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Shipping rates to Asia have doubled in the past three weeks after the Organization of Petroleum Exporting Countries, which pumps about 40 percent of the world's oil, last month agreed to raise daily production quotas by 500,000 barrels to 28 million barrels. OPEC raised quotas July 1 in a bid to lower record oil prices that threatened global economic growth.

The bookings are ``clear evidence that OPEC's sailings have gone up, even by more than the 500,000 barrel-a-day increase they pledged,'' said Roy Mason, the founder of consulting company Oil Movements, based in Halifax in Britain. ``Normally bookings reach a trough during this time of the year.'' ..Freight rates to the U.S. Gulf Coast have climbed by two- thirds in just over three weeks. .

heavy sour crude

EnergySpin wrote:

heavy sour crude

I read somewhere that no one wants Saudi's extra output because it is full of Vanadium and other heavy metals. Hmmmmmmmmm time to depress IQ even more among Western children

Maybe they'll start "stepping on it" like they do with smack and cocaine. Shocked You know, cut the sour with a little sweet or vice versa

Sys1 wrote:Sorry but if those ships are sailing though thousands of miles, i presume some countries are ok to buy this oil because THEY HAVE the possibility to refine it ... ?

Spilled gas causes big blast in QC
By Jing Villamente

A large blast rocked a residential subdivision in Quezon City at dawn yesterday after a Shell gas tanker spilled thousands of liters of unleaded gasoline into the sewer where it caught fire and exploded, sending heavy manhole covers flying into the air.

The fire gutted one of the shanty houses around Don Antonio Heights in QC and one resident suffered serious cuts and third-degree burns. Fifteen other people sustained minor injuries.

Gas tanker leak sets off explosions in QC; 39 injured, 100 shanties razed
By AARON B. RECUENCO

A leak from a gasoline tanker triggered a series of explosions in a residential area in Quezon City yesterday morning, inflicting serious injuries to at least 39 people and setting at least 100 shanties on fire.

Police and fire officials have ruled out terrorism in the incident.

Arson investigators said they have yet to find out how gasoline leaked from the tanker owned by Pilipinas Shell as well as to determine if its driver, identified as Darnel Imbol, could be held liable for the apparent accident.

rogerhb wrote:Evidently we've also passed peak literacy as well.

LNG Briefs: Conservative Leader Against LNG In Maine; Public Input Sought On NB Gas Pipeline Corridor (link)
Maine Story - New Brunswick Story
Tom McLaughlin, WQDY-WALZ News Director
Thursday, September 15, 2005

Conservative leader and Leader of the Opposition, Stephen Harper said last week the federal government is courting an environmental disaster with its silence on the proposed location for a new Liquefied Natural Gas (LNG) terminal in Maine.

"Once again, the Liberals are missing in action and neglecting the environmental and economic interests of Canadians," said Harper. "When it comes to matters of international importance, they would rather sit on their hands than stand up for Canada."

Maine-bound LNG tankers will have to navigate Head Harbour Passage, a Canadian waterway and the only entrance to Passamaquoddy Bay.

Harper said "the Conservative party recognizes the importance of LNG as part of North America's energy program in the twenty-first century. However, there are well-founded concerns about the construction and operation of LNG terminals in ecologically sensitive areas like Passamaquoddy Bay."

There are now three proposals for LNG import facilities in Maine.

One is proposed at Split Rock on the Passamaquoddy Reservation at Pleasant Point, another is planned for Mill Cove in Robbinston, and the third in Calais.

Harper said, "the LNG terminal in Passamaquoddy Bay is yet another example of the Liberals' poorly managed Canada/US relationship."

Earlier this week, Irving Oil Limited and Repsol YPF, S.A., announced the initial phase of construction for the Canaport LNG project in Saint John, NB, was about to begin.

The Canaport LNG terminal will be operational in 2008, initially delivering 1 billion cubic feet per day of regassified LNG into the market.

Meanwhile, Maritimes & Northeast Pipeline (M&NP) is proposing to construct and operate a 30-inch diameter natural gas pipeline from the planned Canaport LNG facility near Saint John, NB, to Baileyville, Maine.

According to M&NP, they are seeking public input regarding the preliminary routing of the pipeline corridor. Environmental and socio-economic studies throughout the proposed pipeline development area are now underway.

An open house on the project is scheduled in St. Stephen September 21 from 3 to 8:30 p.m. at the Royal Canadian Legion Branch, 73 Queen Street West.

M&NP says after completion of the studies and consideration of public input, they will apply for regulatory approval later this year to construct the proposed pipeline and related facilities.