(Mon, 09 Apr 2018) Iran holds the worldâs fourth-largest proved crude oil reserves and the worldâs second-largest natural gas reserves. Since the lifting of sanctions that targeted Iranâs oil sector, oil production has reached more than 3.8 million barrels per day in 2017. Iranâs natural gas activities are centered on the South Pars natural gas field, located offshore in the Persian Gulf, which holds roughly 40% of Iranâs proved natural gas reserves.
(Fri, 06 Apr 2018) While most fossil fuels in the United States are burned, or combusted, to produce heat and power, EIA estimates that the equivalent of about 5.5 quadrillion British thermal units of fossil fuels were consumed for non-combustion purposes in the United States in 2017. Over the past decade, non-combustion consumption of fossil fuels has typically accounted for about 7% of total fossil fuel consumption and about 6% of total energy consumption in the United States.
(Thu, 05 Apr 2018) Interruptions in electricity service vary by frequency and duration across the many electric distribution systems that serve about 145 million customers in the United States. In 2016, customers experienced an average of 1.3 interruptions and went without power for four hours during the year.
(Wed, 04 Apr 2018) Annual average U.S. crude oil production reached 9.3 million barrels per day (b/d) in 2017, an increase of 464,000 b/d from 2016 levels after declining by 551,000 b/d in 2016. In November 2017, monthly U.S. crude oil production reached 10.07 million b/d, the highest monthly level of crude oil production in U.S. history.
(Tue, 03 Apr 2018) U.S. retail electricity sales fell by 80 billion kilowatthours (kWh) in 2017, the largest drop since the economic recession in 2009. The 2% decrease in 2017 reflects lower retail sales in the residential, commercial, and industrial sectors and is largely attributable to milder weather
US E&P companies needing cash for drilling are likely to hear good news from banks currently preparing to size up borrowing profiles, as upstream activity continues to tick higher.
In about 20 months, the shipping industry is going to start burning a fuel that today they know next to nothing about.
(Mon, 02 Apr 2018) Over the past four years, relatively little new underground natural gas storage capacity was built in the Lower 48 states. EIA measures natural gas storage capacity in two ways: design capacity and demonstrated maximum working gas volume (or demonstrated peak). In 2017, design capacity grew by about 1%, and demonstrated peak fell by 1%
(Fri, 30 Mar 2018) EIA projects U.S. coal dispositionâdomestic demand and coal exportsâto remain relatively flat through 2050 in the <em>Annual Energy Outlook 2018</em> (AEO2018) Reference case, even as many coal-fired power plants are retired. Coal disposition for the next three decades averages 750 million short tons per year (MMst), down from the peak of nearly 1.2 million tons in 2008.
The recent winter of 2017/18 has been particularly volatile, with the physical JKM spot LNG assessment not only charting the longest rally since its inception in 2009 but also briefly returning to double-digit levels not seen in three years.
