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The latest news on Energy from the US Energy information administration
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South Korea, the world’s leading importer of condensates, has sought alternatives to partially offset declines in imports of Iranian condensates during the past few months, particularly in light of U.S. sanctions on Iranian exports of crude oil and condensate. South Korea purchased close to half a million barrels per day (b/d) of condensates in 2017, accounting for more than 25% of global condensate trade. In the first seven months of 2018, 38% of South Korea’s condensate imports came from Iran. South Korea ceased importing Iranian condensates in August. Subsequently, the United States granted South Korea an exemption to import about 200,000 b/d of condensates from Iran for 180 days.
Posted: December 13, 2018, 1:00 pm
During the week ending November 30, 2018, the United States exported more crude oil and petroleum products than it imported for the first time in weekly data going back to 1991. From November 24–30, the United States exported an estimated record 3.2 million barrels per day (b/d) of crude oil as well as an estimated 5.8 million b/d of petroleum products such as distillate fuel oil, motor gasoline, and propane.
Posted: December 12, 2018, 1:00 pm
Annual U.S. electric power industry emissions of sulfur dioxide (SO2) and nitrogen oxides (NOx) have declined by 88% and 76%, respectively, between their peaks in 1997 and 2017. During this period, coal-fired generation was responsible for 90% of SO2 emissions and 76% of NOx emissions from the U.S. electric power industry. Among other factors, declining coal-fired generation and implementation of environmental regulations under the Clean Air Act Amendments (CAAA) of 1990 have both contributed to the decrease in electric power industry SO2 and NOx emissions.
Posted: December 11, 2018, 1:00 pm
EIA projects that U.S. liquefied natural gas (LNG) export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world behind Australia and Qatar. Currently, U.S. LNG export capacity stands at 3.6 Bcf/d, and it is expected to end the year at 4.9 Bcf/d as two new liquefaction units (called trains) become operational.
Posted: December 10, 2018, 1:00 pm
On November 23, the natural gas spot price at the Henry Hub in Louisiana was $4.70 per million British thermal units (MMBtu), the highest price since a temporary spike in January 2018, and before that, the highest price since June 2014. The relatively sudden increase in prices exceeded the expectation of many market participants, based on the prices and volatility of futures and options contracts at the beginning of November. Prices have come down slightly in the past week, but they remain at a higher level than during much of the past four years.
Posted: December 7, 2018, 1:00 pm
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