Author Topic: Oil World Turned Upside Down as America Sells Oil in Middle East  (Read 1210 times)

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Offline IsailedawayfromFR

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Oil World Turned Upside Down as America Sells Oil in Middle East
« on: February 07, 2018, 05:59:43 pm »
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The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan oil.

Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly from the U.S. in December, according to data from the federal government. A tanker sailed from Houston and arrived in the Persian Gulf last month.

The cargo of American condensate, a type of very light crude oil, was preferred to regional grades because its superior quality made more suitable for the U.A.E’s processing plants, a person with knowledge of the matter said, asking not to be identified discussing a commercially sensitive matter.

“As a member of OPEC and a large crude producer, I would imagine they would be very self-sufficient in their own crude supply,” said Andy Lipow, president of Lipow Oil Associates LLC. The purchases of U.S. oil aren’t likely to continue, given the U.A.E.’s own supply, Lipow said.
https://www.newsmax.com/newsfront/oil-middle-east/2018/02/07/id/841881/
Seems we may have removed that yoke around our neck.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline Joe Wooten

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Re: Oil World Turned Upside Down as America Sells Oil in Middle East
« Reply #1 on: February 08, 2018, 01:45:29 am »
Seems we may have removed that yoke around our neck.

More like fracked it off.......

Offline thackney

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Re: Oil World Turned Upside Down as America Sells Oil in Middle East
« Reply #2 on: February 08, 2018, 01:48:15 pm »
Really the result of a political dispute between Qatar and its neighbors.

- - - - - - - - - - =

https://www.rigzone.com/news/wire/oil_world_turns_upside_down_as_us_sells_oil_in_middle_east-07-feb-2018-153439-article/

...The cargo of American condensate, a type of very light crude oil, was preferred to regional grades because its superior quality made more suitable for the U.A.E’s processing plants...

...The cargo was shipped from Enterprise Products Partners LP’s Houston terminal on the tanker Seoul Spirit, which arrived Jan. 31 at the Port of Ruwais in Abu Dhabi, according to ship tracking data compiled by Bloomberg.

Until last year, the U.A.E. relied on Qatar for its condensate supply. But the two countries are embroiled in a political dispute, and the U.A.E. decided in June to ban all petroleum ships from Qatar.
Life is fragile, handle with prayer

Offline IsailedawayfromFR

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Re: Oil World Turned Upside Down as America Sells Oil in Middle East
« Reply #3 on: February 08, 2018, 01:55:55 pm »
Really the result of a political dispute between Qatar and its neighbors.

- - - - - - - - - - =

https://www.rigzone.com/news/wire/oil_world_turns_upside_down_as_us_sells_oil_in_middle_east-07-feb-2018-153439-article/

...The cargo of American condensate, a type of very light crude oil, was preferred to regional grades because its superior quality made more suitable for the U.A.E’s processing plants...

...The cargo was shipped from Enterprise Products Partners LP’s Houston terminal on the tanker Seoul Spirit, which arrived Jan. 31 at the Port of Ruwais in Abu Dhabi, according to ship tracking data compiled by Bloomberg.

Until last year, the U.A.E. relied on Qatar for its condensate supply. But the two countries are embroiled in a political dispute, and the U.A.E. decided in June to ban all petroleum ships from Qatar.
Which we can extract value from.  If we didn't produce and have the product available, we had nothing on the table to offer.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline thackney

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Re: Oil World Turned Upside Down as America Sells Oil in Middle East
« Reply #4 on: February 08, 2018, 02:10:02 pm »
Which we can extract value from.  If we didn't produce and have the product available, we had nothing on the table to offer.

Very much agree.  The fact we have produced more than we need gives us the ability to compete with those closer with less transportation costs.
Life is fragile, handle with prayer

rangerrebew

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Oil World Turns Upside Down as U.S. Sells Oil in Middle East
« Reply #5 on: February 08, 2018, 02:12:27 pm »

Oil World Turns Upside Down as U.S. Sells Oil in Middle East
By Sheela Tobben
and Wael Mahdi
February 6, 2018, 4:58 PM EST Updated on February 7, 2018, 9:05 AM EST

    Cargo said to be condensate meant for Abu Dhabi’s splitters
    U.S. exported about 700,000 barrels to U.A.E.: Census Bureau

OPEC's Control of the Oil Market Is Running on Fumes

The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan oil.

Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly from the U.S. in December, according to data from the federal government. A tanker sailed from Houston and arrived in the Persian Gulf last month.

https://www.bloomberg.com/news/articles/2018-02-06/u-s-oil-heads-to-middle-east-in-latest-sign-of-shale-s-spread

Offline Mod1

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Re: Oil World Turned Upside Down as America Sells Oil in Middle East
« Reply #6 on: February 08, 2018, 02:29:59 pm »
Topics merged.