Venezuela’s oil reserves kick into reverse
Venezuela’s claim of being home to the world’s largest oil reserves based on its massive Orinoco heavy oil belt has been the subject of industry skepticism for years.
Floridaâs Sabal Trail pipeline and associated natural gas pipeline projects begin service
(Mon, 10 Jul 2017) On July 3, the Federal Energy Regulatory Commission (FERC) authorized Phase I of the Sabal Trail pipeline to begin full operation. Sabal Trail is a 515-mile interstate natural gas pipeline transporting natural gas from an interconnection with the Transco pipeline in Tallapoosa County, Alabama, to the Central Florida Hub in Osceola County, Florida.
Energy commodity prices declined more than other commodities in the first half of 2017
(Fri, 07 Jul 2017) The energy component of the Standard and Poorâs Goldman Sachs Commodity Index (GSCI) fell 11% during the first half of 2017, the largest decline for any commodity group in the index. Other components of the index—livestock, industrial metals, precious metals, and agriculture—had end-of-June prices that were higher than at the beginning of the year.
Monthly renewable electricity generation surpasses nuclear for the first time since 1984
(Thu, 06 Jul 2017) In March, and again in April, U.S. monthly electricity generation from utility-scale renewable sources exceeded nuclear generation for the first time since July 1984.
Qatari LNG development to extend LNG surplus into mid-2020s
Qatar’s announcement Tuesday that it will double the size of its proposed new development on the giant North Field to 4 Bcf/d and use the gas for LNG exports will throw off course multiple new LNG projects elsewhere in the world.
Construction costs for most power plant types have fallen in recent years
(Wed, 05 Jul 2017) Based on EIA survey data for new, utility-scale electric generators (those with a capacity greater than one megawatt), capacity-weighted average construction costs for many generator types have fallen in recent years. Annual changes in construction costs include the effects of differences in the geographic distribution of installed capacity between years, differences in technology types, and other changes in capital and financing costs.
Even as renewables increase, fossil fuels continue to dominate U.S. energy mix
(Mon, 03 Jul 2017) Fossil fuels have provided more than 80% of total U.S. energy consumption for more than 100 years. Since 1928, when consumption of natural gas surpassed that of biomass, the three fossil fuels—petroleum, natural gas, and coal—have been the most consumed fuels in the United States.
US coal’s future – not exactly bullish, but hardly bearish
In the US, thermal coal is facing a long-term decline in demand, but don't forget that a significant amount of electricity consumed is still fueled by coal.
Presentations from EIAâs annual energy conference are now available
(Fri, 30 Jun 2017) EIA just held its annual energy conference in Washington, DC on June 26 and 27. More than 900 attendees from business, industry, academia, and government were on hand to discuss a wide range of energy issues.
OPEC: Deeper crude oil output cuts?
OPEC and its associated non-OPEC producers’ decision in May to extend their output cuts through to end-March 2018 has not been met with overwhelming enthusiasm.