U.S. liquefied petroleum gas (LPG) and ethane exports through the Panama Canal rose in January 2024 with a return to vessel traffic through the shipping channel as drought conditions eased. Transit volumes of LPG and ethane had fallen in late 2023 amid a historic drought at the Panama Canal.
Operators plan to retire 5.2 gigawatts (GW) of U.S. electric generating capacity in 2024, a 62% decrease from last year when 13.5 GW was retired and the least in any year since 2008, according to our latest Preliminary Monthly Electric Generator Inventory. Coal and natural gas jointly account for 91% of the planned ...
Developers and power plant owners plan to add 62.8 gigawatts (GW) of new utility-scale electric-generating capacity in 2024, according to our latest Preliminary Monthly Electric Generator Inventory. This addition would be 55% more added capacity than the 40.4 GW added in 2023 (the most since 2003) and points to a ...
Spot petroleum product prices at the Chicago trading hub are increasing after an unplanned outage of bp's refinery in Whiting, Indiana, on February 1. The 435,000-barrel-per-day (b/d) refinery, the largest in the Midwest (PADD 2), has been offline since then because of a power outage. Inventories of motor gasoline and ...
In our International Energy Outlook 2023 (IEO2023), we project natural gas consumption to more than triple in India by 2050. We project annual growth of 4.4% over that period, more than twice the 2.0% annual growth rate of natural gas consumption in China, the next-fastest-growing country.
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per million British thermal units (MMBtu), in our February Short-Term Energy Outlook (STEO). We forecast increases in natural gas prices as demand for natural gas grows faster ...
After the 2011 Fukushima Daiichi accident, Japan suspended operations at all of its remaining 48 nuclear power reactors by 2013 and relied almost exclusively on imported natural gas to replace the lost electricity generation. In 2015, Japan allowed its first nuclear power reactor to resume operations. As of December ...
Developers advanced three liquefied natural gas (LNG) projects to the construction phase in 2023, following the signing of sale and purchase agreements (SPA)—contracts specifying the terms and conditions of LNG supplies between seller and buyer—underpinning the projects. Developers signed contracts with buyers for ...
On January 16, 2024, a record high of 141.5 billion cubic feet (Bcf) of natural gas was consumed in the U.S. Lower 48 states (L48), exceeding the previous record set on December 23, 2022, according to estimates from S&P Global Commodity Insights. Well-below-normal temperatures caused by a large mass of arctic air ...
The United Arab Emirates (UAE) has invested heavily in increasing hydrocarbon production capacity and developing midstream and downstream infrastructure to accommodate future growth in hydrocarbon production. However, over the past 10 years, UAE actual production has averaged just less than 3 million barrels per day ...
