Subscribe free to our newsletters via your
. Energy News .




ENERGY TECH
U.S. oil inventories at record high
by Daniel J. Graeber
Washington (UPI) Apr 18, 2013


Refining sector strong in March, API said
Washington (UPI) Apr 18, 2013 - API Chief Economist John Felmy said U.S. refineries produced more petroleum products than the nation's economy needed last month.

The production of gasoline and other products increased in March. Gasoline production in particular increased 4.7 percent year-on-year to 9.3 million barrels per day, a level the American Petroleum Institute said was a record for the month of March.

"March brought strong demand for both gasoline and distillate fuel, but refinery production actually outstripped demand for all four major products," Felmy said in a statement Thursday. "Fortunately, the rest of the world is also eager to buy the output of U.S. refineries."

Legislation enacted in the wake of the Arab oil embargo in the 1970s restricts crude oil exports from the United States, though other products are delivered. API has lobbied for a reversal of the ban.

The organization said U.S. petroleum deliveries, a measure of demand, increased 0.4 percent year-on-year to average 18.6 million barrels per day last month, the highest level for March since 2011.

For the quarter, however, total petroleum demand declined 0.3 percent compared with the same time last year.

The amount of crude oil at Gulf Coast facilities reached the highest level ever because of production gains and new transit routes, the U.S. government said.

The Energy Information Administration, part of the Energy Department, said crude oil inventories on the Gulf Coast reached 207.2 million barrels April 11, the highest level ever recorded.

EIA said the buildup was a result of the closing of area refineries for routine maintenance, the opening of a new TransCanada pipeline feeding the region and increased crude oil production in the country.

Last week, EIA said proved crude oil reserves in the United States in 2012 were 33 billion barrels, a 15 percent increase from the previous year and the highest level ever recorded since 1976.

EIA said Thursday the main driver of crude oil inventory gains was the January launch of TransCanada's so-called Marketlink pipeline, which runs from Cushing, Okla., to a storage facility in Houston. The pipeline has a capacity to deliver as much as 525,000 barrels of oil per day from the Cushing storage hub.

EIA added an increase in regional crude oil production has kept Gulf Coast inventories elevated.

"In the 106 weeks since March 2012, U.S. Gulf Coast inventories have been above the previous five-year average in all but seven of those weeks," EIA said.

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





ENERGY TECH
Technip, Heerema win third giant Angolan oil contract
Paris (AFP) April 16, 2014
The ultra-deep Angolan offshore oil project called Kaombo generated the third huge contract in three days on Wednesday when French group Total picked two firms to carry out underwater engineering worth $3.5 billion. The latest groups to win a share of the mega investment are French engineering firm Technip in association with Dutch company Heerema Marine Contractors. The cascade of annou ... read more


ENERGY TECH
Expanding energy access key to solving global challenges

Study Says Renewables to Hit 16 percent by 2018

Gazprom Neft helps Iraqi electricity capacity

Energy change is key to meeting UN climate goal: panel

ENERGY TECH
Scientists Capture Ultrafast Snapshots of Light-Driven Superconductivity

Nobel winners to White House: Reject Keystone XL

Canadian oil exports increase

GDF Suez optimizes LNG deliveries

ENERGY TECH
12 U.S. states account for 80 percent of wind power

Group to spearhead German wind farm program

DNV GL Recognizes Wind Turbine Design by Goldwind

Ireland scraps wind energy exports

ENERGY TECH
Shiny quantum dots brighten future of solar cells

Let the Sun Shine In: Redirecting Sunlight to Urban Alleyways

Better solar cells, better LED light and vast optical possibilities

New 'tunable' semiconductors will allow better detectors, solar cells

ENERGY TECH
Areva says in line to build British nuclear waste plant

Floating nuclear plants could ride out tsunamis

Iran needs 30,000 new centrifuges for fuel: official

Westinghouse extends nuclear fuel deal with Ukraine

ENERGY TECH
Genetically modified tobacco plants as an alternative for producing bioethanol

Stanford scientists discover a novel way to make ethanol without corn or other plants

Trees go high-tech: process turns cellulose into energy storage devices

US Navy 'game-changer': converting seawater into fuel

ENERGY TECH
China launches experimental satellite

Tiangong's New Mission

"Space Odyssey": China's aspiration in future space exploration

China to launch first "space shuttle bus" this year

ENERGY TECH
UN climate chief urges 'bold' carbon-curbing steps

UN climate goal feasible but energy reform vital: panel

UC Geographers Develop a System to Track the Dynamics of Drought

Global warming not taken seriously: World Bank's Kim




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.