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Today in Energy
1 - Projected bulk chemicals output varies across alternative energy price scenarios
Short, timely articles with graphics on energy facts, issues, and trends.
2 - U.S. petroleum product exports increase in 2013
3 - Extending residential energy policies affects some end uses more than others
4 - Eleven states generated electricity from nonhydro renewables at double U.S. average
5 - Gulf Coast crude oil inventories reach record level
Projected bulk chemicals production is quite sensitive to alternative assumptions regarding long-term oil prices and domestic oil and natural gas resources, according to recently released analysis in EIA's AEO2014 Issues in Focus. This reflects price changes for natural gas and hydrocarbon gas liquids, which bulk chemical producers use for heat, power, and feedstock. Changes in oil prices also affect the bulk chemical industry.
Exports of petroleum products from the United States averaged 3.5 million barrels per day (bbl/d) in 2013, 10% more than in 2012. The increase in exports was broad-based, affecting multiple products going to multiple regions. In December 2013, U.S. exports of petroleum products reached 4.3 million barrels per day, the first time exports exceeded 4 million barrels per day in a single month.
Many federal energy programs target residential consumption, such as appliance standards, building energy codes, and tax credits for energy efficient equipment. Because the AEO2014 Reference case is intended to reflect current laws and regulations, two side cases show the effects of the continued availability of incentives and further strengthening of standards beyond levels already established under existing laws or regulations.
About 6.2% of total U.S. electricity supplies in 2013 were generated from nonhydro renewable energy sources such as wind, solar, biomass, and geothermal, up from 5.4% in 2012. But 11 states produced electricity at more than twice the national average from these sourcesaccounting for between 14% and 32% of their net electric generationaccording to preliminary 2013 generation data in EIA's Electric Power Monthly report.
Crude oil inventories on the U.S. Gulf Coast (USGC) reached 207.2 million barrels (bbl) on April 11, a record high. The elevated inventory levels are the result of the continuing strong crude oil production growth, the opening of TransCanada's Marketlink Pipeline, and a drop in crude oil inputs at USGC refineries as a result of seasonal maintenance.
Oil and Gas
1 - NYMEX-U.S. crude near two-week lows, oil inventories hit record
Latest news on oil prices, fracking, drilling, refining, and processing for gas.
2 - All at sea: global shipping fleet exposed to hacking threat
3 - UPDATE 4-Canada to phase out old railway oil tankers; won't wait for U.S.
4 - Russian social media CEO quits, flees country
5 - Commodities tomorrow: Oil inventories drive down price
6 - UPDATE 8-Oil futures slip on record U.S. oil inventories
7 - Rail safety effort marred by squabbling
8 - UPDATE 3-Moscow to meet Ukraine for energy talks as EU frees gas for Kiev
9 - Total sees Russia as biggest source of its oil output by 2020
10 - India, Iran in deal to ease sting of sanctions
11 - India to make May-July oil payments to Iran - sources
12 - Canada to end tankers linked to Quebec explosion
13 - UPDATE 6-Brent oil slips below $109 as U.S. oil inventories hit record
14 - Crude inventories build 3.5 million barrels
15 - Ukraine crisis seen speeding Gazprom deal with China
16 - Cramer's Stop Trading: Playing the Permian
17 - UPDATE 1-Thailand's PTTEP buys Hess assets in $1 bln deal - CEO
18 - UPDATE 1-Rosneft eyes Africa, former Soviet posting of CEO
19 - INTERVIEW-Libya expects $8 bln deficit in 2014 after oil shutout
20 - UPDATE 2-EU says no date set for gas talks with Ukraine and Russia
21 - UPDATE 1-Ukraine, Russia, EU may meet to talk gas - Ukraine minister
22 - UPDATE 3-Brent oil holds above $109 on economic data, Ukraine supports
23 - Billions needed to upgrade Egypt's power grid as summer crunch looms
24 - Import tariffs strain rich-poor gap in "madly expensive" Luanda
25 - UPDATE 1-Brent holds above $109 after in-line China data, Ukraine supports
26 - Oil falls as US oil supplies rise by 3.5M barrels
27 - UPDATE 1-China end-March crude oil stocks down 2.9 pct on month
28 - Brent holds above $109 as China data meets forecast, Ukraine supports
29 - NYMEX-U.S. crude steady on hopes oil inventory rose slower than forecast
30 - Damages phase of BP Gulf spill trial set for January
U.S. crude gained 14 cents to $101.58 a barrel by 0028 GMT, after settling 31 cents lower in the previous session. Oil exports from Iraq's southern terminals are heading for a record high in April, according to loading data and industry sources, reflecting Iraq's efforts to expand capacity and deliver supply growth in 2014..
SINGAPORE, April 24- The next hacker playground: the open seas- and the oil tankers and container vessels that ship 90 percent of the goods moved around the planet.
OTTAWA, April 23- Canada will require that older rail cars used for carrying crude oil be phased out by May 2017, the government said on Wednesday, moving ahead of the United States to ban the controversial cars in light of burgeoning oil-by-rail traffic and a deadly accident last year.
MOSCOW— The founder of Russia's leading social media network— a wunderkind often described as Russia's Mark Zuckerberg— has left his post as CEO and fled the country as cronies of President Vladimir Putin have made steady inroads into the company's ownership.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Downward pressure on stocks drove down oil prices today. Nat gas was up slightly on the day, albeit in a tight range. And gold was up slightly on the day, closing at $1,284.60.
*U.S. oil stocks hit record high, Cushing draw supports. *Ukraine says truce is over, Russia says will respond. NEW YORK, April 23- Crude oil futures slipped on Wednesday after weekly data showed U.S. crude inventories hit a record high, though Brent managed to settle above $109 on support from the ongoing crisis in Ukraine.
The Transportation Department, worried about the potential for catastrophic accidents involving oil and ethanol trains that are sometimes as many as 100 cars long, is drafting new tank-car regulations aimed at making the cars less likely to spill their contents in the event of a crash.
*Russia proposes April 28 for Moscow meeting. BRUSSELS/ MOSCOW, April 23- European and Russian officials will meet this week and next for emergency talks to try to prevent Moscow cutting off gas supply to Ukraine, as Europe explores how to pump more gas to the struggling country.
PARIS, April 23- France's Total expects the biggest share of its oil and gas output to come from Russia by 2020 and plans to stay there for the long haul despite recent tensions with the West over Ukraine, a top executive said.
India will pay Iran nearly $2 billion under an interim deal that eases nuclear sanctions
NEW DELHI, April 23- India is set to pay Iran $1.65 billion over the next three months under an interim nuclear deal that eases sanctions on Tehran and gives it access to $4.2 billion in blocked funds, four sources with knowledge of the matter said.
TORONTO— Canada said Wednesday it was phasing out the type of rail tankers involved in last summer's massive explosion of a runaway oil train that incinerated much of a town in Quebec, killing 47 people and prompting intense public pressure to make oil trains safer.
*Ukraine says' Easter truce' is over. *Survey shows China manufacturing decline slows. LONDON, April 23- Brent oil fell below $109 on Wednesday after weekly data showed U.S. crude inventories hit a record high, though prices found some support from the unfolding crisis in Ukraine.
CNBC's Jackie DeAngelis reports crude oil inventories increased 3.5 million barrels, in line with expectations.
*Gazprom has agreed to lower gas price- sources. MOSCOW/ BEIJING, April 23- Europe's plans to reduce its dependence on Russian energy as the Ukraine crisis threatens supplies are spurring efforts by Russia's top producer, Gazprom, to sign a deal next month to pump gas to China, industry sources say.
CNBC's Jim Cramer explains why he is watching shares of Concho Resource, Pioneer Natural, and Barrick Gold.
BANGKOK, April 23- PTT Exploration and Production Pcl, Thailand's top oil and gas explorer, has bought Hess Corp's assets in Thailand in a $1 billion deal as part of its attempt to boost its gas business, the company's CEO said on Wednesday.
*Rosneft met with Angola and Mozambique officials this week. MOSCOW, April 23- Russian oil producer Rosneft may expand in the African countries of Angola and Mozambique, where its boss Igor Sechin served as a Soviet translator in the early 1980 s.
TRIPOLI, April 23- Libya plans deep austerity measures to tackle a budget deficit expected to reach up to 10 billion Libyan dinars this year due to rebel blockades which have strangled oil production, a senior lawmaker told Reuters. Libya traditionally runs large surpluses thanks to oil export revenues.
BRUSSELS/ KIEV, April 23- The European Commission said on Wednesday it is working on holding talks with Ukraine and Russia on a possible solution to Kiev's gas crisis, but no date has been set.
KIEV, April 23- Russia, the European Commission and Slovakia may hold talks with Ukraine on Thursday on a possible solution to the country's gas crisis, Ukraine's Energy Minister Yuri Prodan said. Prodan told reporters on Wednesday that Moscow and the European Union had suggested the ministerial meeting, which would be held in the Slovak capital of Bratislava.
*Ukraine says' Easter truce' is over. LONDON, April 23- Brent crude oil edged higher above $109 a barrel on Wednesday after stronger-than-expected economic data from China and Europe reinforced the outlook for global demand growth, and as the unfolding crisis in Ukraine deterred sellers.
CAIRO, April 23- Egypt needs to find at least $5 billion to invest in its dilapidated power grid, a government official told Reuters, highlighting a major challenge for the next president as the country faces the risk of worsening blackouts this summer.
*Luanda offers contrasts of conspicuous wealth and poverty. LUANDA, April 23- In Luanda's Jumbo supermarket, a half-litre tub of imported vanilla ice-cream used to cost $25, testament to the Angolan capital's rank as one of the world's most expensive cities.
SINGAPORE, April 23- Brent futures held above $109 a barrel on Wednesday with the global demand growth outlook largely unchanged after a Chinese manufacturing survey showed an easing pace of decline, while the unfolding Ukraine crisis kept any losses in check.
By early afternoon in Europe, U.S. crude for May delivery was down 22 cents to $101.53 a barrel in electronic trading on the New York Mercantile Exchange. The report from the Energy Department's Energy Information Administration— the market benchmark— will be out later Wednesday.
*Crude stocks drop on lower imports. BEIJING, April 23- China's commercial crude oil. China's crude oil imports in March fell to a five-month low of 5.54 million barrels per day, official data has shown, after three months of high inbound shipments and gains in fuel product inventories.
*Ukraine president calls for anti-rebel offensive as peace deal falters. SINGAPORE, April 23- Brent futures held above $109 a barrel on Wednesday with the global demand growth outlook largely unchanged after a Chinese manufacturing survey showed an easing pace of decline, while the unfolding Ukraine crisis kept any losses in check.
SINGAPORE, April 23- U.S. crude futures held steady near $102 a barrel in early Asian trade on Wednesday after steep losses in the previous session on expectations oil inventories in the world's top consumer rose at a much slower pace than expected.
HOUSTON, April 22- The high-stakes penalty phase of BP's trial over its role in the 2010 U.S. Fines under the Clean Water Act could top $17 billion, an amount more than BP's profit in 2013, which after items was $13.4 billion.