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Tag Archives: oil imports

The New Age of Trump Oil

donald trump, kevin cramer

Recently, President Donald J. Trump joined Energy Industry Executives, members of Congress, and Cabinet Officials at the Department of Energy to deliver remarks on unleashing America’s boundless capacity for energy production. “We’re here today to usher in a new American energy policy,” he declared. The President explained that his focus isn’t so much on “energy independence,” but rather dominance. In ...

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Oil industry headlines from around Texas

Texas oil, pumpjack

From budget cuts to oil spills, here is the news from the Texas oil and gas industry this week. Oil spill photos are finally visible to the public Photos taken by the Civil Air Patrol of flood-related oil spills are now available to the public online, rather than requiring a login and password for the University of Texas website. The ...

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Cheaper oil lowers US current account deficit in 2nd quarter

WASHINGTON — Cheaper oil imports and greater U.S. exports lowered the deficit in the broadest measure of U.S. trade in the April-June quarter. The Commerce Department said Thursday that the current account deficit shrank to $109.7 billion, down from $118.3 billion in the first quarter. The current account tracks not only trade in goods and services but also investment flows. ...

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NYMEX – U.S. crude oil prices dip on surprise North Dakota output jump

SINGAPORE – Oil prices fell on Thursday morning after major U.S. oil producing state North Dakota posted a surprising output hike and ongoing high stocks were expected to weigh on import and production demand. Despite a slight draw in overall stocks, government data showed that U.S. crude inventories of almost 485 million barrels were still nearly 90 million barrels higher ...

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Kenya oil product imports likely to hit record, offset tepid Asia demand

SINGAPORE – Kenya is set to import record volumes of oil products in May as its economy gathers steam, soaking up some of Asia’s excess supply and helping put a floor under refining margins. Industrial expansion and a growing fleet of automobiles in a region that lacks refining capacity have stoked East African appetite for oil product imports, with relatively ...

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Are we on course for energy independence by 2025?

Long run lightning bolt soaring across the sky with oil well pump-jack and two communication towers with an American USA Flag background.

A recent Wood Mackenzie report is setting a date for American energy independence. Thanks to trends of high production and stabling demand, 2025 is expected to be the first year since 1952 that the U.S. will export more energy products than it imports. Rigzone.com reports: A country can achieve energy independence through two channels,” said James Brick, senior analyst with Wood ...

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As Venezuelan deliveries wane, allies tap traders for pricey fuel

oil pipeline

HOUSTON/CARACAS (Reuters) – Venezuela’s shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former President Hugo Chavez struck to lower energy costs for friends and expand his diplomatic clout. Total shipments under cooperation deals with Latin American and Caribbean countries dropped 11 percent ...

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