In The News

Wednesday, 08/30/2023

August 30, 2023 – Energy Intelligence Oil Daily

How Canadian Heavy Crude Impacts US Light, Sweet Exports

Developments in the Canadian crude market are having a material influence over how much oil the US can competitively export, several market watchers and players say.

Specifically, the price of Canadian heavy benchmark Western Canadian Select (WCS) at the Nymex delivery point of Cushing, Oklahoma, is proving to have a knock-on impact on how much light, sweet crude from the Permian Basin is available for international markets, say Rusty...

Wednesday, 08/23/2023

August 23, 2023 – Energy Intelligence

US Oil Imports Could Defy Legislation Impacts

By Frans Koster

According to the US Energy Information Administration (EIA), net US crude imports averaged 2.7million barrels per day in 2022. Gross imports were 6.3 million b/d, while exports averaged 3.6million b/d. Assuming the higher figure, 2030 would see that figure plummet to 1.6 million b/d, according to the DOE — a notion that drew significant skepticism. “They are assuming shut down refinery capacity, and that is part of what they’re basing their...

Wednesday, 08/23/2023

August 23, 2023 – Reuters

Canada steps up pace of oil production growth, seen rising 8% in two years

By Nia Williams

Aug 23 (Reuters) - A busy oil sands maintenance season and early summer wildfires put a dent in Canadian crude production in the second quarter, but oil companies are ramping up growth over the next two years and will add nearly 8% to Canada's total output, analysts estimate.

Read the full article here: ...

Sunday, 06/11/2023

June 11, 2023 – Oil Price

Pioneer Sees $70-$100 Oil As Supply Growth Remains Constrained

By: Tsvetana Paraskova

Oil prices are set to rise later this year and trade in the $70-$100 range over the next three to five years as supply growth remains limited and OPEC+ continues to restrict output, according to a top executive at the largest pure-play U.S. shale producer, Pioneer Natural Resources.

Higher labor and material costs are slowing U.S. shale production growth, Pioneers's Executive Vice President Beth McDonald told Reuters at RBN...

Saturday, 06/10/2023

June 8, 2023 – Offshore

Sea Port Oil Terminal to start operations by 2027, says Enterprise official

By Offshore staff

HOUSTON – Enterprise Products Partners’ Sea Port crude oil export terminal off the coast of Texas could begin operations between the second half of 2026 and early 2027, the pipeline operator’s co-CEO said on Thursday.

According to Reuters, Enterprise Co-CEO Jim Teague disclosed the proposed Sea Port Oil Terminal’s start date at the recent RBN Energy export conference in Houston. Previous announcements had said that the Sea...