Jude Hislop

European distillate oversupply has shippers taking long route around Africa

News

Longer voyage allows more time to find a buyer/onshore storage, provides a return from higher priced, later delivery date. In Europe, the combination of low winter heating demand, high refinery runs, and increased imports have kept distillate fuel oil inventories in the Amsterdam, Rotterdam, and Antwerp (ARA) area far above normal. Higher inventories have lowered

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Helix Energy: Q4 $403 million loss due to reduced offshore drilling

Energy Financial

Helix Energy’s well intervention vessel utilization in Q4 2015 decreased to 47% from 60% in Q3 2015 Helix Energy Solutions Group, Inc. reported a net loss of $403.9 million, or $(3.83) per diluted share, for Q4 2015 compared to net income of $8. million, or $0.08 per diluted share, for the same period in 2014 and net income of $9.9

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LNG sale to Asian utility brings total for SCT&E export facility to 2.7 mtpa

News

2015 signing of two offtake MOU’s brings total agreements to 2.7 mtpa for planned Louisiana LNG export facility A Houston-based LNG export company says it has sold 1.0 million tons per annum to an Asian utility, bringing the total of three recent sales for its future facilities to be constructed on Monkey Island in Cameron Parish, LA to 2.7 mtpa. SCT&E

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Permian Basin News: Medallion launches pipeline binding open season

News

Expansions to Medallion pipeline total 125,000 b/d Medallion Pipeline Company, LLC,  today announced a binding open season to solicit long-term commitments from shippers for transportation capacity on the fourth major expansion of the Medallion crude oil pipeline system. The current project proposed by the open season will further extend and expand the geographic scope of the

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Rail continues to dominate coal shipments to the power sector

News

Cost to transport coal by rail to electric power plants increased 14% since 2008 US electric power generators consumed 740 million tons of coal in 2015, fueling about one-third of total electric power generation and accounting for 92 per cent of all coal consumed in the United States, according to the US Energy Information Administration. Nearly 70 per cent of

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Canada’s oil sands workforce impacted by shift from expansion to maintenance

News

At peak construction, oil sands still require 38,000 construction workers to maintain operations, could hire 9,500 operations positions A shift in Canada’s oil sands sector from growth and expansion to improving the reliability and performance of existing operations will have long-term impacts on the sector’s workforce requirements. By 2020, the sector will experience a decrease in

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New report says Obama’s $10/b oil tax could damage US economy – Murkowski

Uncategorized

White House calls $10.25/b levy a “fee” rather than a tax, says Murkowski U.S. Sen. Lisa Murkowski, R-Alaska, on Tuesday released a second report prepared by the Congressional Research Service (CRS) raising key questions about President Obama’s proposal to levy a new $10-per-barrel tax on oil. An earlier CRS analysis of that proposal concluded the plan would

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Canadian banks vulnerable to oil shock – Fitch

Energy Financial

Fitch warns about banks’ exposure to oil field services, commercial loans tied to energy production NEW YORK – Canada’s commodity-reliant economy will be facing challenges that pose new risks to Canada’s major banks if oil prices remain “lower for longer” and/or this creates a macroeconomic shock to the economy, according to Fitch Ratings. “So far Canadian Banks have

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Gasoline consumption well below 2007 peak despite increase in travel

News

Improvements in light-duty vehicle fuel economy largely responsible for lower gasoline demande Based on US Energy Information Administration estimates in the most recent Short-Term Energy Outlook (STEO), vehicle travel in the United States in 2015 was almost 4 per cent above its 2007 level, but motor gasoline consumption has not exceeded its previous peak in 2007. STEO forecasts motor

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