Subscribe to our Mailing Lists (It's free!)
Tuesday, May 24, 2022
SAFETY4SEA
  • Home
  • Safety
    • All
    • Accidents
    • Alerts
    • Loss Prevention
    • Maritime Health
    • Regulation
    • Safety
    • Seafarers
    • Security
    SAFEMODE project: Ten good practices for enhancing Safety Learning

    SAFEMODE project: Ten good practices for enhancing Safety Learning

    recaap isc

    ReCAAP ISC: Three incidents of armed robbery against ships in Asia

    IMCA

    Lessons Learned: Fatal accident onboard during securing of deck log cargoes

    EMSA: Key tips for the safe carriage of AFVs in RO-RO spaces

    EMSA: Key tips for the safe carriage of AFVs in RO-RO spaces

  • Green
    • All
    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
    • Pollution
    • Ship Recycling
    • Technology
    espo interferry

    ESPO, Interferry agree on priorities to ensure a sustainable ferry industry future

    european commission

    European Commission’s President: World has to diversify away from fossil fuels

    BEMA: Need for clear direction when a ship encounters a port with challenging water quality

    uk maritime technologies

    UK confirms £12 million for zero emission technologies in maritime

  • Smart
    • All
    • Connectivity
    • Cyber Security
    • E-navigation
    • Energy Efficiency
    • Maritime Software
    • Smart
    Fleet Safety to modernise maritime distress communication

    Fleet Safety to modernise maritime distress communication

    single window for ship data

    IMO: Single window for ship data exchange to become mandatory

    Drewry

    New collaboration to boost ports and terminals’ sustainability credentials

    deepsea technologies

    Research explores ways to verify ships’ accuracy of AI-generated model

  • Risk
    • All
    • CIC
    • Detentions
    • Fines
    • PSC Focus
    captain arrested

    Ship captain faces life imprisonment after being charged with importing drugs

    abs psc

    ABS Port State Control Q1 Report

    engineer pleads guilty

    Chief Engineer admits to intentional discharge of oily waste and lying to USCG

    uk shore power

    UK clarifies amendments to Russia sanctions

  • Others
    • All
    • Diversity in shipping
    • Maritime Knowledge
    • Offshore
    • Ports
    • Reports
    • Shipping
    • Sustainability
    • Videos
    european commission

    European Commission’s President: World has to diversify away from fossil fuels

    WiGS: Diversity, inclusion and equality are the key words for the maritime industry to remain competitive

    All Aboard Alliance: Stakeholders collaborate for a diverse, equitable, and inclusive maritime industry

    mol nyk plastic

    Plastic recycling plant to be constructed at port of Rotterdam by the end of 2022

    port of rotterdam

    How Russia’s invasion of Ukraine impacts the port of Rotterdam

  • Columns
    Fleet Safety to modernise maritime distress communication

    Fleet Safety to modernise maritime distress communication

    Enclosed space entry

    Who is to blame for the repeated occurrence of accidents in enclosed space?

    Poseidon Principles for Marine Insurance

    Poseidon Principles for Marine Insurance

    Trending Tags

    • Career Paths
    • Industry Voices
    • Maripedia
    • Maritime History
    • Resilience
    • Seafarers Stories
    • SeaSense
  • Events
  • Plus
No Result
View All Result
  • Home
  • Safety
    • All
    • Accidents
    • Alerts
    • Loss Prevention
    • Maritime Health
    • Regulation
    • Safety
    • Seafarers
    • Security
    SAFEMODE project: Ten good practices for enhancing Safety Learning

    SAFEMODE project: Ten good practices for enhancing Safety Learning

    recaap isc

    ReCAAP ISC: Three incidents of armed robbery against ships in Asia

    IMCA

    Lessons Learned: Fatal accident onboard during securing of deck log cargoes

    EMSA: Key tips for the safe carriage of AFVs in RO-RO spaces

    EMSA: Key tips for the safe carriage of AFVs in RO-RO spaces

  • Green
    • All
    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
    • Pollution
    • Ship Recycling
    • Technology
    espo interferry

    ESPO, Interferry agree on priorities to ensure a sustainable ferry industry future

    european commission

    European Commission’s President: World has to diversify away from fossil fuels

    BEMA: Need for clear direction when a ship encounters a port with challenging water quality

    uk maritime technologies

    UK confirms £12 million for zero emission technologies in maritime

  • Smart
    • All
    • Connectivity
    • Cyber Security
    • E-navigation
    • Energy Efficiency
    • Maritime Software
    • Smart
    Fleet Safety to modernise maritime distress communication

    Fleet Safety to modernise maritime distress communication

    single window for ship data

    IMO: Single window for ship data exchange to become mandatory

    Drewry

    New collaboration to boost ports and terminals’ sustainability credentials

    deepsea technologies

    Research explores ways to verify ships’ accuracy of AI-generated model

  • Risk
    • All
    • CIC
    • Detentions
    • Fines
    • PSC Focus
    captain arrested

    Ship captain faces life imprisonment after being charged with importing drugs

    abs psc

    ABS Port State Control Q1 Report

    engineer pleads guilty

    Chief Engineer admits to intentional discharge of oily waste and lying to USCG

    uk shore power

    UK clarifies amendments to Russia sanctions

  • Others
    • All
    • Diversity in shipping
    • Maritime Knowledge
    • Offshore
    • Ports
    • Reports
    • Shipping
    • Sustainability
    • Videos
    european commission

    European Commission’s President: World has to diversify away from fossil fuels

    WiGS: Diversity, inclusion and equality are the key words for the maritime industry to remain competitive

    All Aboard Alliance: Stakeholders collaborate for a diverse, equitable, and inclusive maritime industry

    mol nyk plastic

    Plastic recycling plant to be constructed at port of Rotterdam by the end of 2022

    port of rotterdam

    How Russia’s invasion of Ukraine impacts the port of Rotterdam

  • Columns
    Fleet Safety to modernise maritime distress communication

    Fleet Safety to modernise maritime distress communication

    Enclosed space entry

    Who is to blame for the repeated occurrence of accidents in enclosed space?

    Poseidon Principles for Marine Insurance

    Poseidon Principles for Marine Insurance

    Trending Tags

    • Career Paths
    • Industry Voices
    • Maripedia
    • Maritime History
    • Resilience
    • Seafarers Stories
    • SeaSense
  • Events
  • Plus
No Result
View All Result
SAFETY4SEA

EIA: US crude oil production increases, imports remain strong

by The Editorial Team
February 27, 2020
in Fuels
us crude oil

Credit: US EIA

FacebookTwitterEmailLinkedin

By augmenting the relatively light domestic crude oil production with relatively heavy crude oil imports, the United States has significantly increased its ability to export refined product, according to the US EIA.

In general, domestically produced crude oil is light when compared with imported oil.

For example, in 2018, 56% of the oil produced in Texas, the largest crude oil-producing state, was relatively light with an API gravity between 40 and 50 degrees.

At the same time, 58% of imported crude oil was relatively heavy with an API gravity of less than 25 degrees.

RelatedNews

New additive helps to reduce fuel consumption

Rio Tinto, BP to carry out one-year trial of marine biofuels

Because of higher domestic production, the US has exported more oil and petroleum products, combined, than it has imported since September 2019.

US refineries rely on imports as feedstock to optimize production and maximize profits.

For instance, as of January 2019, US refineries had more than 3 million barrels per day of coking capacity.

This capacity is used to process heavy and medium crude oils efficiently and would likely be underutilized if a refinery chose to only run domestically produced light crude oil because coking units are designed to convert heavy, low-value intermediates into high-value naphthas and distillates.

In addition to the differences in crude oil quality, the refiner acquisition cost of crude oil can be different for domestic and imported barrels.

The refiner acquisition cost is the total amount that a refiner can expect to pay for crude oil, including freight costs and other transportation fees.

Traditionally, heavy and medium crude oils trade at a discount to light, sweet crude oils.

Since 2012, the increase in the share of imported crude oils with lower API gravity (heavier oil) has resulted in a lower refiner acquisition cost for imported crude oil when compared with the domestically produced higher API gravity (lighter oil) volumes.

The refiner acquisition cost has a direct impact on the profitability of a particular crude oil as a refinery feedstock, as measured with a 3:2:1 crack spread.

Since 2013, the monthly average crack spread for US refineries on the Gulf Coast (using PADD 3 refiner acquisition costs and US Gulf Coast diesel and gasoline prices) has been greater for imported crude oil and only deviated from this pattern in six months of those years.

Refineries that can import and process heavy, sour crude oil have an economic incentive to do so, even with expanding US crude oil production.

In September 2019, domestic crude oil production in the US increased to more than 12 million barrels per day (b/d), making the US a net exporter of petroleum (crude oil and petroleum products) for the first time since monthly records were established in 1973.

  • Crude oil imports reached a record-high average of 10.1 million b/d in 2005 and fell to an average of 6.8 million b/d in 2019.
  • During this time period, the source of these imported heavy, high-sulfur crude oils significantly changed. In November 2019, more than 65% of US crude oil imports came from Canada or Mexico.
  • US crude oil exports have increased since the restrictions on exporting domestically produced crude oil were lifted in December 2015.
  • US crude oil exports have increased from 591,000 b/d in 2016 to 3.0 million b/d in 2019.

In the Annual Energy Outlook 2020 Reference case, EIA projects that the US will remain a net exporter of total petroleum liquids; however, the US will remain a net importer of crude oil through 2050.

Tags: EIAUS

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

SAFEMODE project: Ten good practices for enhancing Safety Learning

SAFEMODE project: Ten good practices for enhancing Safety Learning

May 24, 2022
espo interferry

ESPO, Interferry agree on priorities to ensure a sustainable ferry industry future

May 24, 2022
MARITIME EVENTS

Newsletter

GET THE SAFETY4SEA IN YOUR INBOX!

Explore

  • Safety
  • Green
  • Smart
  • Risk
  • Others
  • Events
  • Plus

Useful Links

  • About
  • Disclaimer
  • Editorial Policies
  • Advertising
  • Contact

© 2021 SAFETY4SEA

No Result
View All Result
  • Safety
    • Alerts
    • Accidents
    • Loss Prevention
    • Maritime Health
    • Regulation
    • Safety
    • Seafarers
    • Security
  • Green
    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
    • Pollution
    • Ship Recycling
    • Technology
  • Smart
    • Connectivity
    • Cyber Security
    • E-navigation
    • Energy Efficiency
    • Maritime Software
    • Smart
  • Risk
    • CIC
    • Detentions
    • Fines
    • PSC Focus
    • Vetting
  • Others
    • Diversity in shipping
    • Maritime Knowledge
    • Offshore
    • Ports
    • Reports
    • Shipping
    • Sustainability
    • Videos
  • Columns
    • Opinions
    • Career Paths
    • Industry Voices
    • Maripedia
    • Maritime History
    • Seafarers Stories
    • SeaSense
  • Events
  • Plus

© 2021 SAFETY4SEA

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Disclaimer.