Oil

First import of Western Canadian crude since Aug 2015 arrives: In the LOOP

The Louisiana Offshore Oil Port last week received a cargo of Western Canadian crude, the heavy sour grade Access Western Blend, which appears to be the oil terminal’s first import from that region in recent history. Marathon imported last week about 579,000 barrels of 24.1 API Access Western Blend on the 109,000 mt Aframax tanker Seavoyager, which originally sailed from Vancouver, according to US Customs and Platts Analytics data. Cenovus

What will it take to re-start offshore drilling? | Fuel for Thought

As global crude oil has hit the $80/b mark, the industry is now wondering if there is a magic price that would jump-start the offshore sector which is lagging an otherwise steadily recovering oil patch. Higher crude prices near-term may not be enough to entice operators back to the risky business of greenfield offshore projects—as opposed to the warm fuzzies and quick payoff provided by North American shale. “Offshore is