According to the latest “This Week In Petroleum” report by the Energy Information Administration (EIA), total exports of domestic petroleum products in general continued increasing in 2015 due to higher exports of distillate fuel, motor gasoline and propane specifically.
Distillates comprised the highest portion of overall exported petroleum products, and during 2015, about 1.19 million barrels per day (MMbbl/d) were exported, up from 2014’s 85 Mbbl/d.
This fuel went to 88 countries in 2015, with the top destination being Mexico, the EIA said. Mexico averaged 143 Mbbl/d last year, which was an increase of 15 Mbbl/d from 2014. Chile, though, brought in the most U.S. distillate last year, averaging 101 Mbbl/d.
Motor gasoline was the second-largest exported petroleum product in 2015—on average, 618 Mbbl/d went to 102 countries, up 68 Mbbl/d from 2014’s amount, the EIA said. Mexico again was the largest recipient, averaging 307 Mbbl/d, or half of 2015’s total, the administration added.
Because the country reformed its fuel import program, Nigeria helped lower the overall export of motor gasoline to Africa as a whole. Exports decreased by 28 Mbbl/d.
While temporary restraints on supply tempered gasoline exports in Ecuador and Colombia, the two countries still received 15 Mbbl/d more and 10 Mbbl/d more of U.S. gasoline than in 2014.
The U.S. saw its propane stocks increase by 0.2 barrels during the week of March 21, to 62.5 MMbbl—15% higher than one year ago.
Propane exports came behind motor gasoline exports, nearly matching it at 615 Mbbl/d in 2015, higher than 2014’s amount by 193 Mbbl/d. Propane exports headed for Asia, the EIA said, noting that the region will be the leading source of global propane consumption growth because the region’s petrochemical sector is expanding.
Back home, the average American consumer saw the price of gasoline lower by 49 cents in 2015. Residential propane prices are lower by 32 cents per gallon from 2015’s price, and heating costs are lower than last year’s price by 91 cents, the EIA said.
Erin Pedigo can be reached at epedigo@hartenergy.com
Recommended Reading
OMS Energy Files for IPO, Reports Revenue Growth
2024-11-06 - Singapore-based OMS Energy, a wellhead system manufacturer, has not yet determined its price range and number of shares.
Record NGL Volumes Earn Targa $1.07B in Profits in 3Q
2024-11-06 - Targa Resources reported record NGL transportation and fractionation volumes in the Permian Basin, where associated natural gas production continues to rise.
Twenty Years Ago, Range Jumpstarted the Marcellus Boom
2024-11-06 - Range Resources launched the Appalachia shale rush, and rising domestic power and LNG demand can trigger it to boom again.
TC Energy Spinoff, Oxy Warn Shareholders of Unsolicited Mini-Tender Offer
2024-11-04 - South Bow and Occidental Petroleum said the offer from TRC Capital, which seeks to purchase up to 2 million and 3 million common shares respectively, is below both companies’ current market value.
ConocoPhillips Hits Permian, Eagle Ford Records as Marathon Closing Nears
2024-11-01 - ConocoPhillips anticipates closing its $17.1 billion acquisition of Marathon Oil before year-end, adding assets in the Eagle Ford, the Bakken and the Permian Basin.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.