New decline in refined product output in Venezuela in 2017.
As in 2016, the 2017 growth was driven by Asia – China and India accounted for more than 60% of the increase in refined oil products production – and by the Middle-East, especially Saudi Arabia and Iran. Production also rose in South Korea (dynamic demand) but contracted in Japan (declining oil product consumption).
In the United States, the largest producer of petroleum product worldwide, oil product production rose for the fifth year in a row and reached a record in 2017. It also grew in Canada, but fell in Mexico and Venezuela, where crude oil production contracted.
Production remained stable in Russia.
Petroleum product production rebounded in the European Union, in line with rising consumption, despite recent refinery closures over the past years in Europe combined with the willingness of Middle East countries to refine crude oil locally and low refining costs in North America.
Based on its 2017 data for G20 countries, Enerdata analyses the trends in the world energy markets.Download the publication
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The first turbine of Ørsted's 1,218 MW Hornsea One offshore wind project in the North Sea (United Kingdom) has been commissioned and it has started to deliver power to the British domestic grid. The project broke ground in fourth quarter of 2017 and the export cable system was installed in December 2018, a few months ahead of schedule. The full commissioning of the wind park is currently expected for 2020.
The Ministry of Energy and Mineral Development of Uganda has delayed the startup of domestic oil production by one year until 2022. The country discovered its crude reserves more than 10 years ago but the production has been repeatedly delayed by disagreements with field operators over taxes and the development process. Besides, the lack of existing transportation pipelines and refining infrastructure also played a significant role in holding up the country's projects.
According to Eurostat, the share of renewables in the European Union's (EU) gross final energy consumption hiked to 17.5% in 2017, up from 17% in 2016, which is more than twice the 2004 share of 8.5%. Compared with the previous year, it increased in 19 of the 28 Member States.
The Saudi Arabian government has outlined plans to reduce the domestic crude oil production to approximately 9.8 mb/d in March 2019, which is over 0.5 mb/d below its pledged production level of 10.3 mb/d agreed under the latest global supply cutting agreement between OPEC and non-OPEC producers. Besides, Saudi oil exports are slated to follow the same trend and will decrease to 6.9 mb/d.