy” legal situation to gain condensate export approval. Deemed “private classification orders” by the Commerce Department’s Bureau of Industry and Security, the decision allows Pioneer… Keep reading →
US refiners have had a tough 25 years, Pioneer Natural Resources Chairman and CEO Scott Sheffield said during a lunch keynote presentation at the Independent Petroleum Association of America Oil & Gas Investment Symposium in New York today. East Coast refiners face a competitive disadvantage to those located on the Gulf Coast because Eastern plants… Keep reading →
Russia’s Gazprom twice increased natural gas prices charged to its Ukrainian counterpart last week. The initial increase was largely expected, as it represented the removal of a discount offered in conjunction with financial assistance – ie loans – from the Russian government. However, after violent protests led Ukraine’s Russian-leaning president to leave office, Russia rescinded… Keep reading →
Breaking Energy has followed the US oil export issue since it first became a realistic question, as domestic production surprisingly surged. The issue steadily gained traction and there is currently a wealth of views on the topic. A series on Forbes called “The Weekly Oil & Gas Follies,” rounds up interesting, thought-provoking and silly industry-related… Keep reading →
Energy security, rather than energy independence, should be the priority for US geopolitical positioning as the superpower reviews the impact of the ongoing production boom from shale oil and gas fields in the continental US, a new report argues. “The three key factors in the promotion of energy security are increasing energy efficiency, diversifying supply… Keep reading →
