Total U.S. Crude Oil Imports Decline 4% from 2010 According to the EIA, U.S. imports of crude oil from OPEC nations have been consistently decreasing since 2013. On the other hand, non-OPEC imports have been consistently increasing, driven primarily by Canadian flows. Total imports per day in 2016 currently stand roughly even with 2010 levels at 7,151 Mboe/d, a 4%
Every day in 2015, the United States spent $991 million on petroleum consumption, the lowest daily total since 2008. Consumption levels in the U.S. have decreased slightly to 19.72 MMBoepd since peaking in 2007 at 20.94 MMBoepd. To determine spending levels, the overall oil consumption in the U.S. was multiplied by the SEC standard oil price for that year. The
Data includes estimates of yet to be discovered resources The U.S. has taken a new place atop the list of countries with the largest recoverable oil resource potential in the world. This places the U.S. ahead of Russia and Saudi Arabia. For the U.S., more than 50% of the remaining oil reserves are located in unconventional shale plays. Texas alone
Rex Energy Announces Re-Affirmed Borrowing Base of $190 Million
Amended Bank Agreement Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), is pleased to announce that on 29 June 2016 it entered into an amendment to the existing bank agreement with the Commonwealth Bank of Australia (“CBA”). New Amendment to Existing Bank Agreement As previously reported, since December 2015, the Company has been involved
Southwestern Energy Rearranges And Extends Bank Credit Facilities
Domestic U.S. energy production of 89 quadrillion Btu accounted for 80% of U.S. energy supply: EIA U.S. energy production totaled 89 quadrillion Btu in 2015, according to the latest information from the EIA. Domestic production increased 2 quadrillion Btu, or roughly 2%, year-over-year. The majority of that production – 80% — came from fossil fuels, according to the agency. Gross withdrawals
Bullish or bearish? The chart above shows the total amount of money since August 2, 2011 that has been invested in the Dow Jones Industrial Average (DJIA) – the index – by institutional investors and retail investors via various forms of investment vehicles. In total more than $56 billion has been invested in the DJIA since Aug. 2011. This could
Bank Downgrades Global Growth for 2016 – Commodity Exporters are Expected to Grow 5.4% Less than Importers The World Bank released its economic growth outlook for 2016 Tuesday, reducing its expectations from earlier this year. The bank anticipates global economic growth of 2.4%, down from 2.9% in January. 40% of that downward revision is due to commodity-exporting emerging markets
NEW YORK, June 8, 2016 /PRNewswire/ — Crestview Partners, a New York based private equity firm, announced an investment in a newly-formed company, W Energy Partners (“W Energy” or the “Company”). Crestview Partners III, L.P. and its affiliated funds, will invest up to $150 million in W Energy to capitalize the business and fund the acquisition and development of high quality exploration and production (“E&P”) assets in
Natural gas prices up again today on bullish storage data Natural gas prices rose to a five-month high today as information from the Department of Energy showed natural gas markets are tightening. Economist were expecting a build of 83 Bcf of natural gas this week. The actual numbers came in slightly lower at 82 Bcf. While storage levels remain well
Electrical generation from natural gas fired plants increased 19% in 2015 due to lower natural gas prices and increased legislation on carbon emissions. Coal and natural gas are now neck and neck in electrical generation capacity with EIA projecting natural gas to surmount coal as the top source of electricity. Natural gas-fired generation is expected to continue growth over the
