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First US crude cargo from Cactus II loaded out of Corpus Christi

1 hour ago DieselGasoil Comments Off on First US crude cargo from Cactus II loaded out of Corpus Christi
Houston — The first US crude cargo originating from the new Cactus II pipeline loaded onto the Aframax Paramount Hatteras out of the Buckeye Terminal in Corpus Christi, Texas, a NuStar Energy spokesman confirmed Tuesday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The Paramount Hatteras’ discharge destination was Read More

Trump White House tries to assuage farmer unrest over biofuel policy: sources

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NEW YORK/WASHINGTON (Reuters) – President Donald Trump’s administration has been scrambling to stem the tide of rising anger in Farm Belt states after its decision this month to allow numerous oil refiners to mix less ethanol into their gasoline, sources told Reuters on Tuesday. FILE PHOTO: U.S. and Iowa state flags are seen next to Read More

U.S. oil firms challenge pipeline surcharge for steel tariff: filing

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HOUSTON (Reuters) – Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs. FILE PHOTO: Flags fly outside ConocoPhillips offices in Houston, Texas, U.S., April 30, 2019. REUTERS/Loren Elliott/File Photo The United States imposed Read More

Trump EPA says ‘zero evidence’ of biofuel waivers hurting ethanol producers

4 hours ago DieselGasoil Comments Off on Trump EPA says ‘zero evidence’ of biofuel waivers hurting ethanol producers
FILE PHOTO: The U.S. Environmental Protection Agency (EPA) sign is seen on the podium at EPA headquarters in Washington, U.S., July 11, 2018. REUTERS/Ting Shen WASHINGTON (Reuters) – U.S. Environmental Protection Agency on Tuesday dismissed the biofuel industry’s argument that waivers granted to small oil refineries were destroying demand and that were damaging for the Read More

Argentina seeks to stabilize currency as oil companies fret about price freeze

5 hours ago DieselGasoil Comments Off on Argentina seeks to stabilize currency as oil companies fret about price freeze
Buenos Aires — Argentina’s newly installed economy minister, Hernan Lacunza, said Tuesday he will focus on stabilizing the currency as the key to pulling the country’s economy out of recession and reducing inflation, yet he will face pressure from oil companies who are concerned that a 90-day freeze on crude and refined product prices could Read More

Shale bond buyers get picky as more producers default

7 hours ago DieselGasoil Comments Off on Shale bond buyers get picky as more producers default
By Caleb Mutua on 8/20/2019 NEW YORK (Bloomberg) – After years pouring funds into the shale boom, bond buyers are getting increasingly selective as defaults rise and many explorers continue to burn more cash than they make. While Exxon Mobil and Occidental Petroleum have recently sold a combined $20 billion of investment-grade debt, junk rated Read More

Israeli pipeline could boost Europe-Asia crude supply options

9 hours ago DieselGasoil Comments Off on Israeli pipeline could boost Europe-Asia crude supply options
Highlights EAPC eyes broader crude transit role 600,000 b/d crude line offers Suez, SUMED alternative Middle East incidents see producers reassess supply routes London — Expanding Israeli pipeline and storage operations between the Mediterranean and Red Sea could benefit from changing crude and product flows and heightened security of supply issues across the Middle East. Read More

Analysis: US crude draw expected to resume amid stronger refinery runs, exports

1 day ago DieselGasoil Comments Off on Analysis: US crude draw expected to resume amid stronger refinery runs, exports
Highlights Crude stocks likely dip 3.1 million barrels to 437.4 million barrels Refinery runs edge up 0.2 points to 95% of capacity New USGC crude pipeline capacity narrows distillate cracks New York — US crude oil stock stocks likely declined last week amid an uptick in export activity and strong refiner demand, an S&P Global Read More

US study to focus on leasing, not closing, portions of SPR: sources

1 day ago DieselGasoil Comments Off on US study to focus on leasing, not closing, portions of SPR: sources
Highlights Study was originally expected late last year US negotiating with Australia on leasing SPR space Closure of SPR site no longer under consideration Washington — An ongoing US Department of Energy study on the future of the Strategic Petroleum Reserve is expected to recommend leasing unused portions of the reserve, rather than closing one Read More