The U.S. Energy Information Administration (EIA) forecasts that U.S. natural gas exports will exceed natural gas imports by an average 7.3 billion cubic feet per day (Bcf/d) in 2020 (2.0 Bcf/d higher than in 2019) and 8.9 Bcf/d in 2021. Growth in U.S. net exports is led primarily by increases in liquefied natural gas (LNG) exports and pipeline exports to Mexico. Net natural gas exports more than doubled in 2019, compared with 2018, and EIA expects that they will almost double again by 2021 from 2019 levels.

Crude oil production from the major US onshore regions is forecast to increase 22,000 b/d month-over-month in January from 9,178 to 9,200 thousand barrels/day, gas production to increase 65 million cubic feet/day from 85,920 to 85,985 million cubic feet/day .

Since US LNG exports from the Lower 48 began in February 2016, Europe has received 28.3 Bcm of gas equivalent,

Total US LNG feedgas volumes reached a new all-time high of 9.4 Bcf/d Tuesday, after exceeding 9 Bcf/d for the first time on January 19.

U.S. Industrial production declined 0.3 percent in December, as a decrease of 5.6 percent for utilities outweighed increases of 0.2 percent for manufacturing and 1.3 percent for mining.

The firm has committed to a $13 billion program to refurbish six of the units which will significantly extend their operating lives. It follows that any new construction of SMRs, or anything else such as a molten salt or other type of advanced unit,, will have to get past a significant financial hurdle in terms of verified cost competitiveness for any utility to decide to proceed with it.

On trade, an important agreement was announced this week, but much more work is ahead to heal the fractures between the world’s two largest economies. Beyond the US and China, the global trading system is in need of a significant upgrade.

Academics and concerned citizens often ask "how long" will it take for the global economy to transition to zero carbon energy systems in the transportation, electric generation and heavy industry sectors.

The waiver allows Chevron, Halliburton, Schlumberger, Baker Hughes and Weatherford International to continue certain work with PDVSA, outside of US sanctions.

A “clean energy resource” is defined as “any technology used to generate electricity without emitting carbon dioxide into the atmosphere,” including “(i) electric generation facilities that are powered by nuclear, solar, wind, falling water, wave motion, tides, or geothermal power; (ii) a natural gas-fired generation facility with 80 percent carbon capture; or (iii) a coal-fired generation facility with 90 percent carbon capture.”

U.S. Rig Count is up 15 rigs from last week to 796, Canada Rig Count is up 41 rigs from last week to 244

Solar and wind power use has grown at a rapid rate over the past decade or so, but as of 2018 those sources accounted for less than 4% of all the energy used in the U.S.

Brent crude oil spot prices will average $65 per barrel (b) in 2020 and $68/b in 2021, compared with an average of $64/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $5.50/b lower than Brent prices through 2020 and 2021, compared with an average WTI discount of about $7.35/b in 2019.

But Papa, boss of the world’s largest oilfield services company, expects U.S. output to grow by just 400,000 bpd in 2020 and by 100,000-500,000 bpd per year through 2025, depending on future oil prices.

U.S. dry gas production will fall to 94.11 billion cubic feet per day (bcfd) in 2021 from a record 94.74 bcfd in 2020. The current all-time high is 92.03 bcfd in 2019.