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
Access to the most comprehensive and up-to-date database on energy supply, demand, prices and GHG emissions (186 countries).Free trial
The 600 MW first turbine of the 3,600 MW Rogun (also spelled Roghun) hydropower dam on the Vakhsh River in southern Tajikistan has started operations. The US$3.9bn project is being built gradually by the Italian company Salini Impregilo and the remaining turbines will come online between 2019 and 2026. Once built, it will enable Tajikistan to end domestic power shortages and to export electricity to Afghanistan and Pakistan.
The Iraqi government has resumed oil exports from the Kirkuk oil fields one year after the city was seized by federal forces from the autonomous Kurdish administration over dispute about oil payments, revenues and pipeline fees. An agreement has been reached with the Kurdish Regional Government (KRG) to export 50,000 bbl/d to 100,000 bbl/d through a pipeline running through the Kurdish territory to Turkey. The revenue from the renewed exports will be collected by the federal government of Iraq.
US-based project company Cheniere Energy has started to produce LNG at the first 4.5 Mt/year train of its US$15bn Corpus Christi liquefaction and export terminal project in Texas (United States) and the facility is on its way to ship its first-ever cargo. The 170,000 m3 floating storage and regasification unit (FSRU) Golar Tundra has arrived at the facility and will depart with the first shipment shortly.
Emirati state-run oil and gas company Abu Dhabi National Oil Company (ADNOC) has unveiled plans to invest AED5.1bn (US$1.4bn) to upgrade the operations of the Bu Hasa onshore oil field (United Arab Emirates) from 550,000 bbl/d up to 650,000 bbl/d by the end of 2020 as per its 2030 smart growth strategy.