Tag: US

Wells drilled horizontally into tight oil and shale gas formations continue to account for an increasing share of crude oil and natural gas production in the US, according to EIA. In 2004, horizontal wells accounted for about 15% of US crude oil production in tight oil formations.

As Rystad Energy reports, the overall US oil production is on track for another record year. The company forecasts that the US crude output will reach the 13.4 million barrels per day by December 2019, whereas May's crude oil production is expected to reach the average of 12.5 million bpd.

Amid the imposition of sanctions related to Venezuela, and the current political volatile situation in the country, MSC informed that it will apply, with immediate effect a War Risk Premium surcharge on cargo coming from worldwide destinations into Venezuela.

After the Senate passed a bill to purchase 2GW of the renewable energy source, Connecticut announced that it will join New York, New Jersey and Massachusetts in constructing a $70 billion offshore industry, along the Atlantic seaboard.

As Reuters reports, the Trump Administration applied heavy restrictions including banning cruises from the US to Cuba, as Cuba supports Venezuelan President, Nicolas Maduro. The US no longer permits visits to Cuba through passenger and recreational vessels. 

As EIA informs, US production of hydrocarbon gas liquids reached 5 million barrels per day (b/d) in 2018, which is an increase of over 0.5 million b/d (13%) compared to 2017 levels. HGLs accounted for more than a quarter of total US petroleum products output in 2018.

The Republic of the Marshall Islands (RMI) issued an advisory informing that the US has designated Petróleos de Venezuela, S.A. (PdVSA) as a Specially Designated National and Blocked Person (SDN) and therefore RMI will be unable to provide services to vessels linked to PdVSA.

The Alameda County Transportation Commission received $12.45 million from the California Transportation Commission to apply the Freight Intelligent Transportation System program at the Port of Oakland. FITS consists of 15 freight technology demonstration projects, aiming to address traffic management, security systems and roadway improvements at the Oakland seaport. The funding comes from California Senate Bill 1 funds.

According to local reports, a fire broke out in the engine room of cargo vessel Cape Knox, in May 31, while it was berthed at the Poland Avenue Wharf in New Orleans, Louisiana. The fire department deployed fire engines, but the fire smouldered inside a roughly 100-square-foot container near the ship’s engine room. The container was filled with diesel fuel sludge.

US Acting Secretary for Defense, Patrick M. Shanahan, revealed the US plan regarding the Indo-Pacific security, during the International Institute for Strategic Studies Shangri-La Dialogue in Singapore. Mr. Shanahan presented the key aspects of the Department of Defense’s Indo-Pacific Strategy Report, which was released on June 1.