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US Gulf Coast became a net exporter of crude oil in late 2018

In the last two months of 2018, the US Gulf Coast exported more crude oil than it imported, with monthly net trade of crude oil in the US Gulf Coast region falling from a high in early 2007 of 6.6 million barrels per day of net imports to 0.4 million b/d of net exports in December 2018, according to EIA.

EIA: US Gulf Coast refinery hydrogen demand met by merchant suppliers

According to EIA, petroleum refineries in the US Gulf Coast rely more and more on merchant suppliers, instead of their own production, to provide the hydrogen used to reduce the sulphur content of fuel. Namely, with the demand for distillate fuel oil increasing, and sulphur content regulations becoming stricter, refineries need to use more hydrogen.

EIA: US natural gas production achieves new record high in 2018

According to EIA US natural gas production experienced an increase by 10.0 billion cubic feet per day in 2018, noting an 11% rise in comparison to 2017. The development reported was the largest annual increase in production on record, establishing a record high for a second year in a row.

EIA: US natural gas processing plant capacity increases

EIA estimates that between 2014 and 2017 natural gas processing capacity and processing throughput increased by around 5%, even as the number of individual plants reduced. Natural gas processing plant utilization rates stayed still at 66% from 2014 to 2017, but numerous states saw significant changes, largely reflecting changes in natural gas production across regions.

EIA: Global liquid fuels production to surpass demand

As EIA informs, despite relatively lower supply from various major crude oil-producing countries, including Saudi Arabia, Libya, Venezuela, and Canada, global liquid fuels production will surpass global consumption through 2020. In addition, the reduction in oil production from OPEC countries and Canada are probably contributing to rising prices of medium and heavy crude oils compared with light crude oils.

EIA: US biofuels production, consumption, and trade stable in 2020

EIA launched its February  2019 Short-Term Energy Outlook (STEO), according to which several recent trends in US biofuels markets will continue in 2020. In the outlook the production of fuel ethanol and net imports of biomass-based diesel remains the same, whereas net exports of fuel ethanol experience a decrease.

US expands as world’s leading ethane exporter

US exports of ethane have increased from nearly nothing in 2013 to an average of 260,000 barrels per day through the first 10 months of 2018, accounting for about one-sixth of US hydrocarbon gas liquids exports. The US became the world’s top exporter of ethane in 2015, surpassing Norway. US production of ethane increased along with development of US natural gas shale resources.

EIA: US refiners and ocean vessels to change due to sulphur restrictions

EIA published that the implementation of new regulations on marine fuel will affect crude oil and petroleum product markets the following decade. The Administration focuses mainly on the long-term implications of the market changes that will involve changes to ships, marine fuels, refining, and some infrastructure in the next six to eight years.

US energy-related CO2 emissions to decrease in 2019-2020

EIA recently published a ‘Short-Term Energy Outlook’, according to which energy-related CO2 emissions rose by 2.8% in 2018 but are expected to decrease in 2019 and 2020. Yet, 2018 is the largest energy related CO2 emissions since 2010. Despite the fact that emissions from petroleum, that commonly account for the majority of total CO2, emissions from natural gas on the other hand rose by 10%, driving the overall increase in 2018.

EIA expects continued growth in use of renewable resources

The US Energy Information Administration released its Annual Energy Outlook 2019, including a Reference case and six side cases, examining the robustness of key assumptions. The AEO2019 Reference case expects significant continued development of US shale and tight oil and natural gas resources, along with continued growth in use of renewable resources.

Poll

The sulphur cap is less than a year away and with most vessels choosing compliant fuel, do you expect to see a spike in incidents and accidents related to the switch over?

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