In the past three years, the U.S. has exported more energy products to Mexico than it imports. That’s a reversal from just a few years ago. Historically, energy trading between Mexico and the U.S. was characterized by Mexican sales of crude oil to the U.S. and American sales of refined petroleum products to Mexico. Through 2014, the EIA said, Mexico’s
The Federal Reserve Bank of Dallas is populated with smart people who track the comings and goings of all the factors affecting the energy industry, not just in Texas but globally. Dallas Fed SVP and Research Advisor Mine Yücel discussed oil prices and global supply conditions and economic effects of price shocks in a presentation at the EnerCom Dallas investment
Recent U.S. legislation has directed the sale of more than 100 million barrels of oil from the Strategic Petroleum Reserve (SPR) in government fiscal years 2022 through 2027. Based on legislated sales established in multiple acts of Congress, the SPR could decline by about 40% in the coming decade while still meeting requirements for petroleum import coverage, the EIA said.
In 2017 China surpassed South Korea to become the world’s second-largest importer of LNG, according to data from IHS Markit and official Chinese government statistics, the EIA said. Driven by government policies designed to reduce air pollution, LNG imports increased by 1.6 Bcf/d in 2017, with monthly imports reaching 7.8 Bcf/d in December 2017. China has been striving to transition
Noble Energy, Inc. (ticker: NBL) has signed agreements to sell significant quantities of natural gas from the Leviathan and Tamar fields to Dolphinus Holdings Limited to supply gas in Egypt. These agreements, one for natural gas from Leviathan and one for Tamar, each provide for total contract quantities of 1.15 trillion cubic feet of natural gas. The natural gas is
From Reuters NUSA DUA, Indonesia/SINGAPORE (Reuters) – Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade flows in Eikon show global liquefied natural gas (LNG) imports have
The United States will become a net energy exporter in 2022, according to the newly released Annual Energy Outlook 2018 (AEO2018) Reference case from the EIA. The cause? EIA says changes in the petroleum and natural gas market are driving potential exports upward. The transition from net energy importer to net energy exporter occurs even earlier in some sensitivity cases
Cheniere Energy, Inc. (ticker: LNG) has entered into two LNG sale and purchase agreements (SPA) with China National Petroleum Corporation (CNPC). Under the SPAs with Cheniere’s subsidiaries, Corpus Christi Liquefaction, LLC and Cheniere Marketing International LLP, CNPC subsidiary PetroChina International Company Limited will purchase approximately 1.2 million tons per annum of LNG, with a portion of the supply beginning in
First U.S. east coast export facility is expected to enter commercial service in early March Dominion Energy Cove Point (DECP, ticker: D) has begun producing liquefied natural gas. The company’s newly constructed natural gas liquefaction facility is undergoing commissioning in Lusby, MD. When commissioning is complete, DECP will produce LNG for its customer joint venture ST Cove Point, a JV
Hurricane Harvey disrupted U.S. Gulf Coast refining operations from late August to September in 2017, and pausing operations led to record-high U.S. crude oil exports when facilities reopened after the storm, the EIA reported today. In October 2017, crude oil exports from the United States reached a monthly record of more than 1.7 MMBOPD. The EIA’s Petroleum Supply Monthly data
The Nord Stream Pipeline delivered 51 billion cubic meters (Bcm) of natural gas to consumers in the European Union in 2017. This means that the pipeline system operated at 93% of its annual design capacity of 55 Bcm. This is the highest utilization since the start of operation of the Nord Stream Pipeline System, the company said in a statement.
Cheniere Energy, Inc. (ticker: LNG) and its subsidiary Cheniere Marketing, LLC have entered into a LNG sale and purchase agreement (SPA) with Trafigura Pte Ltd., a Geneva-based independent trader of oil and petroleum products. Trafigura’s LNG team is based in Houston, Geneva and Singapore. Trafigura has agreed to purchase approximately 1 million tons per annum of LNG from Cheniere Marketing
