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I have just finished US Petcoke Production prelim values on 2010 which totals ~38.9 MM mtpy from monthly totals since annual hasn’t been posted yet (still some small changes value likely) but it’s yet another year at/near 2004 level of 39 MM mtpy despite lot capacity addition/debottlenecking cokers.
Also US exports continue grow (~29.6 MM mpty) as %percentage even though totals remain at low production/utilization …… which mean less is consumed by US Domestic Petcoke customers. And I notice shift in production out Padd 1 and into Padd 3 with temp S/D of EC cokers & startup new GC cokers.
And I have finished the 2010 Power use petcoke values which shows that Utilities are up but both IPP & Industrial are down – none use levels are at Petcoke peaks in 2004/2005…..which is also why exports are up.
The Utility use petcoke was up for 2010 (still below 2004-5 numbers) but IPP use was lowest since 1993 and Industrial use was lowest use …… ever. I was surprised at increase in Utility use considering prices but then both US coal & petcoke are bargain compared to global delivered prices. However producers & marketers should take lack domestic use in mind as they price this years petcoke since some padds like Padd 3 are exporting nearly 80% its production volumes (75% exports overall US production).
But still makes no sense compared to NG prices (@$3.4-4.2/MMBTU) and keep expecting see larger shift to it by more Utility companies from coal to gas plants – in which case Petcoke domestic use goes FUBAR.
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