Tag: EIA

From January through June 2018, net natural gas exports from the United States averaged 0.87 Bcf/d, more than double the average daily net exports during all of 2017 (0.34 Bcf/d), according to EIA. US has continued to export more natural gas than it imports for five of the first six months in 2018.

Crude oil surpassed hydrocarbon gas liquids (HGL), becoming the largest US petroleum export with 1.8 million barrels per day (b/d) of exports in the first half of 2018, according to EIA. US crude oil exports increased by 787,000 b/d, or almost 80%, from the first half of 2017 to the first half of 2018.

OPEC received about $567 billion in net oil export revenues in 2017, an increase of 29% from revenues in 2016. Increases in both crude oil prices and in net OPEC oil exports increased revenues in 2017, and EIA expects that revenues will continue to increase in 2018, according to EIA’s August Short-Term Energy Outlook.

The US likely surpassed Russia and Saudi Arabia, becoming the world’s largest crude oil producer earlier this year, based on preliminary estimates by EIA’s Short-Term Energy Outlook. US crude oil production, particularly from light sweet crude oil grades, has rapidly increased since 2011.

Dry natural gas production in the US is forecast to average 81.0 billion cubic feet per day Bcf/d in 2018, up by 7.4 Bcf/d from 2017 and establishing a new record high, according to EIA's short-term energy outlook, which foresees natural gas production will continue to rise in 2019 to an average of 84.7 Bcf/d. 

After spending more than three decades slaughtering whales in defiance of an international moratorium on commercial whaling, Japan is proposing a package of measures at an International Whaling Commission meeting next month that would effectively lift the global ban on for-profit whaling.

India’s economic growth is possible to impact future international energy markets because of the country’s large population and potential for development. India is expected to be one of the fastest-growing economies in the world over the next 30 years, but how that growth will take place remains unknown.

In its International Energy Outlook for 2018, EIA forecasts that Africa's manufacturing sector and industrial energy consumption will increase because of possible regional competitive advantages. However, Africa’s energy consumption per capita lags behind the other two regions that the report examines: China and India. 

EIA released three reports in its International Energy Outlook 2018 discussing the energy implications of potential changes in China, India and Africa. Regarding China, its economy remains by far the world’s largest producer of energy-intensive goods in 2040. Faster economic growth in China also leads to higher energy consumption.

In its recently-published International Energy Outlook for 2018, EIA forecasts that India's energy consumption is projected to grow faster than the rest of the world through 2040, along with China's and Africa's. However, Indian consumption levels do not reach those in China or the US in the next two decades.