Sentences with phrase «oil imports for»

What are the implications of rising oil imports for the region?

By way of calibration, this would essentially eliminate the need for oil imports for passenger vehicle fuel and would require only the amount of land now in the soil bank (the Conservation Reserve Program («CRP») on which such soil - restoring crops as switchgrass are already being grown.

That is certainly good for the living standards of people in societies that are dependent on oil imports for production, transportation and heating.

The U.S. Energy Department said algae - based fuels have the potential to displace 17 percent of the oil imported for use in the transportation sector and in August, Sapphire secured a $ 5 million grant from the federal government to help develop the refining process for algae - based fuels.

«We're making new investments in the development of gasoline and diesel and jet fuel that's actually made from a plant - like substance — algae... we could replace up to 17 percent of the oil we import for transportation with this fuel that we can grow right here in America.»

Not exact matches

Although the oil price and the dollar have moved in tandem for the last few weeks, the two generally tend to trade in the opposite direction, as a stronger dollar encourages non-U.S. investors to sell oil and crude - importing countries to curtail their purchases.

For oil - importing countries we expect growth this year to be 4.7 percent, coming up from 4.2 percent last year.

«The good news is that the regional growth is improving for both oil - importing and oil - exporting, yet the region is not fully benefiting from the improvement in the global outlook and this requires countries in the region to pursue the reform agenda,» he said.

About a half of those imports are heavy naphtha, bought by PDVSA to dilute its extra heavy oil output and make it suitable for export.

«The good news of this recovery this year is that the outlook is positive for both oil - importing countries and oil - exporting countries,» Jihad Azour, director of the Middle East and Central Asia Department at the IMF, told CNBC's Hadley Gamble on Monday.

«This decision clearly flies in the face of volumes of scientific evidence that shows the Keystone XL pipeline would be safe, enhance environmental standards, and be a more cost - effective alternative to importing oil from overseas,» said Michael Whatley of the Consumer Energy Alliance, which advocates for the energy industry.

Still, though China has managed not to rely on any single country for more than a small percentage of its oil needs, its imports are still quite concentrated in terms of geographical region and in unstable regions at that, namely the Middle East and Africa.

For one thing, the concerns over the decline in crude oil prices may be overdone, it said, adding that the economy is still resilient and Malaysia is likely to maintain a trade surplus as demand for imports is also softening along with exporFor one thing, the concerns over the decline in crude oil prices may be overdone, it said, adding that the economy is still resilient and Malaysia is likely to maintain a trade surplus as demand for imports is also softening along with exporfor imports is also softening along with exports.

By contrast, economic growth in Canada contracted in the first half of the year and business investment — the most important factor in demand for imports — collapsed along with oil prices.

In a story yesterday, the news agency reported that US oil imports form Africa were greater than those from the Middles East in 2006, for the first time in 21 years, according to government data.

Hypocrisy aside, it is a preferable sort of regulation in that it aims to set a standard for oil imports to meet, rather than blacklisting an entire producing region.

President Trump's threat to impose tariffs on metal imports could create a perfect storm for oil prices to crash, a strategist told CNBC.

China is taking its first steps towards paying for imported crude oil in yuan instead of the U.S. dollar, three people with knowledge of the matter told Reuters.

Meanwhile, U.S. net imports of crude oil fell last week by 1.6 million bpd to 4.98 million bpd, the lowest level since the EIA started recording the data in 2001, reflecting further erosion in a market OPEC has been relying on for decades.

«While the increase in U.S. production of crude oil and the reduced U.S. demand for transportation fuels will likely reduce the demand for total U.S. crude oil imports, it is unlikely to reduce demand for heavy sour crude at Gulf Coast refineries.»

According to Reuters, it is now cheaper for East Coast refiners to import oil from South America, Africa, or the Middle East, than it is to buy oil from North Dakota.

In the past it was used to ship imported oil west into Ontario; in the future, it will likely ship prairie oil east into Quebec refineries hobbled at having to pay the higher Brent price for oil.

CNBC's Jackie DeAngelis takes a look at what's at stake for the energy industry if the U.S. imposes an import tax on oil.

The port is one of only a few in Shandong, China's main oil importing province, where Very Large Crude Carriers (VLCCs) carrying 2 million barrels of oil per trip can discharge oil to be pumped through pipelines for state and private refineries.

She mentioned that, despite the shale - oil boom, the U.S. would continue to need energy imports «for a very long time.»

The U.N. Security Council has unanimously boosted sanctions on North Korea since 2006 in a bid to choke off funding for Pyongyang's nuclear and ballistic missile programs, banning exports including coal, iron, lead, textiles and seafood, and capping imports of crude oil and refined petroleum products.

Bartlett built a model that mirrors StatsCan's methodology for tallying quarterly GDP and that also includes some U.S. indicators, such as oil imports.

For the Middle East's oil - importing nations, economic growth is expected to remain steady at...

The U.S. Energy Information Administration (EIA) reported last week that China imported more crude oil than the U.S. for the first time in 2017.

Because oil and refined products are traded in dollars, their import costs rise for countries using other currencies, potentially crimping demand.

«Following Russia's recent acceptance of the renminbi as payments for oil, we expect more record high oil imports ahead to China,» Gordon Kwan, the Hong Kong - based head of regional oil and gas research at Nomura Holdings Inc., said in an e-mail, referring to the Chinese currency.

As for consumers, it bears asking whether they're really any better off paying high prices for oil that's pumped close to home versus crude that's imported from overseas.

That suggests it could be critical for Mr. Trudeau to convince Mr. Trump that he should consider Canadian oil like U.S. oil — in other words, that the U.S. should not count Canadian oil as an import when they consider their trade balance.

Beyond the actual gas project and LNG sales, China's state - run shipping conglomerate COSCO has also secured a 50 percent stake in the four LNG shipping carriers serving Yamal.90 Chinese engineers and workers have been deployed to the Yamal Peninsula to help construct surrounding infrastructure, which includes a Chinese - produced polar drilling rig.91 Moreover, a Chinese oil and gas rig producer now provides Russia with about 60 percent of its imported oil rig supplies, indicating that China is becoming a dominant player in this sphere.92 Chinese media recently hailed Yamal as an example of China's construction and engineering prowess and a symbol of its transformation into an Arctic player.93 In return for China stepping into support the project, senior officials from Novatek, the main shareholder of the project, announced that the first LNG shipment would symbolically go to China.94 But a British subsidiary of Malaysia's Petronas purchased the first shipment of Yamal LNG and sold it to France's Engie, which then shipped the cargo to its Boston import facility for American use.95 Western sanctions on Novatek, Russia's largest independent national gas producer and a company with close ties to the Kremlin, made Yamal's pivot to China possible, as sanctions forced Russia to find an alternative source of investment and technology.

Chinese demand for commodities, which were up 25 percent in 2016, is indeed skyrocketing, with imports of oil, iron ore, copper and soybeans reaching all - time highs last year.

In the first eight months of the year, Saudi Arabia accounted for less than 8 percent of eastern Canada's oil imports.

3) A series of trade and / or security incidents could develop that would have for unfortunate consequence limiting the ability of China to import oil or coal or other strategic minerals;

For example, Phillips 66» Sweeny Refinery in Old Ocean, Texas imported over 46 million barrels of Venezuelan oil last year, the most out of any other refinery.

It is important for oil and refined product imports and exports, it is an important storage area for oil and refined products, and much of the Strategic Petroleum Reserve is close by.

A more severe action reportedly under consideration would be a ban on Venezuelan crude oil imports into the U.S., which would likely have far - reaching implications for Venezuela, the U.S., and the oil market.

A ban on Venezuelan oil would strain the market for heavy crude in the U.S., which is already tightening because of declining imports of medium sour oil from Saudi Arabia.

The US oil - rig count plateaued near the highest level in three years and showed signs of declining in late March (to 797), though it still stood 50 rigs above the year - end 2017 total.2 This contributed to expectations for a further increase in American crude production, which has topped 10 mb / d each week since early February, when WTI prices began to recede from their intra-quarterly high of US$ 66.14 a barrel.3 The amount of crude in US storage occasionally exceeded weekly estimates given the higher domestic output and fluctuating net import figures, reigniting fears that US production may thwart OPEC's efforts to clear global oversupply.

In the last two years, for the first time, the value of U.S. energy exports to Mexico (mainly petroleum products) has been greater than the value of energy imports from Mexico (mostly crude oil).

In addition, since Eastern Canada continues to import oil, and since they are importing oil principally from overseas and not from the Midwest, they are paying premium price for oil.

The U.S. refines crude oil — including the imports from Canada — both for its own consumption and for export.

A strong dollar makes imported goods more affordable for American consumers, while it's estimated that weak oil prices will put roughly $ 500 into the wallet of the average American driver.

Crude oil imports registered an 11.4 percent increase to ¥ 711.3 billion, up for the 14th straight month.

Oil imports into Canada account for about 20 - 25 percent of the total exports, with the US meeting more than 50 percent of the import requirements.

With Asia's rapidly growing need for energy imports in the early 2000s, Canada hoped to reduce its almost 100 % reliance on the United States as an export market for oil and natural gas by expanding to Asia.

The electric company, PREPA, relied on selling bonds to pay for the imported oil it burned at its power plants.