From Bloomberg First time Asian nation didn’t import from U.S. since 2016: refiners still worried about U.S. crude import tariff Even though Beijing hasn’t sanctioned American oil imports yet, Chinese buyers aren’t taking any chances. The world’s second largest economy halted purchases of U.S. crude in August for the first time since September 2016, according to U.S. Census Bureau data released Friday.
On track to become world’s largest LNG user – surpassing Japan From: Xinhua BEIJING, Sept. 23 (Xinhua) — China imported 4.71 million tonnes of liquefied natural gas (LNG) in August, up 51.5 percent year on year, the country’s customs authority said Sunday. Total LNG imports in the first eight months reached 32.63 million tonnes, up 47.8 percent year on year,
Egypt is the largest non-OPEC oil producer in Africa and the third-largest dry natural gas producer on the continent, according to the EIA’s newest report on Egypt. In recent years, the country has seen political instability accompanied by growing power demand and a recovering energy industry. Natural gas supply shortages often cause frequent blackouts in Egypt – and 2011’s political
The Arctic National Wildlife Refuge (ANWR) is located on the northern coast of Alaska, due east of both Prudhoe Bay and the National Petroleum Reserve-Alaska (NPRA). The coastal plain (the 1002 Area) covers 1.5 million acres and is about 8% of the total area of ANWR. In its latest (1998) resource assessment, the United States Geological Survey (USGS) estimated that
The production cuts may have erased the surplus, but for how long? Stored petroleum around the world fell through 2017 and the first quarter of 2018, ending a period of oversupply in the global market that began before OPEC began production cuts in November 2016, according to data from the EIA. The production cuts took effect in January 2017, reducing
Stiff U.S. competition, an inter-province pipeline row prolongs limited export opportunity, and U.S. is its only big export customer With U.S. shale on a tear, imports are dropping Total U.S. crude production reached 10 MMBOPD in November 2017 and the Canadian Industrial Outlook report from The Conference Board of Canada estimates that U.S. production will pass 11 MMBOPD in
U.S. continues to import less while exporting more Total net energy imports to the United States fell to 7.3 quadrillion BTUs (quads) in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and gross exports were much lower, the EIA said today in a new report. Gross energy imports have been generally decreasing
U.S. crude oil exports grew to an average of 1.1 MMBOPD in 2017, the EIA said, which is the second full year since restrictions on crude oil exports were removed. Crude oil exports in 2017 were nearly double the level of exports in 2016. Increased U.S. crude oil exports were supported by increasing U.S. crude oil production and expanded infrastructure, the
Venezuela’s citizens are left holding a bag, one that is saddled with $60 billion dollars worth of debt. Citizens of Venezuela have been buying into bonds due to government policies of subsidizing the purchase of foreign debt by individual investors, Reuters reported in December 2017. Big businesses in the country have also poured money into the bonds, hoping to capitalize
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
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
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