The US Energy Information Administration (EIA) has recently released a US Crude Oil Import Tracking Tool, designed to analyse crude oil imports in response to growing domestic production. The tool allows users to sort and display imports by month or year, density (i.e. light, medium, heavy), country of origin, port of entry, processing company, processing refinery, and more. It also features graphing and mapping capabilities and a built in help function.
Recent and anticipated increases in domestic crude production have sparked discussion about hoe rising crude oil volumes will be absorbed. To date, increased production has displaced some imported crude oil, which has fallen from 8.9 million bpd in 2011 to 7.5 million bpd in August 2014. EIA’s tool sheds light on the changes to imports in response to growing production of crude oil within the US.
EIA has also released a report containing sample applications of the new tool. The sample applications were selected to illustrate the tool’s capabilities to access information from EIA’s monthly company level import database for different time periods, regions, companies, and crude oil qualities. Selected insights include changes in the following trends:
- Volume and quality of US crude oil imports. US crude oil imports have declined since 2010, with nearly the entire decline occurring in light sweet grades. Through August 2014, US light crude imports have fallen 71% compared to the level in 2010.
- Source of US crude oil imports. Imports of light crude from Africa, particularly from Nigeria and Algeria, have decline by 93% since 2010.
- Light crude imports by region. The largest decline in crude oil imports occurred on the Gulf Coast (PADD 3), which were down 94% since 2010. Light crude oil imports by East Coast (PADD 1) refiners were down 69%, reflecting both their increased use of domestic crudes and modestly lower refinery runs.
- Refinery level trends in light crude imports. Imports by the 10 largest refineries using imported light crude in 2013 accounted for 55% of total US light crude imports, with the remaining 45% distributed among more than 100 other refineries. The largest source for light crude imports among this group of 10 refineries was Canada, followed by Nigeria and Mexico.
- Refinery level trends in imports other than light sweet crude. There is evidence that some refineries have recently reduced imports of medium and heavy grades of crude oil to increasing production of domestic light oil. Other refiners have made changes in processing equipment to accommodate heavier crudes and have increased their imports of heavier crudes.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/refining/24112014/eia-crude-import-tracking-tool-1677/