EIA expects retail gasoline prices to rise over the coming months As of this Memorial Day Weekend, the national average price for regular gasoline is hovering around $2.85 per gallon, just slightly below last year’s average price of $2.92. The EIA forecasts that current prices will reach the $2.92 mark in the coming months, however, as the summer season of
Looks for 25% LNG export growth in 2019 By Richard Rostad, analyst, Oil & Gas 360 The EIA released its monthly Short-Term Energy Outlook (STEO) today, outlining the agency’s forecasts for energy in 2019 and 2020. The EIA has shifted its oil and gas production forecasts, decreasing expected Q1 2019 output. The agency now expects the U.S. had produced 11.91
EIA trims 2019, 2020 estimates but still expects record output Drillers scaling back as focus shifts to shareholder returns From Bloomberg The U.S. government cut its oil production forecast for the first time in six months as drillers scale back in smaller shale plays and the U.S. Gulf of Mexico. While crude output is still expected to reach record levels,
Oil prices above breakeven for three quarters of the year positive for drillers On the whole, 2018 produced good news for U.S. oil and gas companies, at least through the first three quarters of the year. Prices were above breakeven level for the first nine months of 2018, allowing producers to kick drilling plans and capital usage into high gear,
Wind and solar generation are steadily growing in the U.S. According to a new report released by the U.S. Energy Information Administration (EIA), wind and solar electric generation reached or exceeded 20% of total generation in 10 states in 2017. This includes small-scale solar photovoltaics. Source: EIA Facts Summary: Total annual generation (TAG) from wind and solar in the US,
EIA’s most recent issue of Natural Gas Monthly contains extensive revisions to data for 2016, 2017, and year-to-date 2018 because of benchmarking to annual data published in the Natural Gas Annual 2017 (NGA). In July 2018, for the 15th consecutive month, dry natural gas production increased year to year for the same month a year ago. The preliminary level for dry natural
In Texas wind is big: it’s in the top two states for wind power plants Electricity generation from wind in the United States has increased from about 6 billion kilowatthours (kWh) in 2000 to about 254 billion kWh in 2017, according to the EIA. That means wind power in the U.S. increased by a factor of 42 in 17 years.
NatGas combined cycle plants were 40% of proposed total capacity additions The EIA has released its report on utility-scale power plants planned and built in the United States and natural gas continues to lead the way. Power plant developers told EIA they planned to install 25.1 gigawatts (GW) of generating capacity in 2017. Here is how it developed: 7 GW
EIA forecasts 11.8 MMBOPD for total U.S. oil production in 2019 A new IHS Markit outlook released today expects the Permian Basin’s crude oil production to more than double its 2017 record of 2.5 MMb/d to 5.4 MMb/d by 2023. This level of production would elevate the U.S. to a power exporter status that rivals Saudi Arabia, with total U.S.
According to the EIA, March 2018 marked the tenth consecutive month of increased production of dry natural gas. The average daily rate of dry natural gas production in March 2018 was also at an historic high at 79.6 BcF/ day. The average daily rate of dry natural gas production for March was the highest for any month since EIA began
The Arctic National Wildlife Refuge (ANWR) is located on the northern coast of Alaska, due east of both Prudhoe Bay and the National Petroleum Reserve-Alaska (NPRA). The coastal plain (the 1002 Area) covers 1.5 million acres and is about 8% of the total area of ANWR. USGS 1002 Area Map In its latest (1998) resource assessment, the United States Geological
The production cuts may have erased the surplus, but for how long? Stored petroleum around the world fell through 2017 and the first quarter of 2018, ending a period of oversupply in the global market that began before OPEC began production cuts in November 2016, according to data from the EIA. The production cuts took effect in January 2017, reducing
