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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According to the United States Energy Information Administration (EIA), US renewable power generation achieved a new record of 742 TWh in 2018, which is almost twice the amount of 382 TWh produced in 2008. In total, renewables provided 17.6% of the US power generation in 2018 and 90% of the increase over the 2008-2018 period came from wind and solar power plants, since conventional hydroelectric capacity remained relatively stable (+2% since 2008, reaching 292 TWh in 2018, i.e. 6.9% of the US power mix).
Iran has officially inaugurated four new phases of the South Pars offshore gas field, i.e. phases 13, 22, 23 and 24. A total of US$11bn were invested in the four mega projects, which will add 56 mcm/d of gas, 75,000 bbl/d of gas condensate and 400 t/d of sulfur and will enable to produce 1 Mt/year of ethane and 1 Mt/year of propane and butane.
According to the US Energy Information Administration (EIA), the US natural gas production reached new highs in 2018, increasing by 11%. Gas production measured as marketed production and dry natural gas production have also reached new highs. As expected, gas exports also increased by 14% to 102 bcm, with LNG exports surging by 53%. The United States continued to be a net gas exporter in 2018, as in 2017 when the country exported more gas than it imported for the first time in nearly 60 years.
Russian state-owned gas group Gazprom produced nearly 498 bcm (+5.7%) of natural gas in 2018. The third gas production facility at Bovanenkovskoye, the main field in the Yamal Peninsula with gas reserves totalling 4,900 bcm, went onstrem in 2018 and reached its design production capacity of 115 bcm (production capacity of 317 mcm/d in winter).