Today in Energy – US Energy Information Administration (EIA)

Brief analysis

16 August 2024

The developer of Mexico’s first liquefied natural gas (LNG) export facility shipped a first cargo this month. The LNG was transported via the Panama Canal to Mexico’s LNG import terminal in Baja California Sur. Developer New Fortress Energy produced the LNG aboard an offshore floating LNG (FLNG) production vessel with the capacity to liquefy up to 0.199 billion cubic feet per day (Bcf/d) of natural gas – one of two FLNG production units that are part of the Fast LNG Altamira export project on Mexico’s east coast. The project will be supplied with U.S. natural gas delivered via the Sur de Texas-Tuxpan pipeline.

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Brief analysis

15 August 2024

Data source: China National Bureau of Statistics, China General Administration of Customs and Bloomberg LP
Note: We define apparent demand as refinery production plus imports minus exports.

Our estimates for diesel consumption in China totaled 3.9 million barrels per day (b/d) in June 2024, down 11% from the same month last year and the largest year-on-year decline in consumption since July 2021.

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Brief analysis

14 August 2024

Data source: S&P Global Commodity Insights, China National Bureau of Statistics and China Energy Statistical Yearbooks
Note: industry Consumption also includes natural gas as a raw material. Other includes district heating and transport.

In 2023, China consumed 7%, or 2.6 billion cubic feet per day (Bcf/d), more natural gas than in 2022, following a 1.1% decline in 2022 when economic growth was slower, mainly due to China’s Zero-COVID Measures that lead to a reduction in natural gas consumption.

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Brief analysis

13 August 2024

Wind power generation hit a new record in the United States in April, and wind power generation surpassed coal-fired power generation in both March and April, data from our July 2024 study Monthly energy report show.

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Brief analysis

12 August 2024

Data source: Evaluate energy

Global proven crude oil and natural gas reserves of 175 publicly traded global exploration and production (E&P) companies increased by 2.0 billion barrels of oil equivalent (BOE), or about 1%, in 2023, according to the companies’ annual financial reports.

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Brief analysis

8 August 2024

Uranium mining operations in the United States produced more than 82,000 pounds of uranium concentrate in the first quarter of 2024, more than in all of 2023. Domestic uranium mines produced 50,000 pounds of triuran octaxide (U₃O₈), also called uranium concentrate, in 2023, a significant decrease from the 194,000 pounds produced in 2022.

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Detailed analysis

7 August 2024

In our latest Short-term energy outlookWe forecast that U.S. natural gas inventories will reach 3,954 billion cubic feet (Bcf) by the end of October, the largest amount of natural gas in U.S. storage since November 2016. For the remainder of the injection season (through October), we forecast below-average cumulative injection volumes because inventories were relatively well-filled in March and because we expect above-average U.S. natural gas consumption and relatively flat natural gas production this summer.

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Brief analysis

6 August 2024

During the first five months of 2024, U.S. imports of renewable diesel averaged 30,000 barrels per day (b/d), approaching the monthly record set in May 2023. The majority of imports (94%) were destined for the U.S. West Coast, where most of the country’s renewable diesel is consumed. All U.S. imports came from Neste’s plants in Singapore and Rotterdam.

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Brief analysis

5 August 2024

Coal stocks at U.S. power plants totaled 138 million short tons at the end of May, the highest since the first half of 2020, when the impact of the Covid-19 pandemic reduced electricity demand and coal consumption.

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Brief analysis

1 August 2024

Crude oil imports from Canada have become increasingly important for U.S. oil refiners and now account for the majority of U.S. imports. U.S. oil refining capacity was 18.4 million barrels per day (b/d) as of January 1, 2024. In 2023, 60% of U.S. crude oil imports came from Canada, up from 33% in 2013.

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Brief analysis

July 31, 2024

At California’s quarterly joint carbon auction in May 2024, prices for emissions permits fell 11 percent, breaking a recent uptrend amid continued uncertainty about how the state regulator will change the rules for the auctions.

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Detailed analysis

July 30, 2024

According to our annual Refinery capacity reportU.S. atmospheric crude oil distillation capacity, the main measure of refining capacity, totaled 18.4 million barrels per calendar day (b/cd) at the beginning of 2024, up 2% from the beginning of 2023.

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Brief analysis

July 29, 2024

Data source: Bloomberg LP
Note: Average prices based on the daily closing price for 1^st–22^and each month to reflect normal trading operations.

The natural gas futures market is a marketplace where standardized contracts are traded for the future delivery of specified quantities of natural gas. Most natural gas futures contracts are bought and sold on the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE). Futures contracts allow participants to manage their exposure to market volatility by locking in a price today for a future purchase or sale of a physical commodity.

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Brief analysis

July 25, 2024

• On July 9, 2024, U.S. power plant operators in the continental United States generated 6.9 million megawatt-hours (MWh) of electricity from natural gas daily, likely the highest amount ever in history and certainly since at least January 1, 2019, when we began collecting hourly natural gas generation data.
• The sharp increase in natural gas generation on July 9 was due to both high temperatures in most parts of the country and a sharp decline in wind generation.
• According to the National Weather Service, temperatures were well above average in most parts of the United States on July 9, 2024. Temperatures were particularly high on the west and east coasts.
• Wind energy generation in the lower 48 states totaled 0.3 million MWh on July 9, 2024, well below the daily average of 1.3 million MWh in June 2024.

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Brief analysis

July 24, 2024

Injections into natural gas storage facilities in the 48 southern states totaled 950 billion cubic feet (Bcf) since April 1, according to our Weekly report on natural gas storageSo far, the amount of natural gas injected into storage facilities during the current injection season (1 April – 31 October) (minus withdrawals) is 15% (166 Bcf) below the previous five-year average (2019-2023) for the same period and 15% (172 Bcf) below the same amount in the previous year.

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