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U. S. Shale Revolution to Reduce Imports/Increase Exports
The International Energy Agency (IEA) sees U. S. shale oil production reducing crude imports from Saudi Arabia and increasing gasoline exports. The IEA noted that Saudi exports of crude have dropped below 7 million barrels of oil per day (bopd) for the first time since September 2011, largely as a result of increased U. S.… Read More
DOE Approves Cameron and Carib LNG Exports
The U. S. Department of Energy (DOE) issued its final approval for the Cameron LNG (Liquefied Natural Gas), LLC and Carib Energy LLC projects to export to countries with whom we do not have Free Trade Agreements (FTA). These projects are located in Cameron Parish, LA, and Martin County, FL, respectively. This authorization is significant… Read More
U. S. Shippers Want Role in Energy Exports
“Rigzone” reports that Don Marcus, the president of the International Organization of Masters, Mates and Pilots, urged congress to insure that American shippers participate in the benefits of LNG and crude exports. John Garamendi (D) and Duncan Hunter (R) introduced a bill in the House in July requiring the Department of Transportation promote the use… Read More
Delays Continue for Keystone XL Pipeline
TransCanada Corp. proposed the Keystone XL Pipeline which would carry oil from Western Canada’s oil sands area to U. S. Gulf Coast refineries. The project would traverse some 1,700 miles and original cost estimates were $5.4 billion. Since the pipeline would cross an international border, the project required approval by the U. S. State Department. … Read More
Shale Boosts U. S. Production
The U. S. Energy Information Administration (EIA) has increased its forecast for domestic oil production to 9.53 million barrels per day (bpd) for 2015 according to a recent article in “Rigzone”. If realized, this would mean a 1 million bpd increase over 2014 levels. By year end 2015 the U. S. could be producing 10… Read More
