Gulf deepwater crude impacts downstream disposition

Rapid growth in deepwater Gulf of Mexico production will seriously affect all segments of the North American oil industry in the coming years.Deepwater exploration and production, defined by the US Minerals Management Service (MMS) as that located in water depths of 1,000 ft or greater, has become technologically and economically feasible within only a few years. And technology is continuing to advance rapidly.Changes are on the horizon for deepwater producers, ranging from regulatory action to allow the use of floating production, storage, and offloading (FPSO) vessels to resolution of economic and logistic issues associated with marketing the new production.How will the US crude oil mar...

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