U.S. Energy Information Administration - EIA - Independent Statistics and Analysis

2023/07/30

Data source: U.S. Energy Information Administration, U.S. Energy Information Administration, State Energy Data SystemCalifornia accounts for nearly all renewable diesel consumption in the United States, but most of it isn’t made in the state. Renewable diesel is a liquid biofuel that is chemically equivalent to petroleum diesel and can be used as an additive or substitute for diesel fuel in vehicles. Unlike biodiesel, renewable diesel can be transported in petroleum pipelines and sold at retail stations without blending with petroleum diesel. California’s renewable diesel consumption grew substantially after its Low Carbon Fuel Standard (LCFS) went into effect in 2011. We recently published new renewable diesel statistics in SEDS, including annual renewable diesel production and consumption estimates by state for 2011 through 2021.

Natural gas prices fall in first half of 2023 amid record production and mild temperatures

2023/07/30

Relatively mild temperatures, record production, and higher-than-average inventories reduced natural gas prices. Relatively mild winter temperatures reduced demand for space heating across most of the United States in the first quarter of 2023, reducing natural gas consumption. Data source: U.S. Energy Information Administration, U.S. Energy Information Administration, Natural Gas MonthlyU.S. dry natural gas production has outpaced demand so far in 2023, contributing to lower natural gas prices. Dry natural gas production has remained at record highs in 2023, averaging over 101.0 Bcf/d each month. We expect dry natural gas production to average 102.6 Bcf/d (from July to December).

Refinery capacity increased slightly for the first time since the COVID-19 pandemic

2023/07/30

Data source: U.S. Energy Information Administration, U.S. Energy Information Administration, Refinery Capacity ReportU.S. refining capacity increased slightly for the first time since the COVID-19 pandemic, as of January 1, 2023, reversing two years of decline, according to our annual Refinery Capacity Report. Operable atmospheric crude oil distillation capacity, our primary measure of refinery capacity in the United States, totaled 18.1 million barrels per calendar day (b/cd), a 1% increase from 2022. We publish two measures of U.S. refinery capacity: barrels per calendar day (b/cd) and barrels per stream day (b/sd). The 2023 Refinery Capacity Report does not reflect changes in U.S. refining capacity after January 1, 2023. This new estimated capacity is reflected in our monthly data as of our May Petroleum Supply Monthly, and we will include an exact measure in calendar-day capacity and stream-day capacity in next year’s Refinery Capacity Report.

Texas power grid met record-breaking demand for electricity during recent heat wave

2023/07/30

An extreme heat wave in late June and July led to record-breaking demand for electricity in Texas as homes and businesses turned up their air-conditioning, fans, and other cooling equipment to cope with the heat. Previously, ERCOT’s record for hourly demand was 79,830 megawatthours (MWh) on July 20, 2022. Data source: U.S. Energy Information Administration,Note: Hydro's share of electricity generation is too small to graph. U.S. Energy Information Administration, Hourly Electric Grid Monitor Hydro's share of electricity generation is too small to graph. Adding to the pressure, ERCOT depends more on its own generation resources than other power grids.

Cooling commercial buildings is six times more energy-intensive in hot climates than cold

2023/07/30

U.S. commercial buildings in hot or very hot climates, which are primarily in the southernmost parts of the country, were more than six times more energy-intensive for cooling (14.2 thousand British thermal units per square foot [MBtu/sf]) than buildings in cold or very cold climates (2.3 MBtu/sf), according to our latest Commercial Buildings Energy Consumption Survey (CBECS). In 2018, 52% of buildings in the hot or very hot climate zone reported cooling all of their floorspace. In contrast, only 25% of buildings in the cold or very cold climate zone reported cooling all of their floorspace. An additional 55,000 buildings (1% of buildings with cooling) used district chilled water systems for cooling. Packaged units were used by 66% of air-conditioned buildings in the hot or very hot climate zone and 48% of air-conditioned buildings in the cold or very cold climate zone.

Eni Beats Estimates Despite 49% Profit Decline

2023/07/30

Eni’s (NYSE: E) adjusted net profit for the second quarter exceeded analyst estimates thanks to a very strong gas business despite the 49% earnings slump compared to last year’s second quarter. Eni reported on Friday an adjusted net profit of $2.13 billion (1.935 billion euros) for the second quarter, down by 49% on the year. The earnings nevertheless beat the analyst consensus estimate of $1.8 billion (1.64 billion euros). The pre-tax profit reflects resilient E&P earnings featuring growing production and another very strong contribution from the Global Gas & LNG Portfolio (GGP) division, Eni said. In the upstream division, Eni confirmed its 2023 full-year target of oil and gas production for 2023 in the range of 1.63-1.67 million boe/d in an oil price scenario of $80 per barrel.