US DoE funds projects to advance biofuels and biobased products

The US Department of Energy announced up to $3 million in funding for advanced biofuels, bioenergy and biobased products, under its Biomass Research and Development Initiative co-organized with the DoA. Two projects from the University of Tennessee and Northwestern University were selected to receive $1 to $2 million each.

US refiners ready to welcome low-sulphur fuels

With the IMO regulations coming in 2020 about the sulphur cap, US refiners are preparing for the shift in the ship fuel supply. That change will increase demand for low sulphur fuels, and US refiners are ready to capture about 3m bbl/day global marine fuel market. Namely, across many US refiner’s earnings, distillate yields will be increased.

Oil prices decrease as US production increases

Oil prices decreased on Thursday 3 of May, as a rise in US crude inventories and a record weekly US production was reported, This increase is opposing to the efforts made by OPEC to decrease supplies and tighten the market. The prices were reduced after a report by EIA, which showed that US crude inventories increase by 6.2 million barrels to 435.96 million barrels.

US announces funding to optimize fuels and engines

The US Energy Department’s Vehicle Technologies Office released a multi-topic funding opportunity announcement (FOA). The funding, which will be $12 million, regards the Co-Optimization of Fuels and Engines. The funding will have two topics: Multi-Mode Optimized Fuel/Engine System Development; Bioblendstocks to Optimize Mixing Controlled Compression Ignition Engines.

US port restrictions raise crude oil exports costs

US crude oil exports averaged 1.1 million barrels per day in 2017, an increase of 527,000 b/d from 2016. Despite this acceleration in export growth, the US.Gulf Coast ports cannot fully load Very Large Crude Carriers. Instead, export growth was achieved by using smaller and less cost-effective ships. The Louisiana Offshore Oil Port is the only U.S. facility capable of accommodating a fully loaded VLCC.

Watch: Panama Canal welcomes first LNG shipment from Dominion

The Panama Canal welcomed the first transit of the LNG Sakura as it conducted the first-ever LNG shipment from the Dominion Cove Point terminal in the US to Japan. The transit took place last weekend, and marks the beginning of a new LNG commercial route between the US and Asia from Dominion Cove Point terminal.

US biomass-based diesel imports reduced in 2017

US imports of biomass-based diesel, including biodiesel and renewable diesel, totaled 14.1 million barrels in 2017, a 36% decrease from 2016. Despite the fact that increasing Renewable Fuel Standard targets have increased biomass-based diesel demand in recent years, imports fell in 2017 because of US import duties on foreign biodiesel volumes.

US to achieve record 2018 crude oil production

Annual average US crude oil production reached 9.3 million barrels per day in 2017. EIA projects that U.S. crude oil production will continue to grow in 2018 and 2019, averaging 10.7 million b/d and 11.3 million b/d, respectively. U.S. crude oil production has increased significantly over the past 10 years, mainly because of production from tight rock formations using horizontal drilling and hydraulic fracturing. 

US energy imports in 2017 the lowest since 1982

Total net energy imports to the US fell to 7.3 quadrillion British thermal units in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and gross exports were much lower, according to EIA. The larger factor leading to the reduction in the net energy trade balance has been increasing energy exports.

US quadrupled its LNG exports in 2017

US exports of LNG reached 1.94 billion cubic feet per day in 2017, up from 0.5 Bcf/d in 2016. As LNG exports increased, shipments went to more destinations. US LNG exports in 2017 were all from Louisiana’s Sabine Pass terminal and they were mainly shipped to Mexico; South Korea; and China.

maritime events