Fuels

US sets new record in crude oil production, report says

The American Petroleum Institute (API) released its industry outlook for the third quarter of 2018. The report shows the US achieved another new record for crude oil production of 10.8 million barrels per day (MBD) over the past two months. However, US petroleum exports decreased by 1.3 million barrels per day since June.

Overall, US’s petroleum trade balance went from net imports of 2.9 MBD in June to 4.54 MBD in August, which is a 56%  increase in two months.

Nevertheless, API Chief Economist...

https://safety4sea.com/us-sets-new-record-in-crude-oil-production-report-says/

OPEC: US oil output to increase, but demand for OPEC crude will reduce

OPEC expects a steady rise in US oil output, as it will gain momentum in the next five years. OPEC also expects the demand for its crude to reduce, in spite of an increasing appetite for energy driven by global economic expansion.

The reduction in demand for OPEC crude is due to a strong non-OPEC supply in the 2017–2023 period, OPEC notes. The US is still the most important source of medium-term supply growth, contributing to two-thirds of new supply.

In addition, according to Reuters, the US has...

https://safety4sea.com/opec-us-oil-output-to-increase-but-demand-for-opec-crude-will-reduce/

Full development of LNG as a fuel to be seen between 2024-2028

In an exclusive interview with SAFETY4SEA during Gastech 2018, Mr. Alexander Prokopakis, CEO at probunkers, highlighted that ‘LNG is the future’ and revealed their ambitious action plan with the aim to become a ‘premium provider’ of LNG. Probunkers is a new LNG bunkering project which made its debut at Posidonia earlier this year. As explained, the project involves four stages (Planning, Financing, Implementation, Operations and Sales) and probunkers will have a three-tier role, as Physical...

https://safety4sea.com/cm-full-development-of-lng-as-a-fuel-to-be-seen-between-2024-2028/

K Line to use various measures to comply with 2020 sulphur cap

In its report for 2018, K Line describes its plan to comply with the 2020 sulphur cap regulation. The company said that it will proceed by a ship-by-ship basis, as it plans to use a range of compliance methods.

As K Line specifically said in the report:

We will use low-sulfur fuel, install SOX removal equipment, convert fuel to LNG and otherwise proceed with optimal measures on a ship-by-ship basis.

Currently, rules regarding sulphur concentration in marine fuel are attracting particular...

https://safety4sea.com/k-line-to-use-various-measures-to-comply-with-2020-sulphur-cap/

Partner trio team up to promote LNG as a fuel

With the growing relevance of LNG as a sustainable alternative to fossil fuels, Sembcorp Marine, ABS, and A*STAR’s Institute of High Performance Computing (IHPC) announced a collaboration to develop new technologies, applications and capabilities in the offshore, marine and energy sectors that will advance the adoption of LNG as a globally preferred fuel.

Through this collaboration, the three organisations aim to make LNG more accessible, reliable and safer for industry and domestic consumption....

https://safety4sea.com/partner-trio-team-up-to-promote-lng-as-a-fuel/

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