Eia News

Imports of fuel oil bound for the U.S. Gulf Coast fell to a five-year low last month as refiners ran more cheap, heavy Canadian crude and geopolitical tensions in the Middle East pressured fuel oil flows.Fuel oil deliveries to the Gulf Coast dwindled in February to just 318,000 barrels per day (bpd), a 20% drop from the prior month and marking their lowest level since February 2019, data from tanker tracking firm, Kpler showed.Heavy fuel oil feedstocks like high sulfur fuel oil…

The U.S. regained its crown as the world's largest exporter of liquefied natural gas (LNG) in the first six months of this year, according to the U.S. Energy Information Agency (EIA).US exports of the superchilled gas, particularly to Europe, have jumped in the last year as buyers looked for alternatives to Russian gas imports and to fill Europe's storage inventories, the EIA said.An average 11.6 billion cubic feet per day (bcf/d) of the superchilled gas was exported through June, up 4% from the same period a year-earlier, the U.S. Department of Energy (DOE) said.The increase in U.S.

“By agreeing to an additional voluntary production cut within OPEC (Organization of the Petroleum Exporting Countries) of 500,000 barrels per day in May and announcing a further independent production cut of 1,000,000 barrels per day in July, Saudi Arabia is aiming to reduce excess supply and support prices,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.According to the EIA (U.S. Energy Information Administration), Saudi Arabian oil production fell to 9.9 mbpd (million barrels per day) in May…

“Second-hand crude tanker values for five-year-old ships hit bottom levels in late 2020 and have since increased by an average 67%. Over the past twelve eventful months values have risen by 34%, reaching their highest level in 25 years,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.Crude tanker values saw their most recent low in December 2020 when Clarksons Research estimated the combined value of a five-year-old Aframax, Suezmax, and VLCC was USD 138.5 mill. Twelve months ago, that valuation had risen to USD 172.0 mill. (+25%).

It will take a team effort that spans sectors and even industries to meet the United States’ goal of 30 GW of offshore wind by 2030, writes Greg Lennon, ABS Vice President, Global Offshore Wind.As the United States offshore wind (OSW) industry considers the Biden-Harris Administration’s 30 gigawatts (GW) by 2030 goal, it’s easy to be struck by the monumental scope of the task ahead. From constructing enough installations before the aggressive deadline to the myriad support vessels needed to achieve these goals…

U.S. oil companies are working around a century-old shipping law to supply fuel to the U.S. East Coast, according to data from Refinitiv and oil trading sources, as high demand for gasoline and global disruptions in fuel markets sent prices higher.Traders are increasingly sending unfinished gasoline components from the Gulf Coast to Buckeye Partners LP’s terminal in the Bahamas, also known as Borco, where they are blended into finished gasoline to be sent to the U.S. East Coast. The uncommon trade is a sign of heavy demand for products up and down the coast, home of some of the nation's largest consumer markets.The trade represents a legal workaround to the Jones Act, which requires goods moved between U.S. ports to be carried by ships built domestically and staffed by U.S.

The United States became the top liquefied natural gas (LNG) exporter in the first half of 2022, the Energy Information Administration (EIA) said, citing data from CEDIGAZ, as the country increased supply to Europe amid the Ukraine crisis.U.S. LNG exports rose 12% to average 11.2 billion cubic feet per day (bcfd) in the first half of the year compared with the second half of 2021, the EIA said. Increased LNG export capacity, higher prices, and demand, particularly from Europe…

U.S. crude shippers are exporting huge amounts of oil to meet strong demand from Europe following Russia's invasion of Ukraine and subsequent sanctions against Moscow. In coming years U.S. oil may find even more buyers overseas, but that could test the capabilities of U.S. export infrastructure.How much crude does the United States typically export?U.S. crude exports averaged 3.7 million barrels per day (bpd) over the four weeks through late May, their highest since March 2020, according to the U.S. Energy Information Administration.

The United States, the world's top natural gas producer, wants to send more liquefied natural gas (LNG) to Europe to help its allies break their dependence on Russian gas after Moscow invaded Ukraine on Feb. 24.But U.S. exports are limited by the country's liquefaction capacity and an ongoing outage at Freeport LNG's plant after the second-biggest U.S. LNG export facility was hit by fire in June.Russia, once Europe's biggest gas supplier, has already cut exports for various reasons this year…

Power plant developers and operators plan to install more than 6 gigawatts of offshore wind capacity at sites mostly along the U.S. eastern seaboard over the next seven years, the U.S.

U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace sanctioned Russian oil.Higher heavy-crude imports are common in summer-driving months, but this year's increase comes as the Biden administration is calling on for refiners to ramp up output and shave profit margins to ease soaring prices. The administration has asked for a parley to explore further efforts.Heavy crudes are cheaper than lighter shale oils produced in the United States and typically make more diesel and less gasoline.

After many false starts, the U.S. offshore wind market is building strong roots for a solid future. But as the market develops from its current northeast and mid-Atlantic niche new opportunities and challenges arise.The U.S. offshore wind market has long been seen as not delivering on its significant potential. With an offshore wind technical potential of more than double that of the country’s total annual electricity sales, the U.S. has long been seen as having the potential to be a major player in the global offshore wind market.

The United States last year became Europe’s largest source of liquefied natural gas (LNG), the U.S. Energy Information Administration (EIA) said on Tuesday.The United States this year became the world's largest LNG exporter by capacity here, exceeding Australia and Qatar, because of its development of new LNG processing plants and ample natural gas from shale reservoirs.Of LNG imported by European Union member countries and the United Kingdom last year, 26% came from the United States…

The Signal Group offers an exhaustive overview of the trends in the dry bulk and tanker markets that both defined 2021, and offer a glimpse as to what might be in store for 2022 and beyond. The report is excerpted in short below; to see the full report CLICK HERE.Using Signal Ocean data, give the insight to analyze the trends and changes across the major vessel sizes in the dry and tanker freight market for 2021. This time last year, Signal Group analyzed the effects of the coronavirus pandemic on commercial shipping with a focus on dirty tankers - VLCC…

U.S. crude oil production fell 3.5% in September after Hurricane Ida temporarily halted most crude production in federal waters of the Gulf of Mexico, according to a monthly report from the U.S. Energy Information Administration on Tuesday.Crude output dropped 380,000 barrels per day to 10.809 mln bpd from a revised 11.189 mln bpd in August, the report said. The decline came as production in the offshore Gulf of Mexico fell by 464,000 bpd, offsetting onshore gains.Ida disrupted Gulf of Mexico production as it passed through the Gulf at the end of August.

Among transportation planners, “resilience”, describing the ability to bounce back from adversities, both economic and other, has become a top consideration as we increasingly must “expect the unexpected.” The U.S. waterway system, covering the network of inland rivers and coastwise waterways, has seen a mix of good and not so good. As the 2020-2021 pandemic moves toward winding down, a recovery from the dismal 2020 is underway, but activity on the rivers is uneven. Ken Eriksen…

A cargo of 1.033 million barrels of Iranian crude oil landed on U.S. shores in March, data from the U.S. Energy Information Administration (EIA) showed, the second shipment of Iranian oil to be imported into the United States since 1991.The cargo was registered in EIA data released late last week for the month following the seizure by U.S. authorities of the Liberian-flagged tanker Achilleas, which was transporting Iranian crude.The EIA gave no other details on the Iranian cargo, and the agency could not be reached for comment outside of U.S. office hours. Monday is a holiday in the United States.The United States last recorded Iranian crude and petroleum imports of 3…

“Fill her up, son; unleaded. I need a full tank of gas where I'm headed,” former Police-front man, Sting, sang back in 1999 on his solo album Brand New Day. This country-inspired song could be the anthem for what is coming around next week, as Monday. May 31  is Memorial Day in the U.S., the day that kicks off “the U.S. driving season”. The season runs for about three months from Memorial Day to Labor Day on September 6, during which the Americans take to the road, and demand for motor gasoline reaches a seasonal peak.On 26 May, the U.S.

Longer sailing distances cushion fall in US crude oil exportsTon mile demand generated by US crude oil exports has fallen by 9.7% in the first two months of 2021 compared with the start of 2020. The fall could however have been much worse; In volume terms, seaborne crude oil exports have fallen by 18.8%, to 20.9m tonnes, a 4.8m tonnes decline compared with last year, according to data from the US Census Bureau.While seaborne crude oil exports to all regions have fallen, those to Asia are among the least affected, down just 1.0%, or equivalent to one Aframax load (101,088 tonnes).

U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels, shipping and trade sources say.The global rollout of coronavirus vaccines and the expectation that government-offered stimulus packages will boost the world economy has raised expectations of a recovery in oil consumption. But fuel demand remains sluggish, keeping oil refiners under pressure and looking for ways to limit further losses.The International Energy Agency…

Three ships carrying ethanol were heading to China from the U.S. Gulf Coast, three trade sources told Reuters on Monday, a sign that ethanol exports from the United States to the country are increasing drastically.The shipments may surpass the total amount of U.S. ethanol that China imported last year, a positive development for the U.S. ethanol industry, which has seen decreased demand because of the coronavirus pandemic and the U.S.-China trade war.The ships each have a capacity of around 30…

Despite being the second-largest global market for onshore wind, the United States is today a very minor player in comparison to the European and East Asian offshore wind markets, however, this is about to change.Philip Lewis, Director of Research, World Energy Reports said in an interview with Maritime Reporter TV, that 2021 is expected to be a "step-change" for the U.S. Offshore wind industry.But first, where are we today? Per Lewis, the U.S. currently has only two operational projects for a total of 42MW of installed capacity versus a global offshore installed base of 34…

Tanker shipping was in many ways the odd one out of the shipping sectors in 2020; at the start of the pandemic, the market was strong, only to finish off the year in the doldrums, while the other sectors stayed profitable. Even a demand boost in December only managed to lift earnings slightly, raising the question, what will it take for tankers to return to profitability?In the immediate aftermath of the pandemic being declared, tanker shipping appeared immune, but it too has suffered from lockdowns and travel restrictions.