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US 'oil weapon' could change geopolitics forever

2 days ago DieselGasoil Comments Off on US 'oil weapon' could change geopolitics forever
The United States became the world’s top oil producer in February, and now it may use its leverage to reinforce its position as a geopolitical force. In a dynamic that shows just how far US oil production has come in recent years, the US Energy Information Administration (EIA) said on Monday that in the last two months Read More

From California to Oslo: foreign subsidies fuel Norway's e-car boom, for now

2 days ago DieselGasoil Comments Off on From California to Oslo: foreign subsidies fuel Norway's e-car boom, for now
OSLO (Reuters) – On the outskirts of Oslo, a row of Fiat 500es imported from California stand parked in the snow outside the Buddy Electric dealership, part of a global flow of pre-owned electric cars to Norway powered by green subsidies elsewhere in the world. Maiken Skram of Buddy Electric car dealer company shows the Read More

U.S. Refiners Look to get in on shale oil export boom

3 days ago DieselGasoil Comments Off on U.S. Refiners Look to get in on shale oil export boom
By David Marino and Catherine Ngai on 3/19/2019 NEW YORK (Bloomberg) — U.S. refiners aren’t just buying crude to turn into gasoline and diesel (gasoil) — they’re competing with producers and traders to export it. Marathon Petroleum Corp. and Phillips 66 — two of the three biggest U.S. independent fuelmakers — are getting in on Read More

The U.S. Gulf Coast became a net exporter of crude oil in late 2018

5 days ago DieselGasoil Comments Off on The U.S. Gulf Coast became a net exporter of crude oil in late 2018
March 18, 2019 In the last two months of 2018, the U.S. Gulf Coast exported more crude oil than it imported. Monthly net trade of crude oil in the Gulf Coast region (the difference between gross exports and gross imports) fell from a high in early 2007 of 6.6 million barrels per day (b/d) of Read More

Algeria's crisis clouds the future for OPEC oil cuts

5 days ago DieselGasoil Comments Off on Algeria's crisis clouds the future for OPEC oil cuts
By Julian Lee on 3/17/2019 WASHINGTON, D.C. (Bloomberg Opinion) — Meet the exclusive group of oil producers that nobody wants to join. Algeria’s deepening political crisis has made its future oil production extremely uncertain. So, ignominiously, it is now the latest OPEC member to have become so vulnerable that it forms part of the “Shaky Read More

Oil market can weather zero Iranian exports

5 days ago DieselGasoil Comments Off on Oil market can weather zero Iranian exports
By Margaret Talev and Stephen Cunningham on 3/17/2019 WASHINGTON (Bloomberg) — U.S. officials said the global oil market can withstand the removal of all Iranian crude exports this year, a conclusion that could be pivotal in the coming weeks as President Donald Trump weighs whether to end sanctions waivers granted to several nations. Based on Read More

Egypt returns to LNG exports club seeking to sell cargoes

1 week ago DieselGasoil Comments Off on Egypt returns to LNG exports club seeking to sell cargoes
By Stephen Stapczynski, Anna Shiryaevskaya and Salma El Wardany on 3/15/2019 SINGAPORE and LONDON (Bloomberg) — Egypt indicated it’s ready to rejoin the club of major exporters of liquefied natural gas, making its biggest offer to supply the market in at least five years. The state gas company EGAS tendered to sell four cargoes of Read More

U.S. natural gas production hit a new record high in 2018

1 week ago DieselGasoil Comments Off on U.S. natural gas production hit a new record high in 2018
March 14, 2019 U.S. natural gas production grew by 10.0 billion cubic feet per day (Bcf/d) in 2018, an 11% increase from 2017. The growth was the largest annual increase in production on record, reaching a record high for the second consecutive year. U.S. natural gas production measured as gross withdrawals averaged 101.3 Bcf/d in Read More

US-China trade plunges by 20% in the first two months of 2019

2 weeks ago DieselGasoil Comments Off on US-China trade plunges by 20% in the first two months of 2019
The volume of trade between the world’s two largest economies, the United States and China, dropped to $76.5 billion in January-February, according to data by China’s General Administration of Customs. The figure is 20 percent lower than for the same period of last year. At the same time, the trade deficit between the countries narrowed Read More

Indonesia plans tax changes to drive output, exports of greener cars

2 weeks ago DieselGasoil Comments Off on Indonesia plans tax changes to drive output, exports of greener cars
JAKARTA (Reuters) – Indonesia plans to revise its luxury tax scheme for cars to encourage production of environmentally friendly vehicles and to help promote Southeast Asia’s biggest economy as a regional hub for exports, ministers said on Monday. FILE PHOTO: A view of a traffic roundabout in the central business district before the lights were Read More