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LNG imports moderated price increases in New England

As EIA informs, during winter 2018-2019, imports of LNG at terminals serving New England played an important role in moderating natural gas prices in the region. LNG imports are regasified at these terminals and then sent to natural gas distribution networks. Dpot natural gas prices in New England are more volatile during winter months, as cold weather drives increasing regional natural gas demand.

2018 the most profitable year for US oil producers in five years

EIA informed that net income for 43 US oil producers totaled $28 billion in 2018, which is a five-year high. According to the net income, 2018 was the most profitable year for these US oil producers since 2013, in spite of crude oil prices that were lower in 2018 than in 2013 on an annual average basis. These companies accounted for about one-third of total US crude oil and natural gas liquids production in the fourth quarter of 2018.

Drilled but uncompleted wells in US increase

According to EIA, the number of drilled, yet uncompleted wells in seven important oil and natural gas production areas in the US has seen an important increase the last two years. The rise was up to 8,504 wells in February 2019. March’s recent count was at 8,500 wells in March 2019, experiencing a 26% increase in comparison to March 2018.

US achieves new record in petroleum product exports in 2018

US exports of total petroleum products achieved a record high in 2018, reaching an annual average of 5.6 million barrels per day (b/d), which is an increase of 366,000 b/d from 2017 levels, EIA reports. The three largest petroleum product exports from the US in 2018 were distillate, propane, and motor gasoline. Total US petroleum product exports set a record high in 2018 for the 16th year in a row.

The US consumed record amounts of energy in 2018

According to EIA, primary energy consumption in the US reached a record high of 101.3 quadrillion British thermal units in 2018, an increase of 4% from 2017 and 0.3% more than the previous record set in 2007. The increase in 2018 was the largest increase in energy consumption, in both absolute and percentage terms, since 2010.

US exports crude oil in 42 destinations in 2018

According to EIA, in 2018, the US exports of crude oil increased to 2.0 million bpd, and almost doubled  the 1.2 million b/d rate in 2017. Export volumes by destination changed significantly during the year, as U.S. crude oil exports to China fell and exports to other destinations such as South Korea, Taiwan, and Canada increased.

Puerto Rico’s LNG imports return to pre-hurricane Maria numbers

According to EIA, in 2018 Puerto Rico’s liquefied natural gas imports were pretty close to 2016 annual levels, according to the recently released LNG Annual Report published by the U.S. Department of Energy’s Office of Fossil Energy. Its imports were severely affected by Hurricane Maria in September 2017.

Sumas sees highest daily natural gas spot prices in US since 2014

The Sumas trading point on the Canada-Washington border averaged $161.33 per million British thermal units on its natural gas spot prices on March 1. This is the highest daily spot price ever recorded by Natural Gas Intelligence anywhere in the United States in at least five years. The price peak was due to regional supply constraints and unseasonably cold temperatures.

EIA: US high sulphur fuel demand will rally due 2020 sulphur cap

The US Energy Information Administration (EIA) predicts that the share of high sulphur residual fuel oil consumed as bunker in the US will fall from 58% in 2019 to 3% in 2020, and then rebounds to 24% in 2022. The Administration highlights that the regulations will affect petroleum supply, demand, and trade flows on a more long-term basis.


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