Today in Energy
U.S. oil reserves continue rising, surpass 36 billion barrels for first time since 1975
U.S. crude oil and lease condensate proved reserves rose for the fifth consecutive year in 2013, increasing by 9% from the 2012 level to 36.5 billion barrels, according to the U.S. Crude Oil and Natural Gas Proved Reserves, 2013 report released yesterday by the U.S. Energy Information Administration (EIA). U.S. crude oil and lease condensate proved reserves surpassed 36 billion barrels for the first time since 1975.
Tags: crude oil , liquid fuels , oil/petroleum , reserves , states
U.S. natural gas reserves increase 10% in 2013 to reach a record 354 Tcf
U.S. total natural gas proved reserves increased 10% (31 trillion cubic feet (Tcf)) in 2013 and reached a new U.S. record of 354 Tcf, according to newly published data in EIA's U.S. Crude Oil and Natural Gas Proved Reserves, 2013.
Tags: natural gas , reserves , states
Number of natural gas customers participating in customer choice programs is increasing
Note: Data not collected in 2009-11.
Republished December 3, 2014, 10:00 a.m. to correct map note.
Eligibility and participation in customer choice programs, which allow residential and commercial customers to purchase natural gas from nonregulated energy suppliers, have increased over the past 12 years. The number of eligible customers has more than doubled since 2001, and is nearly 10% higher than it was in 2005. Participation in customer choice programs has also more than doubled, increasing from 3.3 million in 2001 to 7 million in 2013. However, it has grown at a slower rate in more recent years, and at the national level, only 18% of residents eligible to participate in consumer choice programs chose to do so in 2013.
Tags: natural gas , states
32% of natural gas pipeline capacity into the Northeast could be bidirectional by 2017
Note: In this context, the Northeast includes the Northeast Census region as well as Delaware, Maryland, Ohio, and West Virginia.
Republished December 2, 2014, 11:00 a.m. to update text.
Spurred by growing natural gas production in Pennsylvania, West Virginia, and Ohio, the natural gas pipeline industry is planning to modify its systems to allow bidirectional flow to move up to 8.3 billion cubic feet per day (Bcf/d) out of the Northeast. As of 2013, the industry had the capacity to transport 25 Bcf/d of natural gas from Canada, the Midwest, and the Southeast into the Northeast. In addition to these bidirectional projects in the Northeast, the industry plans to expand existing systems and build new systems to transport natural gas produced in the Northeast to consuming markets outside the region.
Tags: capacity , natural gas , pipelines
World oil transit chokepoints critical to global energy security
Note: All estimates in million barrels per day. Includes crude oil and petroleum products. Based on 2013 data.
Note: Click to enlarge.
International energy markets depend on reliable transport routes. About 63% (56.5 million barrels per day) of the world's oil production in 2013 moved on maritime routes. World chokepoints for maritime transit of oil are a critical part of global energy security because of the high volume of petroleum and other liquids transported by these routes.
Tags: crude oil , international , liquid fuels , oil/petroleum , transportation
U.S. gasoline prices this Thanksgiving are the lowest since 2009
U.S. retail regular-grade gasoline prices continue to decline, averaging $2.82 per gallon (gal) as of November 24. This average is 47 cents lower than a year ago, and the lowest price heading into a Thanksgiving holiday since 2009. Traditionally, the Thanksgiving holiday is one of the most traveled times of the year in the United States, and much of that travel is by car. AAA estimates that during this Thanksgiving holiday weekend (November 26-30), 41.3 million people in the United States will travel more than 50 miles from home by car. This level of travel, 4.3% higher than the same time last year, is the highest number of travelers by car for Thanksgiving in seven years and the third highest since AAA began publishing the data in 2000.
Shale gas provides largest share of U.S. natural gas production in 2013
Republished November 25, 2014, 10:15 a.m. to clarify graph title.
Total U.S. natural gas gross withdrawals reached a new high at 82 billion cubic feet per day (Bcf/d) in 2013, with shale gas wells becoming the largest source of total natural gas production. Natural gas gross withdrawals are a measure of full well stream production including all natural gas plant liquids and nonhydrocarbon gases after oil, lease condensate, and water have been removed. According to the Natural Gas Annual, gross withdrawals from shale gas wells increased from 5 Bcf/d in 2007 to 33 Bcf/d in 2013, representing 40% of total natural gas production, and surpassing production from nonshale natural gas wells. New technology has enabled producers to shift production to resources that are now easier to reach and have lower drilling costs. These trends have been reflected in a lower market price of natural gas.
Tags: Arkansas , liquid fuels , Louisiana , natural gas , oil/petroleum , Pennsylvania , production , shale , states , Texas
Boston, New York City winter natural gas prices expected to remain high
Note: November through March are considered winter months. Forward prices for 2014-15 and 2015-16 are as of 10/29/2014.
Despite expectations of a milder winter for 2014, marketers anticipate high prices for natural gas in Boston and New York City. Natural gas prices are expected to be lower than last winter, but higher than the average of previous winters, particularly in Boston.
Tags: natural gas , New England , New York , Pennsylvania , pipelines , prices , states
EIA releases new online tool to track crude oil imports
EIA's recently released U.S. Crude Oil Import Tracking Tool, designed to analyze crude oil imports in response to growing domestic production, allows users to sort and display imports by month or year, density (i.e., light, medium, heavy), country of origin, port of entry, processing company, processing refinery, and more. The tool features graphing and mapping capabilities and a built-in help function.
Tags: crude oil , imports , liquid fuels
Oil and currency markets reflect expectations for lower global economic growth
Note: The U.S. dollar index measures the value of the U.S. dollar against a basket of six currencies' exchange rates: the euro, Japanese yen, British pound, Canadian dollar, Swiss franc, and Swedish krona. An increase in the index means the dollar is appreciating against these currencies. March 1973=100. Front month = the near-month contract for Brent crude oil energy futures prices.
Since August, both crude oil and currency markets have been influenced by lower economic growth expectations in countries outside the United States. Prices in both markets recently broke out of established trading ranges, driven by concerns about weaker future global demand. The current situation, with the dollar index and oil prices moving in opposite directions, presents a sharp contrast to one in which crude oil supply disruptions or geopolitical risks would cause both the dollar index and crude prices to rise.
Tags: Brent , crude oil , financial markets , liquid fuels , oil prices , oil/petroleum
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