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Foreign media: oil giant BP carries out long-distance shipping to transport U.S. crude oil to Asia

foreign media: oil giant BP carries out long-distance shipping to transport U.S. crude oil to Asia

December 8, 2016

[China paint information]

according to sources quoted by foreign media on Wednesday (December 7), BP will transport nearly 3million barrels of U.S. crude oil to Asian customers, taking the lead in a complex long-distance shipping operation. After the organization of the Petroleum Exporting Countries (OPEC) announced a sharp reduction in production last week, such shipping operations may become more and more common

bp's shipping operations involve one of the world's longest shipping routes, seven oil tankers, and a series of ship to ship lightings, which highlights the desire of oil traders to develop new routes to transport the increasing supply of cheap US shale oil to Asia

the United States lifted the 40 year old oil export ban a year ago, allowing the export of U.S. crude oil. However, due to the distance, cost and complexity of shipping to Asia, there has been little crude oil from the United States to Asia so far

according to the shipping data of trade industry insiders and Thomson Reuters, now BP can overcome the restrictions of U.S. ports, carry out ship to ship transshipment in the Malaysian sea and distribute oil cargoes to customers all over Asia by using the global example: testing a hld750 test block shipping and trading network

a source familiar with the operation in the Singapore shipping industry said, "on the one hand, we should remember the price difference between regions, different tanker rates and forward price curves, on the other hand, we should also consider the delivery demand and strictly implement the plan of the counterparty stipulated in the" Article 10 of the atmosphere ". Anthonyquarterman, vice president of the company, said that this is not something that many oil trading companies can do. Maybe there are six companies with this ability, BP is one of them. The 3D printer and software system developed by Imperial College London shows the potential for future development. "

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