Oil World Turns Upside Down as U.S. Sells Oil in Middle East

Oil World Turns Upside Down as U.S. Sells Oil in Middle East

Postby Maddog » Thu Feb 08, 2018 12:33 am

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.

https://www.bloomberg.com/amp/news/arti ... e-s-spread


:thumbsup:
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Re: Oil World Turns Upside Down as U.S. Sells Oil in Middle East

Postby Puzzler » Thu Feb 08, 2018 5:51 am

Virgin Saudi VS Chad Houthi applies so much right now.
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Re: Oil World Turns Upside Down as U.S. Sells Oil in Middle East

Postby Guest » Thu Feb 15, 2018 12:40 pm

Maddog wrote: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.

https://www.bloomberg.com/amp/news/arti ... e-s-spread


:thumbsup:


Only a moron would think that all oil is exactly the same and that there is no market for each varient of oil.
The UK sold Brent Crude to Saudi because it is a different oil to the oil from Saudi wells.
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Re: Oil World Turns Upside Down as U.S. Sells Oil in Middle East

Postby Rolluplostinspace » Thu Feb 15, 2018 12:45 pm

Maddog wrote:
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 ....
https://www.bloomberg.com/amp/news/arti ... e-s-spread


:thumbsup:

This person of knowledge hid after making the statement.
If anyone actually made the statement that is.
Why would the UAE's processing plants be more suited for a product they don't have.
I wonder if they have loads of forestry equipment for forests they don't have.
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Re: Oil World Turns Upside Down as U.S. Sells Oil in Middle East

Postby Is it me? » Thu Feb 15, 2018 12:49 pm

Rolluplostinspace wrote:
Maddog wrote:
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 ....
https://www.bloomberg.com/amp/news/arti ... e-s-spread


:thumbsup:

This person of knowledge hid after making the statement.
If anyone actually made the statement that is.
Why would the UAE's processing plants be more suited for a product they don't have.
I wonder if they have loads of forestry equipment for forests they don't have.


Twats lap up this type of shit story with no critical thought to challenge this bollocks.
Cracks me up every time.
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Re: Oil World Turns Upside Down as U.S. Sells Oil in Middle East

Postby Trapper John » Thu Feb 15, 2018 12:52 pm

Maddog wrote: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.

https://www.bloomberg.com/amp/news/arti ... e-s-spread


:thumbsup:


It's not unknown - over here we used to call it selling coals to Newcastle and there are numerous other analogies.

I don't think the ordinary punter realises there are many grades and types of oil in the ground. Few can be be used or processed without the addition of others. North Sea Oil for instance is next to useless on it's own because it's so heavy and has to be mixed with other grades to make it useful.
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