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Last Updated: April 25, 2019
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In March 2019, Venezuela's crude oil production (excluding condensate) averaged 840,000 barrels per day (b/d), down from 1.1 million b/d in February, according to estimates in the U.S. Energy Information Administration's (EIA) April 2019 Short-Term Energy Outlook(STEO, Figure 1). This average is the lowest level since January 2003, when a nationwide strike and civil unrest largely brought Venezuela's state oil company, Petróleos de Venezuela, S.A.'s (PdVSA), operations to a halt. Widespread power outages, mismanagement of the country's oil industry, and U.S. sanctions directed at Venezuela's energy sector and PdVSA have all contributed to the recent declines. Venezuela's production decreased by an average of 33,000 b/d each month in 2018, and the rate of decline accelerated to an average of over 135,000 b/d per month in the first quarter of 2019. The number of active oil rigs—an indicator of future oil production—also fell from nearly 70 rigs in the first quarter of 2016 to 24 rigs in the first quarter of 2019. The declines in Venezuelan production will have limited effects on the United States, as U.S. imports of Venezuelan crude oil have decreased over the last several years, with average 2018 imports the lowest since 1989. However, there may be upward pressure on the prices of other crude oils imported into the United States.

Figure 1. Venezuela's crude oil production and oil rig count

Venezuela's production is expected to continue decreasing in 2019 and declines may accelerate as sanctions-related deadlines approach. These deadlines include provisions that third-party entities that use the U.S. financial system must cease transactions with PdVSA by April 28 and that U.S. companies, including oil service companies, involved in the oil sector must cease operations in Venezuela by July 27. Venezuela's chronic shortage of workers across the industry and the departure of U.S. oilfield service companies will likely contribute to a further step-level decrease in production.

Additionally, U.S. sanctions, as outlined in the January 25, 2019, Executive Order 13857, immediately banned exporting petroleum products—including unfinished oils that are blended with Venezuela's heavy crude oil for processing—from the United States to Venezuela and required payments for PdVSA-owned petroleum and petroleum products to be placed into an escrow account inaccessible by the company. The imposition of these sanctions has already affected oil trade between the United States and Venezuela in both directions. Preliminary weekly estimates indicate a significant decline in U.S. crude oil imports from Venezuela in February and March, as without direct access to cash payments, PdVSA had little reason to export crude oil to the United States. India, China, and some European countries continued to take Venezuela's crude oil, according to data published by ClipperData Inc., while the destinations of some vessels carrying Venezuelan crude oil remain unknown (Figure 2). Venezuela is likely keeping some crude oil cargoes intended for exports in floating storage until it finds buyers for the cargoes.

Figure 2. Venezuela's crude oil exports, March 2017-March 2019

A series of ongoing nationwide power outages in Venezuela that began on March 7 cut electricity to the country's oil-producing areas, likely damaging the reservoirs and associated infrastructure. In the Orinoco Oil Belt area, Venezuela produces extra-heavy crude oil that requires dilution with condensate or other light oils produced using complex processing units, or upgraders, to upgrade the crude oil before it is sent via pipeline to domestic refineries or export terminals. These upgraders were shut down in March during the power outages. If the crude or upgraded oil cannot flow as a result of a lack of power to the pumping infrastructure, the heavier molecules sink and form a tar-like layer in the pipelines that can hinder the flow from resuming even after the power outages are resolved. However, according to tanker tracking data, Venezuela's main export terminal at Puerto José was apparently able to load crude oil onto vessels between power outages, possibly indicating that the loaded crude oil was taken from onshore storage. For this reason, EIA estimates that Venezuela's production fell at a faster rate than its exports.

In 2019, Venezuela's crude oil production decline has resulted from a combination of disruptions and lost capacity. EIA differentiates among voluntary production reductions; unplanned production outages, or disruptions; and expected declines in production. For the Organization of the Petroleum Exporting Countries (OPEC), voluntary cutbacks count toward spare capacity. EIA defines spare crude oil production capacity as potential oil production that could be brought online within 30 days and sustained for at least 90 days, consistent with sound business practices.

For all countries, involuntary disruptions do not count as spare capacity. Events that could cause a disruption include, but are not limited to, sanctions, armed conflict, labor actions, natural disasters, or unplanned maintenance. In contrast, EIA considers production capacity declines that result from irreparable damage to be lost capacity and not a disruption. EIA no longer counts the lost production because it is very unlikely that it could return within one year and add to global supplies.

Because the power outages in Venezuela resulted from a lack of maintenance of the electricity grid, associated crude oil production declines are considered lost production capacity resulting from mismanagement. As of the April 2019 STEO, EIA includes the portion of Venezuela's production decline that resulted from U.S. sanctions—approximately 100,000 b/d beginning in February—as a disruption (Figure 3). If sanctions persist, the country will likely be unable to restart the disrupted portion of production and the 100,000 b/d will become lost capacity. Although EIA does not forecast unplanned production outages, its forecast for OPEC production totals will reflect declines in Venezuelan production.

Figure 3. OPEC unplanned crude oil production disruptions, October 2018-March 2019

As Venezuelan crude oil has come off the global market and as other countries—including the United States—have produced more light, sweet crude oil, the price discount of heavy, sour crudes has narrowed. U.S. refineries are among the most complex in the world, making them well-suited for the physical properties of Venezuelan crude oil (with high sulfur content and heavier API gravity). Heavier, more sour crude oil is typically priced lower than other crude oils because of differences in crude oil quality. Mars—a medium, sour crude oil produced in the U.S. Federal Offshore Gulf of Mexico—traded at a five-year (2014–18) average discount to Light Louisiana Sweet (LLS) of $3.94 per barrel (b). The Mars-LLS discount has narrowed in 2019, averaging $0.62/b in March, and even reached parity on March 27 (Figure 4).

Figure 4. Mars–LLS crude oil price spreads

Venezuela's crude oil production is forecasted to continue to fall through at least the end of 2020, reflecting an expectation of further declines in crude oil production capacity. Although EIA does not publish forecasts for individual OPEC countries, it does publish total OPEC crude oil and other liquids production. Further disruptions to Venezuela's production beyond what is currently included would change this forecast.

U.S. average regular gasoline and diesel fuel prices increase

The U.S. average regular gasoline retail price increased more than 1 cent from a week ago to $2.84 per gallon on April 22, more than 4 cents higher than the same time last year. The Rocky Mountain price increased nearly 12 cents to $2.76 per gallon, the West Coast price rose 5 cents to $3.63 per gallon, and the East Coast price increased nearly 2 cents to $2.73 per gallon. The Midwest price decreased more than 1 cent to $2.72 per gallon, and the Gulf Coast price fell slightly, remaining virtually unchanged at $2.54 per gallon.

The U.S. average diesel fuel price increased nearly 3 cents to $3.15 per gallon on April 22, more than 1 cent higher than the same time last year. The Rocky Mountain price increased 6 cents to $3.14 per gallon, the West Coast price increased nearly 5 cents to $3.70 per gallon, the Midwest price increased more than 3 cents to $3.04 per gallon, and the East Coast and Gulf Coast prices increased 2 cents to $3.17 per gallon and $2.92 per gallon, respectively.

Propane/propylene inventories rise

U.S. propane/propylene stocks increased by 1.0 million barrels last week to 57.8 million barrels as of April 19, 2019, 10.6 million barrels (22.5%) greater than the five-year (2014-2018) average inventory levels for this same time of year. Midwest inventories increased by 0.6 million barrels, while East Coast and Gulf Coast inventories each increased by 0.3 million barrels. Rocky Mountain/West Coast inventories decreased by 0.2 million barrels. Propylene non-fuel-use inventories represented 10.4% of total propane/propylene inventories.

crude oil forecasts projections international OPEC STEO production/supply Venezuela
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What Functions Does A Gas Regulator Valve Perform?

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The regulator was created in 1835, and its impact has lasted for a very long time. Regulators come in a variety of shapes and sizes, but they all serve the same purpose: controlling the flow of other gases or the pressure of natural gas or propane via a valve system.

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adding Lifestraw Shelf Life

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duly Clean After Each Use Proper conservation and care are two important factors that will help you increase your Lifestraw life.


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Read my full cleaning companion to wash and store your LifeStraw rightly.


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The  value of gas from biomass fuel pellet machine

What's the  relevance of biomass fuel pellets machining pellet  gas for a  nation's  advancement?

The biomass  central heating boiler needs to  utilize biomass  gas pellets or biomass fuel briquette to  offer  heat. The  handling of biomass  gas pellets is very  straightforward. The biomass fuel pellet  maker  assembly line  literally extrudes straw, wood chips, branches or tree stumps in three to five minutes.

fuel pellet plant

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With the rapid  financial development of various  nations, major enterprises have stepped up production and  unplanned mining,  leading to a  international  absence of  power,  and also my country's  eco-friendly  atmosphere is getting worse  day after day. Now  individuals's living  problems  have actually  boosted, they have a certain understanding of the living  atmosphere,  and also they  additionally attach  terrific importance to air  high quality.

 Because the  introduction of the biomass fuel pellet machine  created by the pellet  equipment  producer, it  has actually  totally  addressed the  trouble of shortage of coal  and also oil resources and replaced these scarce  sources. The  application of  farming waste  sources is the  essential  instructions for the  advancement of biomass pellet  gas in my  nation  currently and in the future.

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Taking China as an example, as early as the 1990s, my country  performed  research study on biofuel production  modern technology using  pleasant sorghum as raw materials.

For a  very long time, a large number of  business, including  huge  ventures, have been  proactively engaged in the  r & d of biomass  gas pellet machining waste recycling biofuel industry.

In  backwoods, there are  additionally  options to  throw away gas  and also crop waste. At present,  a lot of crop straws are piled up in front of  as well as behind the farmhouse, which is not only  unhygienic,  however also  presents a  fantastic  security  danger. In the process of  brand-new countryside  building and construction, this  scenario has to  alter,  due to the fact that the street-style new countryside has no  location for stacking straw. Biomass  gas pellet  device manufacturers  advertise the  handling of straw pellet or bundling  via biomass fuel pellet  equipments, which not  just  assists in the storage of straws, but  additionally makes the straws value-added.

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With the  growth of  country  economic climate and the  renovation of farmers' living  criteria, coal  as well as  dissolved gas have  gone into  country  houses. In some  locations, straw is no longer  utilized as  gas. Farmers in many places directly  melted straw in the open air, causing  numerous fires, seriously polluting the  setting  as well as endangering the safety of public  centers.  For instance, the burning smoke  will certainly affect the  regular  navigating of the aircraft and the  typical passage of the road,  as well as it is  additionally a  excellent waste of energy.

wood pellet plant in Indonesia

Governments at all  degrees  release notices  restricting the burning of straw  annually,  however the prohibition is still repeated. Reason: There is no  ideal way out. After the biomass fuel pellet  maker developed by the pellet  equipment manufacturer squeezes the  plant straw, the waste straw is  useful, and farmers will not  toss it away  and even  shed it. The  introduction of biomass fuel pellet  maker is a  good idea for our people's economy  and also  environmental management!

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1. Why is biomass  equipment still  preferred in 2022?

The  increase of the biomass energy  market is  straight related to environmental pollution  and also  power  usage.  In the last few years, coal has been banned in areas with  fast  financial development  as well as  severe environmental pollution,  as well as it is  promoted to replace coal with biomass  gas pellets. This part of the region is relatively  great to invest in the biomass  power industry.

Biomass  gas pellet machines are  additionally  frequently  referred to as straw pellet  devices, wood pellet  makers, sawdust pellet  makers, etc. The pellet  gas raw materials  created by them are  mostly agricultural  as well as forestry wastes, including straw, sawdust, sawdust, straw,  and so on. The pressure of the biomass  gas pellet  equipment is extruded  right into rod-shaped biomass pellet  gas.  Compared to coal, the  rate of biomass pellet fuel is  a lot  reduced. Biomass pellet  gas meets  environmental management  needs  and also is a  brand-new  sort of biomass energy.

The biomass pellet fuel has a  consistent  form,  tiny  quantity and high density, which is convenient for  transport  and also  storage space.

Biomass pellet fuel can be fully  melted,  yet  often coal can not be  completely  shed when its  pureness is not high,  and also cinders will appear.

Taking straw as an  instance, after the straw is  pushed  right into pellet fuel by the biomass fuel pellet  equipment, the combustion  performance is increased from 20% to more than 80%; the  ordinary sulfur content after combustion is only 0.38%, while the average sulfur content of coal is about 1%.  Utilizing biomass pellets as fuel has economic  as well as social  worth.

The biomass pellet fuel produced by the biomass pellet making  equipment does not  consist of harmful chemicals, and the ash is rich in organic matter potassium, which can be  gone back to the  area as fertilizer.

After coal is burned, a  big  quantity of sulfur and phosphorus  substances  and also coal  pollutants will be produced, which  will certainly  contaminate the land  all over, which is not conducive to the  building and construction of environmental protection in my country.

In the future, my country's  power construction will take a  lasting  course  and also promote  making use of  eco-friendly new  power  gas. The future  growth of biomass  gas pellet  equipment  will certainly be  intense, so biomass  gas pellet  maker  will certainly still be very popular in 2022

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2. Japan will import biomass wood pellets in 2022.

According to  information from a report submitted by the USDA Foreign Agricultural  Solution Global Agricultural  Details Network at the end of December 2021, Japan imported  regarding 3 million tons of biomass fuel pellet  maker wood pellets in 2021, up from 2.028 million  bunches in 2021.

According to  records, data  launched by Japan's  Company for Natural Resources  as well as Energy (ANRE)  revealed that by the end of March 2021, 201 woody biomass  nuclear power plant in Japan had  produced about 2,888 megawatts (MW) of electricity.

In 2020, Japan imported about 2.02 million tons of pellet mill wood pellets.  Regarding 58% of them were from Vietnam  as well as 29% from Canada. According to  records, Enviva (the world's  biggest producer of industrial wood pellets)  prepares to export  greater than 3 million  lots of pellet mill  timber pellets  each year to Japan by 2025.

Japan  presently has 135 domestic  timber pellet producers, down from 137 in 2020.  Residential production is  anticipated at 150,000 metric  loads in 2021, up  a little from 149,000  statistics  bunches in 2021.

In addition to  timber pellets, Japan imported about 4.02 million tonnes of palm  bit husks for power generation in 2022, up from 3.396 million tonnes in 2021.

More details:

3. RICHI pellet line and biomass pellet mill  available

As a  sort of biomass energy, the biomass pellet fuel  created by the biomass fuel pellet  device  assembly line has the advantages of high  power  thickness,  tidy  as well as low carbon, renewable resources  as well as broad  source base. It has been  commonly promoted  as well as applied., coping with  environment change,  safeguarding the environment,  advertising agricultural development, etc have made  superior  payments, so the production of biomass pellet  gas by pellet  equipment production line is bound to become an  financially  possible  tidy alternative energy.

The  vast array of uses of biomass fuel  shows its  excellent commercial value  as well as also brings  significant  service  possibilities to investors. The  present market  need can not be  consulted with the current biomass  gas production  ability.  Consequently, the  rate of  gas will not be shaken in a short period of time, and there  will certainly be a  steady market for  purchasing biomass fuel pellet  equipment production line biomass fuel production.

RICHI  equipment has been established for  greater than 25 years, specializing in biomass pellet mill  offer for sale, the  advancement  as well as  manufacturing of single/complete  timber pellet production lines such as  pet feed, biomass fuel, wood waste,  lawn, straw,  natural fertilizer,  and so on, and provide  layout  as well as  solutions for EPC/Turnkey biomass pellet mill  jobs!

For details please contact: Richi Pellet Machine

WhatsApp:86 138 3838 9622
Email:[email protected]

September, 26 2022