Consumption


All posts for Consumption

U.S. natural gas production, consumption, and exports set new records in 2019

Chevron exited Malampaya in November 2019, as part of an asset review to re-focus on shale, selling its 45% stake to local player Phoenix Petroleum that is part of the Udenna conglomerate. The natural candidate to acquire Shell's departing stake would be PNOC, which is already 10% owner of Malamp ...

Hui Shan


Posted 24 days agoLink > ProductionsupplyConsumption +7

Fossil fuels account for the largest share of U.S. energy production and consumption

Aramco is still 98% owned by the Saudi government, and the federal coffers, which run everything from the national airline to plans to open up for official tourism are dependent on the dividends that Aramco pays. With dry season in the oil and gas world setting in, some of these projects must now ...

Hui Shan


Posted 1 month agoLink > ProductionsupplyConsumption +12

SHORT-TERM ENERGY OUTLOOK

It is, obviously, unsurprising that the recently released Q2 financials for the oil & gas supermajors contained distressed numbers as the first full quarter of Covid-19 impact washed over the entire industry. To make this change, Looney is looking to shrink BP's oil and gas output by 40% through ...

Hui Shan


Posted 2 months agoLink > STEOForecastCovid 19 +14

TODAY IN ENERGY: Drop in petroleum demand led to rise in crude oil inventories and low refinery utilization

Either way, this has thrown a spanner in the works of the giant, multi-billion oil and gas projects that were announced over the past two years as the energy world began to wake up from its post-2015 price crash investment hibernation. Further impairments were made in April 2020 when the Q1 finan ...

Hui Shan


Posted 3 months agoLink > ConsumptionDemandLiquid Fuels +6

EIA expects record liquid fuels inventory builds in early 2020, followed by draws

In the same year, the US leapfrogged Malaysia as the third largest LNG exporter in the world, and by 2025, its LNG production capacity could reach almost 15 bcf/d – eclipsing both Qatar and Australia. With its recent moves to tap into the vast natural gas resources in its offshore North Field and ...

Hui Shan


Posted 5 months agoLink > ProductionsupplyConsumption +8

COVID-19 mitigation efforts result in the lowest U.S. petroleum consumption in decades

The U.S. Energy Information Administration (EIA) estimates the decline in petroleum product demand by examining the changes in total product supplied, EIA's proxy for consumption. In the week ending April 3, total U.S. product supplied of petroleum products fell by 3.4 million b/d, the largest we ...

Hui Shan


Posted 6 months agoLink > ConsumptionDemandLiquid Fuels +3

Natural gas prices fall to lowest level since 2016, the lowest February prices in 20 years

Dry natural gas production in January 2020 averaged about 95.0 billion cubic feet per day (Bcf/d), according to IHS Markit data. IHS Markit also estimates that in January 2020 the United States saw the third-highest monthly U.S. natural gas production on record, down slightly from the previous tw ...

Hui Shan


Posted 8 months agoLink > supplyProductionsupply +8

This Week in Petroleum: Crude oil prices in 2019 were generally lower than in 2018

These narrow trading ranges occurred as a result of offsetting upward and downward price pressures, despite the largest single-day price increase since 2008, which followed the September attacks on Saudi Arabia's crude oil production and processing infrastructure. In 2019, several factors, includ ...

Hui Shan


Posted 9 months agoLink > ConsumptionDemandCrude oil +6

EIA projects energy consumption in air transportation to increase through 2050

Despite oil and oil-equivalent production rising by 3% (driven by shale liquids production in the Permian), the fall was largely due to lower crude prices. BP's net profit fell 39.7% - beating expectations on lower upstream earnings and weaker oil prices. Quarterly profits were down by 15%, with ...

Hui Shan


Posted 11 months agoLink > ConsumptionDemandLiquid Fuels +2

EIA projects that natural gas consumption in Asia will continue to outpace supply

According to the U.S. Energy Information Administration's (EIA) latest International Energy Outlook 2019 (IEO2019) Reference case, future growth in natural gas consumption is concentrated in developing nations—those outside of the Organization for Economic Cooperation and Development (OECD)—especi ...

Hui Shan


Posted 1 year agoLink > ConsumptionDemandInternational +5

China adds incentives for domestic natural gas production as imports increase

Natural gas production has recently grown in China largely because of increased development in low-permeability formations in the form of tight gas, shale gas, and to a lesser extent, coalbed methane. In June 2019, the Chinese government introduced a subsidy program that established new incentive ...

Hui Shan


Posted 1 year agoLink > ProductionsupplyConsumption +9

Global energy consumption driven by more electricity in residential, commercial buildings

In countries that are not part of the Organization for Economic Cooperation and Development (non-OECD countries), EIA projects that energy consumed in buildings will grow by more than 2% per year, or about five times the rate of OECD countries. As the quality of life in emerging economies improve ...

Hui Shan


Posted 1 year agoLink > residentialCommercialConsumption +6

EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia

World industrial sector energy use increases by more than 30% between 2018 and 2050 as consumption of goods increases. This increase is largely driven by non-OECD countries, where transportation energy consumption increases nearly 80% between 2018 and 2050. Worldwide renewable energy consumption ...

Hui Shan


Posted 1 year agoLink > ConsumptionDemandIEO +2

The nonmetallic minerals industry is one of the world’s top energy users

In the industrial sector, the nonmetallic minerals industry is one of the largest energy users, accounting for 10% of global industrial sector energy use. The energy intensity of the nonmetallic minerals industry—energy consumed per unit of gross output—is higher than many other industries. By c ...

Hui Shan


Posted 1 year agoLink > DemandConsumptionIndustrial

This Week in Petroleum: EIA forecasts moderate inventory builds in 2020 and lowers crude oil price forecast

In the August 2019 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts relatively flat crude oil prices for the remainder of 2019 and through 2020 and a balanced global oil market in 2019 followed by modest inventory builds in 2020 as production growth outp ...

Hui Shan


Posted 1 year agoLink > ConsumptionDemandprices +5