Brent crude oil prices averaged US$19/bbl less in 2023 than 2022
The EIA reports that the price of Brent crude oil averaged US$83/bbl in 2023, down from US$101/bbl in 2022.
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The EIA reports that the price of Brent crude oil averaged US$83/bbl in 2023, down from US$101/bbl in 2022.
As Europe heads into its first winter after banning petroleum product imports from Russia, diesel imports from alternative trade partners look likely, reports the EIA.
Japanese refiner, ENEOS, permanently closed a 120 000 bpd refinery in western Japan in mid-October, and Idemitsu Kosan plans to close a 120 000 bpd refinery in March 2024.
The EIA reports that on 20 November 2023, the regular gasoline retail price averaged US$3.29/gal across the US, 10% less than the same time in 2022.
The US Energy Information Administration (EIA) expects North America’s LNG export capacity to more than double through 2027.
The US Energy Information Administration (EIA) expects global liquid fuels production to increase by 1 million bpd in 2024.
The EIA reports that natural gas pipeline capacity is being developed for new US LNG export terminals.
On 23 October 2023, the US District Court of Delaware initiated a process that will see the sale of three refineries owned by Citgo parent company, PDV Holdings, the US subsidiary of Venezuelan state-owned oil company, Petróleos de Venezuela SA (PdVSA).
Over the next five years, the EIA predicts North America’s LNG export capacity will expand.
The US Energy Information Administration (EIA) reports that associated natural gas production increased 9% in 2022 due to higher crude oil production.
Low gasoline demand and the switch to winter-grade gasoline pushed the spread between gasoline blendstock and crude oil prices to multiyear lows in early October 2023.
The US Energy Information Administration (EIA) projects that global energy consumption and associated carbon dioxide emissions will increase through 2050.