Natural gas-fired power plants lead electric capacity additions in Mexico
(Wed, 18 Jan 2017) Natural gas is Mexicoâs largest source of electricity generation, accounting for 54% of the countryâs generation in 2015, up from 34% in 2005.
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Notice: Undefined index: und in include() (line 207 of sites/all/themes/Porto_sub/node--feed-item.tpl.php).U.S. ethane production, consumption, and exports expected to increase through 2018
(Tue, 17 Jan 2017) U.S. production of ethane is expected to increase from an average of 1.25 million barrels per day (b/d) in 2016 to 1.7 million b/d in 2018 according to EIAâs latest <em>Short-Term Energy Outlook</em> (STEO). Increased ethane production is expected to be consumed in the petrochemical industry domestically as well as exported to other countries.
Natural gas prices in 2016 were the lowest in nearly 20 years
(Fri, 13 Jan 2017) Natural gas spot prices in 2016 averaged $2.49 per million British thermal units (MMBtu) at the national benchmark Henry Hub, the lowest annual average price since 1999. The monthly average price fell below $2.00/MMBtu from February through May, but later increased, ending the year at an average of $3.58/MMBtu in December.
Crude oil prices expected to increase slightly through 2017 and 2018
(Thu, 12 Jan 2017) The U.S. Energy Information Administrationâs January <em>Short-Term Energy Outlook</em> (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) crude oil prices to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. These prices are expected to rise to $56/b and $55/b, respectively, in 2018.
Will the bears of steel markets bite back in 2017?
Consensus forecasts suggest iron ore delivered into China will average around $55-$60/dry mt this year.
Wholesale power prices in 2016 fell, reflecting lower natural gas prices
(Wed, 11 Jan 2017) Average wholesale electricity prices at major trading hubs across the United States during the first quarter of 2016 were significantly lower than during the same period in 2015, ranging from 24% lower in California to 64% lower in New England.
Renewable generation capacity expected to account for most 2016 capacity additions
(Tue, 10 Jan 2017) Once final data are in, EIA expects 24 gigawatts (GW) of new generating capacity to be added to the power grid during 2016. For the third consecutive year, more than half of these additions are renewable technologies, especially wind and solar.
Coal production declines in 2016, with average coal prices below their 2015 level
(Mon, 09 Jan 2017) U.S. coal production in 2016 is expected to total 743 million short tons (MMst), 17% lower than in 2015, and the lowest level since 1978. Falling production in 2016 continues an eight-year decline from peak production in 2008.
U.S. gasoline prices in 2016 were the lowest since 2004
(Fri, 06 Jan 2017) U.S. regular retail gasoline prices averaged $2.14 per gallon (gal) in 2016, 29 cents/gal (12%) less than in 2015 and the lowest annual average price since 2004. Lower crude oil prices in 2015 were the main cause of lower gasoline prices. In 9 of the 10 cities for which EIA collects weekly retail price data, gasoline prices did not exceed $3.00/gal.
US ports prime themselves for expected uptick in petchem exports
The expected growth in international shipments as a slew of new ethane crackers and associated derivative units start coming online this year has US ports gearing up to nab a piece of the action.