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Tag Archives: exports

Company settles with feds over renewable fuel violation

SAN FRANCISCO (AP) — A company has agreed to pay $27 million in a settlement over violations of biofuel exports. The U.S. Justice Department and Environmental Protection Agency on Thursday announced the settlement with Chemoil, which sells renewable fuel, diesel and oil products from San Francisco. The civil penalty is the largest under the EPA’s fuels program. The agencies said ...

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Global trade of LNG hits record high

Global trade of LNG hits record high

Global trade of liquefied natural gas (LNG) reached record numbers in 2015, according to a new report. The International Group of LNG Importers said shipments of LNG grew by 2.5 percent to an all-time high of 245.2 million tons annually. Increased trade was driven by new liquefaction plants in Indonesia and Australia. The new facilities began exporting LNG to customers ...

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US trade deficit rises in February to 6-month high

US trade deficit rises in February to 6-month high

WASHINGTON (AP) — The U.S. trade deficit rose in February to the highest level in six months as the growth in imports outpaced a modest rise in exports. The trade gap widened to $47.1 billion, up 2.6 percent from a January imbalance of $45.9 billion, the Commerce Department reported Tuesday. Boosted by stronger sales of U.S.-made autos, exports increased 1 ...

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US factories increase output in February

US factories increase output in February

WASHINGTON (AP) — U.S. factories produced more machinery, appliances and other goods last month, the second-straight increase in output and a sign manufacturing may be stabilizing after a difficult year. The Federal Reserve said Wednesday that factory production rose 0.2 percent in February, after rising 0.5 percent the previous month. The increases in the past two months follow four declines ...

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Japan reports biggest trade surplus in over 4 years

Japan reports biggest trade surplus in over 4 years

TOKYO (AP) — Japan posted its biggest trade surplus in over four years in February, thanks to a strengthening in the yen and weak oil prices, though both imports and exports fell, suggesting persisting slack demand both in Japan and overseas. Preliminary data reported Thursday showed exports fell 4 percent from a year earlier to 5.7 trillion yen ($50.5 billion) ...

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First LNG export to leave Sabine Pass

Cheniere Energy, Sabine Pass, LNG, exports, Brazil

American liquefied natural gas will soon hit the global market. The first cargo of LNG exported from the continental United States will leave Cheniere Energy’s Sabine Pass terminal Wednesday, according to a company executive. The tanker Asia Vision LNG will ship the fuel to Brazil, where it will be received by Petroleo Brasileiro SA, according to a Bloomberg report. While ...

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EIA: Consumption will drive natural gas prices up

Natural gas prices are expected to rise, according to the EIA’s latest Short-Term Energy Outlook report. The average natural gas spot price at the benchmark Henry Hub for December 2015 was $1.93 per million British thermal units. That’s the lowest monthly average since March 1999. In the January report, the Nymex futures strip averaged $2.50/MMBtu for 2016 and $2.80/MMBtu for ...

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Tugboats at Sabine Pass ready for LNG exports

Four dedicated tugboats waited seven years to do their job. At Cheniere Energy’s $15 billion Sabine Pass LNG Terminal on the Texas-Louisiana border, the tugboats are stationed to ensure safe and timely escorts by crews trained to berth LNG vessels. But the shale revolution left the tugboats useless. Shale gas drillers started producing enough natural gas for the country, and ...

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US factory orders, inventories fall in November

U.S. factory orders, inventories fall in November

WASHINGTON – New orders for U.S. factory goods fell in November and inventories declined for a fifth straight month, the latest indication that economic growth braked sharply in the fourth quarter. The Commerce Department said on Wednesday new orders for manufactured goods slipped 0.2 percent after a downwardly revised 1.3 percent gain in October. The decline was in line with ...

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Oil industry exec: US crude exports help keep prices low

WASHINGTON — The oil industry’s top lobbyist says a new law allowing U.S. crude exports helps explain why oil prices have not spiked despite heightened tensions between two of the world’s big oil-producing countries, Iran and Saudi Arabia. The president and chief executive of the American Petroleum Institute, Jack Gerard, says the 3-week-old law lifting a 40-year ban on crude ...

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