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 Italian oil and gas company Eni has signed a cooperation agreement with its Algerian counterpart Sonatrach to tap hydrocarbon resources in the Berkine basin (Algeria). Besides, they also agreed the commercial conditions for the 2018-2019 year in line with the gas market and have started negotiation to look into extending the gas supply shipped from Algeria to Italy beyond the contractual deadline of 2019.
The infrastructure company TransCanada has commissioned the US$1.2bn Topolobampo natural gas pipeline project in northern Mexico, which will ship 670 mcf/d (19 mcm/d or 6.9 bcm/year) to local markets in the states of Chihuahua and Sinaloa.
According to the state-run company Gazprom, exports of Russian gas to non-CIS (Community of Independent States) countries went up by 5.8% between January and June 2018 to reach 108.9 bcm. The largest hikes were reported in Germany (+12.2% or + 3.5 bcm), Austria (+52.3% or + 2.1 bcm), the Netherlands (+61.9% or +1.4 bcm), France (+12.5% or 0.8 bcm), Croatia (+45%, +0.6 bcm) and Poland (+6.7%).
The Indian Directorate General of Trade Remedies (DGTR) has recommended the implementation of a 25% safeguard importation duty on solar cell imports from China and Malaysia for a 2-year period. The proposal has not yet been approved by the government and the duty will start at 25% in the first year, then be reduced to 20% for the first six months of the second year and to 15% in the final six month period. The proposal is very similar to the safeguard duty levied by the United States in January 2018, which set up anti-dumping tariffs on imported solar cells and modules at 30% during the first year and then gradually declining to 15% after a 4-year period.