Maritime chokepoints are critical to global energy security (7/26/2017)

The U.S. Energy Information Administration (EIA) has released its 2017 World Oil Transit Chokepoints report highlighting chokepoints that are part of major trade routes for global seaborne oil transportation (Figure 1). Chokepoints are narrow channels along widely used global sea routes for oil transport, with some so narrow that restrictions are placed on the size of the vessel that can navigate through them. Chokepoints are critical to global energy security. ... More »

U.S. crude oil production forecast to average 9.9 million barrels per day in 2018 (7/19/2017)

EIA forecasts that total U.S. crude oil production will average 9.3 million barrels per day (b/d) in 2017, up 0.5 million b/d from 2016. In 2018, crude oil production is expected to reach an average of 9.9 million b/d, which would surpass the previous record of 9.6 million b/d set in 1970. Most of the growth in U.S. crude oil production from June 2017 through the end of next year is expected to come from tight rock formations within the Permian region in Texas and from the Federal Offshore Gulf of Mexico (GOM) (Figure 1).. ... More »

U.S. oil producers paying off debt, but higher costs restrict cash flow growth (7/12/2017)

EIA’s review of first-quarter 2017 financial results for 54 publicly traded U.S. oil and gas producers indicates that these companies, in aggregate, are paying off debt while funding investment through the sale of assets and the issuance of equity. In recent years, investment had been more heavily funded through the issuance of debt. Although revenue for these companies has grown over the past year with higher oil prices, net cash from operations has grown more slowly because of increased upstream costs. ... More »

U.S. refinery capacity at the start of 2017 is 1.6% above its year-earlier level (7/6/2017)

As of January 1, 2017, U.S. operable atmospheric crude distillation capacity reached 18.6 million barrels per calendar day (b/cd), 1.6% higher than at the beginning of 2016 according to EIA's recently released annual Refinery Capacity Report. ... More »