Eia

The United States have burgeoned as a key energy supplier amid Russia’s war in Ukraine, with petroleum product exports doubling from 2010-2022, and the Energy Information Administration (EIA) is expecting this growth to continue.  In the past year of a major global energy reshuffling, average U.S. petroleum product exports grew 7% to 5.97 million b/d…

Amid lower-than-expected heating demand this winter, the Energy Information Administration (EIA) said Tuesday it is raising its projected end-March storage carryout to more than 1.9 Tcf, a 27% increase compared to projections issued in January. A 1.9 Tcf end-March carryout would also represent a 23% surplus to the prior five-year average, EIA said in its…

Natural gas futures extended their gains on Monday as weather models continued to show cold over much of the Lower 48 for early to mid-March and Freeport LNG stayed on its path toward full operations. With some nascent technical momentum also in play, the newly prompt April Nymex natural gas contract settled at $2.731/MMBtu, up…

With the Haynesville Shale continuing to serve as the biggest driver of projected onshore natural gas production growth, output from seven key Lower 48 plays is poised to grow by 426 MMcf/d from February to March, according to the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), published Monday, the agency modeled…

With the Haynesville Shale continuing to serve as the biggest driver of projected onshore natural gas production growth, output from seven key Lower 48 plays is poised to grow by 426 MMcf/d from February to March, according to the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), published Monday, the agency modeled…

Gov. Tim Walz of Minnesota’s Democratic-Farmer-Labor Party has signed into law clean energy goals that target a carbon-free electricity grid by 2040.  State House File 7 (HF7) amended Minnesota’s Renewable Energy Standard statute. It added a target for electric utilities, generation and transmission cooperatives, and municipal power agencies to generate or procure by 2035 at…

In a nod to the steep decline in natural gas prices following mild weather this winter, the Energy Information Administration (EIA) is slashing its 2023 Henry Hub forecast, with the agency now modeling a 50% discount versus 2022 prices. The “significantly warmer-than-normal” weather in January depressed space heating demand and padded storage inventories, EIA said…

Domestic crude production climbed to the highest level since 2020 as demand for petroleum products pushed ahead last week, the U.S. Energy Information Administration (EIA) said Wednesday. American producers generated 12.3 million b/d for the week ended Feb. 3, up by 100,000 b/d from the prior week, data from EIA’s latest Weekly Petroleum Status Report…

Coming off a week in which natural gas futures tumbled nearly 30 cents at the front of the curve, the Nymex March contract appears to be trying to find a bottom. The prompt month traded mostly range bound throughout Monday’s session before ultimately settling 4.7 cents higher at $2.457/MMBtu. At A Glance: Production recovering Weather…