03262019Tue
Last updateTue, 26 Mar 2019 2pm

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Govt. Shutdown Threatens Proposed Oil Export Terminals

During the partial government shutdown, [t]he U.S. Department of Transportation’s Maritime Administration, which oversees the permitting of deep water oil and natural gas import and export terminals, has been closed,” The Houston Chronicle reports. “That has put at least three proposed crude oil export terminals along the Gulf Coast in limbo, including an export terminal south of Galveston developed by Houston pipeline and storage terminal operator Enterprise Products Partners.” 


IEA: 'Challenging' 2019 for Refining Industry Predicted

Last month, the International Energy Agency (IEA) asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Following an initial burst of enthusiasm for the deal, skepticism set in, alongside worries about the global economic background.

In the meantime, refiners face a challenging year. Processing capacity will increase by 2.6 million b/d, the biggest growth for four decades, while margins are already pressured by low gasoline cracks due to oversupply and weak demand. 

U.S. Southwest Ranks First in North American Refinery Turnaround Spending

Industrial Info is tracking $1.87 billion in planned refinery turnaround spending in North America with kickoffs in 2019. The Southwest region, home to approximately 50% of the U.S. refining capacity, ranks the highest in terms of spending, with just over $733 million planned this year. Western Canada is in a distant second, with more than $200 million. 

Project Spending by Market Region Name

Oil Majors to Increase Offshore Spending

“After four years of cutbacks, oil companies are poised to open their purses again and develop new offshore fields, although the benefits won’t be spread equally across the companies who provide them everything from seismic surveys to pumps and turbines,” Bloomberg reports.

“The long-awaited spending rebound will re-energize oil-services providers that have survived the deepest crisis in a generation thanks to cost cuts, mergers and sometimes painful debt restructuring. But for some debt-laden suppliers, the investment pickup may come too late.” 

Oil Export Terminal Off Texas Coast Proposed

A joint venture consisting of Enbridge, Kinder Morgan and German company Oiltanking “is proposing to build an offshore export terminal that will be capable of receiving supertankers in the Gulf of Mexico just south of Freeport,” The Houston Chronicle reports.

“The proposed terminal will require approval by federal regulators, but early plans show that the facility will be supported by an underwater pipeline. If approved and completed, the terminal will be able to receive and fully load Very Large Crude Carriers, or VLCCs, which can carry up to 2 million barrels of oil.” 

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