Tag Archives: Crude

Nigeria: At Least N11.56 Trillion Excess Crude Fund Unaccounted for in Eight Years

By Joshua Olufemi and Richard Akinwumi At least N11.55 trillion or $ 84.52 billion expected revenue into the coffers of the nation’s Excess Crude Account for the eight-year period from 2007 to 2014 are unaccounted for, according to findings by PREMIUM TIMES based on now available data from multiple government agencies not made public until […]

Last Monday’s large percentage decline in crude oil prices was relatively rare

July 13, 2015 Source: U.S. Energy Information Administration, Thomson Reuters Note: Chart represents the number of times a daily percent change occurred in West Texas Intermediate (WTI) crude oil prices since January 2, 2006. The front-month futures price for crude oil benchmark West Texas Intermediate (WTI) declined 7.7% on Monday, July 6, the largest single-day […]

Nigeria: Presidency Says Bailout to States Drawn From NLNG Dividends – Says Excess Crude Fund Intact

Photo: President Muhammadu Buhari in his office. By Bassey Udo A part of the presidential palliative approved on Monday as intervention package to help bankrupt states pay outstanding workers’ salaries came from the $ 2.1 billion dividend paid to the Federation Account by the Nigeria Liquefied Natural Gas Company (NLNG). At the end of the […]

Under sanctions, Iran’s crude oil exports have nearly halved in three years

June 24, 2015 Source: U.S. Energy Information Administration, based on Lloyd’s List Intelligence, Global Trade Information Services, Eurostat, and trade press Note: Values may not add to the total because of independent rounding. Note: OECD is the Organization for Economic Cooperation and Development. In early April this year, Iran and the five permanent members of […]

U.S. crude oil production growth helps reduce Gulf Coast imports

June 22, 2015 Source: U.S. Energy Information Administration, In recent years, higher domestic production of light, tight crude oil has regions. One of the key characteristics of crude oil is its density, measured by . Less-dense liquids have higher API gravities. Crude oils with API gravities of 35 or above are considered light; 27 to […]

Crude by rail provides the West Coast with supply as regional crude oil production falls

June 9, 2015 Source: U.S. Energy Information Administration, Petroleum Supply MonthlyNote: 2015 reflects the average of January-March 2015. While total U.S. crude oil production increased by nearly 3.2 million barrels per day (b/d) from 2010 to 2014, production in the West Coast region (PADD 5) decreased by 0.1 million b/d, continuing a long-term decline. With […]

New data series show more detail for crude oil stocks, storage by region

June 8, 2015 Source: U.S. Energy Information Administration, Note: PADD is Petroleum Administration for Defense District. In an effort to better present crude oil storage capacity and use across the United States, EIA has prepared new tables as part of the semiannual . The new series show crude oil stocks held at refineries crude oil […]

Crude oil adjustment balances independently developed supply and disposition components

June 2, 2015 Source: U.S. Energy Information Administration, The crude oil adjustment is perhaps the most frequently misunderstood component of the U.S. crude oil balance published in EIA’s (WPSR). This adjustment reflects the combined uncertainty around each of the crude oil data elements that EIA uses to assess the balance between U.S. crude oil supply […]

Increases in U.S. crude oil production are predominantly light, sweet crude

June 4, 2015 Source: U.S. Energy Information Administration, U.S. crude oil production has grown rapidly in recent years, primarily from light, sweet crude () from tight resource formations. Roughly 90% of the nearly 3.0 million barrel per day (b/d) growth in production from 2011 to 2014 consisted of light, sweet grades, meaning they have an […]

Low crude oil prices, increased gasoline demand lead to high refiner margins

May 20, 2015 Source: U.S. Energy Information Administration, from Bloomberg, L.P., Thomson ReutersNote: Dubai/Oman crude oil spot price is the average spot price of Dubai crude oil and Oman crude oil. Gasoline in the United States, especially on the U.S. East Coast, have reached several-year highs in recent months. Crack spreads, which reflect the difference […]

Implications of higher domestic crude production for U.S. refining

May 7, 2015 Source: U.S. Energy Information Administration, based on Turner, Mason & Company In response to multiple requests over the past years, EIA is developing a series of analyses that address the implications of current limitations on crude oil exports for prices, including both world and domestic crude oil and petroleum product prices, and […]

Crude by rail accounts for more than half of East Coast refinery supply in February

May 5, 2015 Source: U.S. Energy Information Administration, Note: All sources are net receipts except field production. PADD is Petroleum Administration for Defense District. Monthly rail receipts of crude oil accounted for more than half (52%) of the crude oil supply to East Coast refineries in February. As U.S. and Canadian production of crude oil […]

Increasing domestic production of crude oil reduces net petroleum imports

April 21, 2015 Source: U.S. Energy Information Administration, )Note: Product supplied is used as a proxy for consumption. In its recently released (AEO2015) Reference case, EIA expects U.S. crude oil production to rise through 2020 as oil prices recover from their steep decline, reducing net petroleum (crude oil and petroleum products) imports. AEO 2015 explores […]

New EIA monthly data tracks crude oil movements by rail

March 31, 2015 Source: U.S. Energy Information Administration based on data from the Surface Transportation Board and other informationNote: Crude-by-rail movements greater than 1,000 barrels per day are represented on the map; short-distance movements between rail yards within a region are excluded. PADD denotes Petroleum Administration for Defense District. For the first time, EIA is […]

Not Ready to Buy or Sell Your Equipment?

Join our international network of oilfield buyers & sellers! 
We respect your privacy as well as your time and that's why we only send our newsletter no more than TWICE A MONTH.
 
ADD ME TO THE LIST
Two emails per month (maximum). No ads. No affiliate links.