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Our U.S. summer natural gas consumption forecast for electric power matches 2023 record

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We forecast that the natural gas consumed for electricity generation this summer in the United States will reach near the record set last year. Despite a 3% increase in overall U.S. electricity generation this summer, we do not expect natural gas consumption for electricity generation to grow. Growth in electricity ...

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Congo Brazzaville becomes a liquefied natural gas-exporting country

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After years of either declining or stable domestic natural gas production, the Republic of the Congo, also known as Congo Brazzaville, began exporting liquefied natural gas (LNG) for the first time when the first phase of a two-phase floating LNG (FLNG) project began operating in February 2024. The development of LNG ...

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U.S. biodiesel imports have doubled since 2022 due to low prices in Europe

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Annual U.S. biodiesel imports doubled from 2022 to 2023 to 33,000 barrels per day (b/d) and continued to rise in the first two months of 2024, according to the most recent data available. Much of the increase in biodiesel imports has come from Germany, and the remaining increase has come mostly from elsewhere in ...

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U.S. gasoline prices ahead of Memorial Day weekend are 1% higher than last year

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On May 20, 2024, the Monday before Memorial Day, the retail price of regular gasoline averaged $3.58 per gallon (gal) across the United States, 1% higher than at the same time last year. After adjusting for inflation (real terms), average U.S. retail gasoline prices going into Memorial Day weekend are 2% lower than ...

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Forecast strong hurricane season presents risk for U.S. oil and natural gas industry

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Meteorologists are forecasting a particularly intense Atlantic hurricane season this year; they expect 20-25 named storms with a possibility of 30 or more, according to reports from AccuWeather in April. Colorado State University similarly forecasts an estimated 23 named storms this year. The potential for a stronger ...

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Guyana becomes key contributor to global crude oil supply growth

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Guyana, situated on South America's northern coast neighboring Venezuela, Suriname, and Brazil, has emerged as a significant contributor to growth in the global supply of crude oil. Since starting production in 2019, Guyana has increased its crude oil production to 645,000 barrels per day (b/d) as of early 2024, all ...

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U.S. electricity consumption by light-duty vehicles likely surpassed rail in 2023

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Light-duty vehicles (LDV) in the United States used more electricity than rail systems for the first time in 2023, according to new estimates in our Electric Power Monthly. We recently started publishing experimental estimates for LDV electricity consumption, which are not collected on our traditional surveys but are ...

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Natural gas-fired electricity generation in Texas set winter record in January 2024

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The electric power grid managed by the Electric Reliability Council of Texas (ERCOT) recorded an all-time high for winter natural gas-fired electricity generation for an hour in January, according to our Hourly Electric Grid Monitor, when a three-day cold snap increased electricity demand. Hourly natural gas-fired ...

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Russia’s seaborne diesel trading partners shifted after Feb 2023 sanctions

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In 2023, Brazil and Saudi Arabia replaced France and Germany as the countries with the second- and third-most seaborne diesel imports from Russia after sanctions related to Russia's petroleum product trade went into effect in February 2023. T�rkiye was Russia's largest seaborne diesel importer in both 2022 and 2023.

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Higher refining costs could increase summer gasoline prices

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Average monthly prices for regular-grade retail gasoline in the United States could increase by more than 10 cents per gallon (gal) if refinery output is lower than expected, according to an analysis we published on May 14.

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U.S. share of electric and hybrid vehicle sales decreased in the first quarter of 2024

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The share of electric and hybrid vehicle sales in the United States decreased in the first quarter of 2024 as battery electric vehicle (BEV) sales declined. Hybrid vehicles, plug-in hybrid electric vehicles, and BEVs fell to 18.0% of total new light-duty vehicle (LDV) sales in the United States in the first quarter of ...

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U.S. share of electric and hybrid vehicle sales decreased in the first quarter of 2024

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The share of electric and hybrid vehicle sales in the United States decreased in the first quarter of 2024 as battery electric vehicle (BEV) sales declined. Hybrid vehicles, plug-in hybrid electric vehicles, and BEVs fell to 18.0% of total new light-duty vehicle (LDV) sales in the United States in the first quarter of ...

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