International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operators, refiners, and global oil markets. Stakeholders will respond to these regulations in different ways, increasing uncertainty for crude oil…
Month: December 2018
South Korea stopped importing condensate from Iran before receiving sanctions waivers
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…
For one week in November, the U.S. was a net exporter of crude oil and petroleum products
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…
Changes in coal sector led to less SO2 and NOx emissions from electric power industry
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…
U.S. liquefied natural gas export capacity to more than double by the end of 2019
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…
November U.S. natural gas prices increased beyond previous market expectations
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…
EPA finalizes Renewable Fuel Standard for 2019, reflecting cellulosic biofuel shortfalls
On November 30, 2018, the U.S. Environmental Protection Agency (EPA) issued a final rule for the 2019 Renewable Fuel Standard (RFS) program, with the total U.S. renewable fuel volume requirement set 3% higher than the 2018 mandate, but nearly 30%…
U.S. coal consumption in 2018 expected to be the lowest in 39 years
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U.S. coal consumption has been falling since its peak in 2007, and EIA…
Pipeline constraints, refinery maintenance push Western Canadian crude oil prices lower
Planned maintenance at several large refineries in the Midwest has decreased the volume of crude oil processed in the region, which has resulted in lower prices of Western Canadian Select (WCS), a crude oil typically processed in the Midwest. WCS…
