Global trade in liquefied natural gas continued to grow in 2023

Liquefied natural gas (LNG) trade increased 3.1% globally in 2023 to average 52.9 billion cubic feet per day (Bcf/d), an increase of 1.6 Bcf/d from 2022, according to a recently released report from the International Group of Liquefied Natural Gas Importers (GIIGNL). Expanded export and import capacity and increasing…

West Coast summer refinery margins decline despite reduced capacity

This spring, California refinery crack spreads for gasoline and diesel dipped below average despite shrinking refinery capacity on the West Coast (PADD 5). Crack spreads are the difference between refined product prices and an equivalent volume of crude oil. We use them as a measure to estimate refinery margins…