US Energy Information Administration news

The EIA reports that US distillate consumption so far this year is lower than usual because of warm winter weather, reduced manufacturing activity, and continued substitution of biofuels in place of petroleum distillate on the US West Coast (PADD 5).

The US EIA forecasts that US LNG exports will continue to lead growth in US natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025.

The EIA reports that China, the world’s largest importer of crude oil, imported 11.3 million bpd of crude oil in 2023, 10% more than in 2022, according to China customs data.

The EIA reports that US ethane production, consumption, and exports established new record highs in 2023.

Sulfur recovery unit (SRU) processes can be difficult to manage and require significant skill, concentration, and dedication. Analytical gas measurements in the SRU help to ensure reliable, efficient, and safe operations, and help users to manage the SRU process more effectively.

The EIA reports that US crude oil exports established a record in 2023, averaging 4.1 million bpd.

In 2023, the world produced an estimated 101.8 million bpd of petroleum and other liquids: mostly crude oil but also lease condensate, natural gas liquids, biofuels, and other liquids from hydrocarbon sources.

The US Energy Information Administration (EIA) expects the benchmark Henry Hub spot price to average about US$2.25 per million Btu in 2024, a 10% decrease from 2023 and a 65% decrease from 2022.

Spot petroleum product prices at the Chicago trading hub are increasing after an unplanned outage of BP’s refinery in Whiting, Indiana, US, on 1 February 2024.

Developers advanced three LNG projects to the construction phase in 2023, following the signing of sale and purchase agreements (SPA) underpinning the projects.