Natural gas storage injections exceed five-year average so far this summer
Working natural gas inventories totaled 2,930 billion cubic feet (Bcf) in the Lower 48 states as of July 7, according to our Weekly Natural Gas Storage Report. U.S. natural gas production has outpaced demand, resulting in more natural gas injected into storage midway through the 2023 refill season (April 1–October 31). Since April 1, net […]
As Texas wind and solar capacity increase, energy curtailments are also likely to rise
We project combined wind and solar generating capacity in Texas’s power market will double by 2035, fueling a growing renewable share of total generation. However, without upgrades to the state’s transmission system, wind and solar generation will increasingly be curtailed, according to our recent analysis, A Case Study of Transmission Limits on Renewables Growth in […]
2022 Appalachian natural gas production flat with productivity declines in key counties
Natural gas production in the Appalachian Basin remained flat in 2022 as production from a group of four key Pennsylvania counties declined.
Crude oil and natural gas proved reserves held by public companies fell slightly in 2022
International proved crude oil and natural gas reserves held by 187 publicly traded global exploration and production (E&P) companies declined by 5.6 billion barrels of oil equivalent (BOE) in 2022, or 2%, according to data from the companies’ annual financial reports. In 2020, proved reserves held by these public companies had dropped by 9% due […]
Biofuels are displacing petroleum-based distillate fuel oil consumption on the West Coast
Last year, U.S. West Coast distillate consumption, as measured by product supplied, was at its lowest since 2002 and is on track to fall further this year. The growing use of biofuels instead of petroleum diesel is the primary cause for the decline. Renewable diesel has a growing share of the region’s diesel fuel market […]
Two counties in New Mexico account for 29% of Permian Basin crude oil production
In southeastern New Mexico, horizontal wells in the Lea and Eddy counties drove much of the recent growth in Permian Basin crude oil output. Output from horizontal wells in the two counties accounted for 29% of all crude oil production in the Permian in the first quarter of 2023, averaging 1.7 million barrels per day […]
Global liquefied natural gas trade volumes set a new record in 2022
In 2022, global trade in liquefied natural gas (LNG) set a record high, averaging 51.7 billion cubic feet per day (Bcf/d), a 5% increase compared with 2021, according to data by CEDIGAZ. Liquefaction capacity additions, primarily in the United States, drove growth in global LNG trade. At the same time, increased LNG demand in Europe […]
Nonfossil fuel energy sources accounted for 21% of U.S. energy consumption in 2022
Primary energy consumption in the United States was 100.4 quadrillion British thermal units (quads) in 2022, a 3% increase from 2021. About 21% of U.S. energy consumption in 2022 came from nonfossil fuel sources such as renewables and nuclear—a tie with 2020 as the highest share since the early 1900s, according to data in our […]
Energy trade between Mexico and the United States reached a record $81.9 billion in 2022
In 2022, energy trade between the United States and Mexico increased substantially from 2021 because high commodity prices drove up the value of the trade. Energy trade in 2022 between the United States and Mexico totaled $81.9 billion in real prices, an all-time high. Energy trade value is the combined value of energy imports and […]
LNG-exporting Gulf Coast states drove U.S. natural gas demand growth
U.S. natural gas demand (domestic consumption plus gross exports) increased 43%, or 34.5 billion cubic feet per day (Bcf/d), from 2012 to 2022. Demand in the Gulf Coast states of Louisiana and Texas grew by 116%, or 16.0 Bcf/d, driven largely by increased demand for feedgas for liquefied natural gas (LNG) exports. U.S. LNG exports […]