Crude oil production
Sluggish crude oil production growth in 2016 (0.8%) amid low price environment
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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Oct
CNPC commissions a 1.8 bcm/year long gas pipeline connecting Shanghai (China)
China National Petroleum Corporation (CNPC) has started to operate the third natural gas pipeline connecting Shanghai. The 88-km long facility connects Shanghai’s Chongming island with the Rudong coastal LNG terminal (Jiangshu province, China). It has an annual capacity of 1.84 bcm/year and is expected to meet Shanghai's growing demand.
12
Oct
Kazakhstan will supply uranium to new Chinese nuclear plants starting from 2019
Kazakhstan's Ministry of Energy announced that it will begin to supply uranium to five Chinese nuclear plants starting from 2019 onwards. The facilities are currently under construction and will be supplied with uranium fuel from Kazakhstan. The country is a key uranium producer, with around 40% of the worldwide production and 12% of the uranium reserves, ahead of Canada and Australia. The state-run company KazAtomProm has reduced the level of its uranium production by 10% for 2017 due to a 47% drop in world uranium prices at the beginning of the year.
10
Oct
Chevron's Wheatstone LNG first train comes onstream (Australia)
Chevron has started to produce LNG at the Wheatstone project (12 km west of Onslow, in the Pilbara region of Western Australia). The first liquefaction train is now operational while the second train is scheduled to start production between March and May 2018. Chevron intends to send the first LNG shipment in a few weeks.
04
Oct
Chubu Electric's 1.2 GW Nishi Nagoya 7-1 achieved commercial operation (Japan)
Chubu Electric Power reported that the 1,188 MW Nishi Nagoya 7-1 gas-fired power generation unit has achieved commercial operation. General Electric (GE) was awarded the engineering, procurement and construction (EPC) and delivered six 7HA gas turbines.
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