Oil exports

Articles from Oil exports

Gulf Coast Oil Exports Approach Record Territory, with More Growth to Come

Crude oil export volumes from the Gulf Coast should hit an all-time high in the second quarter, but that record shouldn’t last long, according to Rystad Energy. Citing continued “depressed” U.S. oil refining capacity against pre-Covid levels, tied to refinery outages and releases from the federal Strategic Petroleum Reserve (SPR), Rystad’s shale research head Artem…

June 30, 2022

E&P

AMLO Gasoline Subsidies Could Negate Oil Price Benefits for Mexico’s Pemex, Says Fitch

Mexico President Andrés Manuel López Obrador’s pledge to subsidize gasoline prices could partially negate the windfall of high oil prices for state oil company Petróleos Mexicanos (Pemex), according to new analysis by Fitch Ratings Inc. Pemex “will benefit from higher oil prices although these pose risks to federal government revenue, since the government has committed…

March 30, 2022

M&A

Enbridge Slaps Down $3 Billion for North America’s Largest Oil Export Terminal

After scrapping its own plans to construct a deepwater crude oil facility, Enbridge Inc. is set to acquire North America’s largest crude export terminal after agreeing to pay $3 billion in cash for rival Moda Midstream Operating LLC. Under an agreement with EnCap Flatrock Midstream, Enbridge on Tuesday said it would acquire full operating interest…

September 7, 2021

Energy Transition

Port of Corpus Christi Unveils Plans for Green Hydrogen at Facilities

The Port of Corpus Christi, a leading U.S. oil and natural gas export hub, has unveiled plans to explore green hydrogen production at its facilities in South Texas. Under a memorandum of understanding (MOU), the Corpus Christi port is partnering with finance giant Ares Management Corp. to look into the potential for building the hydrogen…

May 18, 2021

Infrastructure

Michigan to Review Carbon Emissions Potential of Enbridge Line 5 Replacement

Carbon emissions will be on the agenda when the Michigan Public Service Commission (MPSC) begins hearings on May 18 into Enbridge Inc.’s $500 million plan to save its 540,000 b/d Line 5 oil conduit. “The need for a robust record in this case is crucial,” said an MPSC procedural ruling Wednesday. The ruling regards the…

April 22, 2021