Crude oil production

Sluggish crude oil production growth in 2016 (0.8%) amid low price environment

Breakdown by country (Mt)

World

-3.2%

First drop in US crude oil production since 2008.

Sluggish crude oil production growth in 2016 (0.8%) amid low price environment

World crude oil production increased slowly because of low international oil prices and several years of low capital investments in the upstream sector.
Crude oil production has been driven upward mainly by Middle East producers, of which Saudi Arabia accounted for most of the rise, and Russia that both rely on oil revenues to support their economic development.
Iran’s production jumped by an impressive 16% as a result of the lifting of international sanctions.
Conversely, low investment over the two past years in the USA impacted shale oil development, (which previously helped drive low international oil prices), has led to lower production levels. Oil production also dipped in China as well due to the oil price environment.
Venezuela’s crude oil output plunged to its lowest level since 2009 due to the domestic economic and social crisis, while Mexico's production has continued to fall and reached its lowest level since 1980.
Nigerian oil output dipped due to attacks on infrastructure within the country.

Global Energy Trends, 2017 edition

Based on its 2016 data for G20 countries, Enerdata analyses the trends in the world energy markets.

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22
Feb

EDF will purchase 1.2 Mt/year of LNG from Anadarko (Mozambique)

The petroleum company Anadarko Petroleum has signed a long-term LNG sales and purchase agreement with the French power utility EDF through its Mozambique LNG project (MLNG) and its subsidiary Mozambique LNG1 Company. According to the off-take deal, MLNG will supply 1.2 Mt/year of LNG to EDF over a 15-year period.

20
Feb

Delek Drilling (Israel) signs a 64 bcm gas contract with Egypt

The Israeli exploration and production company Delek Drilling (a subsidiary of Delek Group) has signed two gas supply deals of US$7.5bn each with the Egyptian company Dolphinus Holdings for around 64 bcm of gas export to Egypt.

19
Feb

US coal prices and production have increased throughout 2017

According to the United States Energy Information Administration (EIA), the US coal production is expected to have increased to 773 Mt (million short tons) in 2017 (+6.2%, the highest annual growth since 2001). Coal production was higher in each of the five major coal regions. The largest production increase took place in the Powder River basin in Wyoming and Montana (+8% up to 26 Mt).

16
Feb

EWE will cut gas imports from Groningen field by 1.7 bcm (Netherlands)

The German power company EWE plans to reduce its use of gas from the gas Groningen field (Netherlands) by 1.7 bcm/year and will instead convert high-calorific Russian or Norwegian gas (H-gas) to the low-calorific gas (L-gas) required for its infrastructures.