Breakdown by country (Mt)

World

-2.7%

Decline of oil product consumption in Latin America for the fifth year in a row over reduced production and sanctions in Venezuela.

Slowdown in global demand growth for oil products (+0.3%), due to a lower demand in the USA

The global oil product consumption grew in 2019 at a much slower rate than over the 2000-2018 period (+0.3% vs. +1%/year), due to a slowdown in industrial activity and to warmer than average winter temperatures in the northern hemisphere. Oil product consumption decreased by 0.5% in the USA, the largest consumer worldwide, due to a lower demand from industry and the petrochemical sector (delays in projects), and to diminishing car sales to a lesser extent. It also declined in Japan (-4.1% over reduced needs for heating), in Latin America (-12% in Venezuela over US sanctions, -4.5% in Mexico and -1.3% in Brazil), as well as in the Middle East and Africa, due to rising fuel prices.
Oil products consumption rose in Asia, led by China (+6.6% with new refinery commissioning), Indonesia (+6.6%) and India (+2.9%), and to a lesser extent in the CIS (+1.2%) and the EU (+0.7%), including +2.1% in Germany, where demand from industry and transport increased.

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25
Jan

Japan's crude oil imports fell by 16% to 2.5 mb/d in 2020

According to the Ministry of Finance of Japan, crude oil imports decreased by 16% to 2.5 mb/d in 2020. They came mostly from the Middle East (90%). However, petroleum products imports, which were supplied by the Middle East (48%) and Asia (29%), rose by 11%. The country imported only 74.5 Mt of LNG in 2020 (-3.7%), from Asia (23%) and the Middle East (16%). Coal imports dropped by almost 7% to 174 Mt and were supplied from Asia (17%) and Russia (13%).

25
Jan

Angola's oil production declined by 15% in 2020 to 1.3 mb/d

According to Angola’s National Oil and Gas Agency, the country’s oil production declined by 15% to 1.3 mb/d in 2020. Gas production reached 31 bcm in 2020 (85 mcm/d). Almost 5% of the natural gas production was flared in 2020. In 2020, over 61% of the total oil production came from deep water projects (20% from ultra-deep water and 17% from shallow waters). The blocks 17 and 32, operated by Total's Angolan affiliate TEPA, accounted for 46% of the country’s oil production and for nearly 23% of the gas production, while the Chevron-operated blocks 0 and 14 accounted for 19% of the total oil production and for nearly 45% of the domestic gas production.

22
Jan

China added 120 GW of new wind and solar capacity in 2020

According to the National Energy Administration (NEA), China added nearly 72 GW of wind power capacity and 48 GW of solar capacity in 2020. The growth in wind capacity additions accelerated in 2020 - from 26 GW added in 2019 - and exceeded 2019 global wind capacity additions by 12 GW. Part of this increase was linked to an earlier announcement of China ending subsidies for new onshore wind projects as of 2021. As well, solar capacity additions recovered after two years of slowdown (+44 GW in 2018 and +30 GW in 2019). Hydropower capacity increased by 13 GW in 2020. At the end of 2020, China had 282 GW of wind capacity and 253 GW of solar capacity. The country intends to increase its installed wind and solar capacity to 1,200 GW in 2030.

21
Jan

Indonesia expects gasoline imports to rise by 54% in 2021

According to the Ministry of Energy of Indonesia, gasoline imports are expected to increase by 54% to 140 mbl, up from 91 mbl in 2020 and exceeding the pre-pandemic import level of 119 mbl in 2019. In addition, Indonesia’s gasoline sales should reach 233 mbl in 2021 (+32% compared to the 176 mbl level of 2020), while domestic gasoline production should increase by 9% from 86 mbl in 2020 to 94 mbl in 2021, close to its 2019 levels.

Indonesia is the largest importer of gasoline in Asia, and the fourth largest worldwide after the United States, Mexico and Nigeria (2019).


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