Oil tanker videos

HOUSTON/NEW YORK: U.S. crude exports could touch 4 million barrels per day (bpd) for the first time ever in coming months, thanks to rising demand for low-sulfur crudes and the completion of pipeline and export projects along the U.S. Gulf Coast, traders, analysts and shipbrokers said.A new maritime law that requires ocean-going vessels to burn low-sulfur fuels to reduce pollution beginning January 1 is lifting demand for light, sweet U.S. crude, particularly from the U.S. Permian Basin, traders said.U.S. shippers are taking advantage of global demand for lighter crude grades just as U.S. production is nearing a record 13 million bpd. The shale boom has made the United States the world's biggest oil producer, and new infrastructure is funneling it into exports."Refiners around the world are adjusting their crude slates to reduce production of high-sulfur fuels at the same time that sour Middle Eastern crudes are quite expensive, allowing the arb (arbitrage) to open up for sweet crude … [Read more...] about U.S. oil exports set to rise in 2020 on surging demand for low-sulfur crude

Video PlayerClose BEIJING, Dec. 9 (Xinhua) -- China on Monday set up a new centrally-administered state-owned enterprise (SOE), the China Oil & Gas Piping Network Corporation. The company will partly be responsible for the investment, construction and interconnection of main oil and gas pipelines to form a nationwide network, allowing to transport crude oil, refined oil and natural gas through the network, it said. Aiming to forge an oil and gas market with effective transport through a unified pipeline network, the establishment of the central SOE is an important step forward in promoting the reform of China's oil and gas system. By interconnecting the country's oil and gas pipelines, the company will help raise the allocation efficiency of oil and gas resources and ensure safe and stable energy supply. … [Read more...] about China sets up new central SOE to manage oil, gas pipelines

The latest ammunition for Congress president Rahul Gandhi to target Prime Minister Narendra Modi is the hike in petrol and diesel prices. Taking to Twitter, the Congress chief attacked PM Modi, saying the poor and the middle class “bear the brunt of rising fuel prices”. Rahul Gandhi tweeted a video, edited and modified to include parts of a speech by PM Modi, followed by a snip from a television programme, showing Bollywood superstar Salman Khan laughing in a sarcastic manner. He tweeted, “The poor & the middle class bear the brunt of rising fuel prices. In this video, our PM is quite obviously talking about some other country.” The poor & the middle class bear the brunt of rising fuel prices. In this video, our PM is quite obviously talking about some other country. #PeTrolled pic.twitter.com/J6PHC7UsJZ — Rahul Gandhi (@RahulGandhi) April 4, 2018 In the speech, PM Modi can be seen addressing a rally wherein he asks people if prices of petrol and … [Read more...] about Rahul Gandhi trolls PM Modi over fuel price hike, with a video featuring Salman Khan

Video PlayerClose BEIJING, Dec. 9 (Xinhua) -- Chinese Premier Li Keqiang called for efforts to deepen the reform of the oil and gas industry and ensure the safe and stable supply of oil and gas. Li made the remarks in a written instruction to the establishment of the China Oil & Gas Piping Network Corporation Monday, a new centrally-administered state-owned enterprise (SOE). He extended congratulations on the establishment of the company, urging more efforts to boost reform and innovation and establish a scientific operation and management system. By opening up both ends to promote the formation of a fair and competitive upstream resource supply and downstream sales market, the new SOE is expected to improve the efficiency of oil and gas resource allocation and better serve national strategies and the needs of the people, Li said. Chinese Vice Premier Han Zheng attended the inauguration ceremony of the company. This is an important measure to deepen the reform of the oil and gas … [Read more...] about Chinese premier urges reform in oil, gas sector

Video PlayerClose NEW YORK, Dec. 9 (Xinhua) -- Oil prices dropped slightly on Monday, following big gains on Friday, as investors continued to observe whether OPEC and its allies would follow through their promise to deepen crude output cuts. The West Texas Intermediate for January delivery settled 18 cents lower at 59.02 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery fell 14 cents to close at 64.25 dollars a barrel on the London ICE Futures Exchange. "A lack of clarity on the path for the group's output beyond 31 March 2020 and the exclusion of condensates from Russia's target calculations partly tempered the bullish sentiment," MarketWatch quoted a note of Amarpreet Singh, oil analyst at Barclays, as saying on Monday. Oil prices extended big gains on Friday, as OPEC and its allies agreed to steepen production cuts by an additional 500,000 barrels a day, bringing the total cuts to 1.7 million barrels daily, This additional adjustment … [Read more...] about Oil prices fall following big gains of previous sessions