Market Report Series Oil 2018

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Market Report Series Oil 2018"

Transcription

1 Market Report Series Oil 218 Norwegian Ministry of Energy, 17 April 218 Neil Atkinson, Head of Oil Industry and Markets Division Toril Bosoni, Senior Oil Market Analyst, Oil Industry and Markets Division

2 Robust global oil demand growth to World oil demand growth (y-o-y change) Rest of the world India China China and India account for almost half of world oil demand growth

3 China use of alternative fuels displacing oil Vehicles Gasoline displacement kb/d China NGVs China Evs Gasoline displaced (Right) Vehicles Diesel displacement kb/d LNG trucks Electric buses Diesel displaced (Right) times less buses and trucks having 4 times more impact than Electric cars and NGVs

4 Petrochemicals drive global oil demand growth to 223 Feedstock requirements for new steam crackers 7 kb/d Naphtha Ethane 1 US China Russia Others Petrochemical feedstocks (ethane and naphtha) responsible for 25% of global oil demand growth

5 Oil demand growth by product Oil demand growth by product And fuel oil breakdown (y-o-y changes) LPG & ethane Naphtha Motor gasoline Jet fuel & kerosene Gasoil/diesel Residual fuel oil Other products Total products LPG & ethane + naphtha + gasoline Jet fuel & kerosene + other products Gasoil/diesel Inland FO New bunker ULSFO Bunker HSFO Total products Very large shift in demand in 22 and following adjustments reflect IMO induced switch

6 Only limited uptick in global upstream spending Global oil and gas upstream capital spending USD billion -25% -26% * *Preliminary based on selection of investment updates Producers spend more on short cycle supply, especially US LTO. Investments in conventional fields remain depressed, but some signs of renewed interest in offshore.

7 With tight budgets, spending geared to short-cycle oil Selected observed decline rates 12% Global 15% Offshore/Onshore 2% Key countries 1% 8% 1% 15% 6% 1% 4% 2% 5% 5% % % % World Non-OPEC OPEC Offshore Onshore Russia Norway Brazil Modest capex/opex injections can in many cases bring rapid results in terms of output.

8 Oil industry needs to replace one North Sea each year. Output loss from post-peak conventional crude oil fields -1. OPEC Non-OPEC Ageing oil fields lose more than 3 per year despite slowing decline rates.

9 US Brazil Canada Iraq Iran Norway Colombia Indonesia China Mexico Angola Venezuela Booming non-opec supply growth reshapes world oil market Changes in global oil supply capacity more than covers demand growth for next three years. By 223, non-opec supply grows by 5.2. OPEC oil capacity rises only 1.2 due to Venezuelan collapse and limited increases elsewhere.

10 Higher oil prices unleash second wave of US supply LTO Gulf of Mexico NGLs Alaska Other Total output reaches 17 by 223 and could be even higher if prices rise.

11 Jury out on US LTO potential in the longer term Wellhead break-even by play USD/bbl Permian Midland Permian Delaware Niobrara Eagle Ford Bakken Other LTO production by play Break-even prices moving higher, along with rising costs and lower productivity in some areas.

12 Supply growth front loaded, and restricted to LTO, other supply Global liquids capacity growth Global oil supply capacity growth Non-OPEC OPEC OPEC Non-OPEC Total Biofuels Proc. gains Non-conv NGLs LTO Crude Global But will this be rolled-over? Projects sanctioned today tend to have shorter lead-time.

13 Brazil, second largest source of supply growth to Onshore Campos Basin Santos Basin Other crude NGLs Pre-salt increase offset declines in the onshore and Campos basin. Output up 1, to 3.75.

14 Canadian oil pipelines stretched to the limit kb/d Keystone XL Trans Mountain Keystone Rangeland/Milk River Spectra Express Mainline Oil available for export Takeaway capacity to remain insufficient until 221, forcing increase in rail exports.

15 US pipeline bottlenecks ease, export capacity more than doubles, Expected Texas pipeline deficit 5,1 US crude export capacity 4,6,1 4,1,2 3,6 3,1,3 2,6 2,1, , New pipeline projects (Permian Express, EPIC) ease constraints. US export capacity rises to 4.9 by 223. Corpus Christi solidifies position as largest US export hub.

16 US oil finds new markets Low-sulphur and petchem feedstocks US LTO first wave Low-sulphur, low residue feedstocks US LTO second wave Refiners in Asia and Europe look for suitable crude oil to produce petrochemical feedstocks and low-sulphur fuels

17 North Sea renaissance as development costs drop by half North Sea oil supply kb/d Norway UK Offshore Other North Sea annual change Number of projects sanctioned over past few years will lift supply to highest since 21.

18 What s in store for Russia s oil production future? Next generation oil projects (shale, Arctic, deepwater) require considerable financial support and advanced technologies, face considerable sanctions risk Domestic factors: tax and sector reform, increased horizontal drilling, import substitution Overseas factors: diversification, hedging with overseas reserve replacement Russia oil supply Brownfields Greenfields NGLs Source: IEA Market Report Series: Oil 218

19 Asian oil supply downtrend continues Asian oil supply Asia supply: Annual change kb/d China India Indonesia Malaysia Thailand Vietnam Australia Others Declines ease as spending picks up modestly. Crude declines offset by CTL output in China.

20 China net crude oil imports double the US in 223 Net crude oil imports US China India Indian imports, too, surpass the US in 223 as shale growth reduces US import dependence.

21 Spare capacity cushion shrinks to lowest level since 27 4, Global Oil Market Balance 36, 32, 28, 24, 2, OPEC Crude Capacity Call on OPEC Crude + Stock Ch. Supply/demand tighter at the end of the forecast

22 Key uncertainties Demand substitution, price subsidies/taxes OPEC/Non-OPEC production management Prices US LTO potential, midstream bottlenecks Investment strategies going forward, dividend strategies, interest rates Cost inflation Geopolitical risk/sanctions/trade

23 Conclusions Robust world oil demand growth to 223 driven mainly by petrochemicals. Non-OPEC output growth exceeds demand increase through 22. US, Brazil, Canada, Norway dominate growth. New infrastructure investments relieve US export bottlenecks. US crude finds new markets as refiners seek light, low sulphur crude to meet petrochemical demand and IMO specifications. More upstream investment needed today to meet future demand and offset 3 of declines from mature oil fields each year. As spare capacity cushion shrinks, supply security concerns remain critical.

24

The Global Downstream Market

The Global Downstream Market The Global Downstream Market ANIMP Add. 2 1 The global picture The market is a challenging one for many refiners, but the picture is varied, region by region Significant capacity expansion is expected

More information

SHALE-ADVANTAGED CHEMICAL INDUSTRY INVESTMENT

SHALE-ADVANTAGED CHEMICAL INDUSTRY INVESTMENT 9 April 2013 SHALE-ADVANTAGED CHEMICAL INDUSTRY INVESTMENT Martha Gilchrist Moore Sr. Director, Policy Analysis and Economics Shale Gas Shale gas is possibly the most important energy development in the

More information

Global Downstream Petroleum Outlook

Global Downstream Petroleum Outlook Global Downstream Petroleum Outlook Claude Mandil Executive Director International Energy Agency 3 rd OPEC International Seminar Vienna, 12 September 26 Spare Refinery Capacity Has Tightened 9 1% 85 95%

More information

Precios del Petróleo, la OPEP y los Mercados

Precios del Petróleo, la OPEP y los Mercados Precios del Petróleo, la OPEP y los Mercados Javier Díaz Manager, Energy Analysis & Consulting S&P Global Platts August 23, 2017 X Feria y Congreso International BOLIVIA GAS & ENERGIA 2017 Key Themes in

More information

FISCAL YEAR MARCH 2018 THIRD QUARTER FINANCIAL RESULTS

FISCAL YEAR MARCH 2018 THIRD QUARTER FINANCIAL RESULTS FISCAL YEAR MARCH 2018 THIRD QUARTER FINANCIAL RESULTS PRESENTATION OUTLINE Highlights Fiscal Year March 2018 Nine Month Results Fiscal Year March 2018 Full Year Forecast Progress of Key Initiatives 1

More information

Implications of the U.S. Shale Revolution

Implications of the U.S. Shale Revolution Implications of the U.S. Shale Revolution For October 17, 214 Chicago, Illinois By Adam Sieminski, Administrator U.S. Energy Information Administration U.S. Energy Information Administration Independent

More information

COMPETITION FOR FOREIGN INVESTMENT IN E&P IN LATIN AMERICA

COMPETITION FOR FOREIGN INVESTMENT IN E&P IN LATIN AMERICA COMPETITION FOR FOREIGN INVESTMENT IN E&P IN LATIN AMERICA Prof. Edmar de Almeida Energy Economics Group Institute of Economics Federal University of Rio de Janeiro Workshop The Changing Global Energy

More information

US Crude Oil Reshaping International Crude Oil Flows. Olivier Jakob,

US Crude Oil Reshaping International Crude Oil Flows. Olivier Jakob, US Crude Oil Reshaping International Crude Oil Flows Olivier Jakob, ojakob@petromatrix.com www.petromatrix.com Claimer Petromatrix publishes since 2006 a daily market note on the oil markets Our reports

More information

Like a Box of Chocolates The Condensate Dilemma. 3rd Annual NGLs Forum

Like a Box of Chocolates The Condensate Dilemma. 3rd Annual NGLs Forum Like a Box of Chocolates The Condensate Dilemma 3rd Annual NGLs Forum E. Russell Braziel RBN Energy, LLC September 23, 2013 Tsunami of Condensates Mb/d 1,600 1,400 1,200 1,000 800 600 400 200 0» Historically

More information

Downstream Petroleum Sector The Growing Prominence of Asian Refining

Downstream Petroleum Sector The Growing Prominence of Asian Refining Downstream Petroleum Sector The Growing Prominence of Asian Refining Mr. Fahad Al-Dihani Deputy CEO,MAA Refinery, Kuwait National Petroleum Company-Kuwait Outline.. Global refining trends Kuwait s Position

More information

Global transport outlook to 2050 Targets and scenarios for a low-carbon transport sector

Global transport outlook to 2050 Targets and scenarios for a low-carbon transport sector OECD/IEA 2012 Global transport outlook to 2050 Targets and scenarios for a low-carbon transport sector John Dulac Energy Analyst, Energy Technology Policy Division International Energy Agency Content IEA

More information

Defining the Debate: Crude Oil Exports

Defining the Debate: Crude Oil Exports Defining the Debate: Crude Oil Exports Trisha Curtis, Director of Research Upstream and Midstream Energy Policy Research Foundation, Inc. (EPRINC) Brookings Task Force February 28th, 214 About EPRINC www.eprinc.org

More information

Downstream & Chemicals

Downstream & Chemicals Downstream & Chemicals Pierre Breber Executive Vice President 017 Chevron Corporation Downstream portfolio Fuels refining & marketing Integrated value chains Lubricants & additives Globally positioned

More information

Downstream & Chemicals

Downstream & Chemicals Downstream & Chemicals Pierre Breber Executive Vice President Profitable downstream & chemicals portfolio Fuels refining & marketing Focused, regional optimization Petrochemicals Advantaged feed, scale

More information

U.S. Rail Crude Oil Traffic

U.S. Rail Crude Oil Traffic U.S. Rail Crude Oil Traffic Association of American Railroads May 217 Summary U.S. crude oil production has risen sharply in recent years, with much of the increased output moving by rail. In 28, U.S.

More information

CHEMSYSTEMS. Report Abstract. Petrochemical Market Dynamics Feedstocks

CHEMSYSTEMS. Report Abstract. Petrochemical Market Dynamics Feedstocks CHEMSYSTEMS PPE PROGRAM Report Abstract Petrochemical Market Dynamics Feedstocks Petrochemical feedstocks industry overview, crude oil, natural gas, coal, biological hydrocarbons, olefins, aromatics, methane

More information

KEROSENE JET FUEL. Morten Simonsen. Vestlandsforsking,

KEROSENE JET FUEL. Morten Simonsen. Vestlandsforsking, KEROSENE JET FUEL Morten Simonsen Vestlandsforsking, 19 October 2009 1 Content Introduction... 3 Crude oil extraction methods... 3 Production of kerosene... 5 Consumption of kerosene in China... 11 Raffinerie\Öl-Produkte-CN...

More information

Latest Update. OMR 14 Nov 2013

Latest Update. OMR 14 Nov 2013 Latest Update OMR 14 Nov 2013 Prices $/bbl 120 115 110 105 100 95 90 85 Oil Prices Hit Four Month Lows WTI Downturn Far Outpaced Brent Losses Crude Futures Front Month Close 80 Oct 12 Jan 13 Apr 13 Jul

More information

FISCAL YEAR MARCH 2018 FIRST HALF FINANCIAL RESULTS

FISCAL YEAR MARCH 2018 FIRST HALF FINANCIAL RESULTS FISCAL YEAR MARCH 2018 FIRST HALF FINANCIAL RESULTS PRESENTATION OUTLINE Highlights Fiscal Year March 2018 First Half Results Fiscal Year March 2018 Full Year Forecast Progress of Key Initiatives/ Business

More information

NGLs and Feedstock Market Overview

NGLs and Feedstock Market Overview NGLs and Feedstock Market Overview Platts Inaugural Petrochemical Seminar Kelly Van Hull Manager Energy Analytics Processing & Fractionation Additions 45 129 1778 1845 553 232 6 4 17 695 * Expansions Through

More information

Global Oil Exports: Smooth Sailing Or Midnight on the Titanic?

Global Oil Exports: Smooth Sailing Or Midnight on the Titanic? Global Oil Exports: Smooth Sailing Or Midnight on the Titanic? Jeffrey J. Brown; Samuel Foucher, PhD; Tiger Craft*, Fortress Investment Group April 26, 2012 * All views are those of the authors, and Fortress

More information

Sulphur Market Outlook

Sulphur Market Outlook Sulphur Market Outlook The Outlook for the future Supply and Balance of the Global Sulphur Market Joanne Peacock, CRU International/BSC Creon Moscow December 2009 LONDON RALEIGH WASHINGTON MINNEAPOLIS

More information

UK Continental Shelf (UKCS) Oil and Gas Production and the UK Economy. Mike Earp

UK Continental Shelf (UKCS) Oil and Gas Production and the UK Economy. Mike Earp UK Continental Shelf (UKCS) Oil and Gas Production and the UK Economy Mike Earp 15 June 215 Outline Production and Reserves Expenditure, Income and Taxation Gross Value Added Trade Recent Production History

More information

FISCAL YEAR MARCH 2018 FIRST QUARTER FINANCIAL RESULTS

FISCAL YEAR MARCH 2018 FIRST QUARTER FINANCIAL RESULTS FISCAL YEAR MARCH 2018 FIRST QUARTER FINANCIAL RESULTS PRESENTATION OUTLINE Highlights Fiscal Year March 2018 First Quarter Results Fiscal Year March 2018 Full Year Forecast Structural Reform Stage 2 Progress

More information

Bunkers - pricing outlook

Bunkers - pricing outlook Bunkers - pricing outlook Robin Meech Marine and Energy Consulting Limited London Rmeech@RobinMeech.com 1 Marine and Energy Consulting Limited (MECL) was established 12 years ago Consulting Services Ship

More information

U.S. Crude Exports and Impact on Trade

U.S. Crude Exports and Impact on Trade U.S. Crude Exports and Impact on Trade 32 nd Annual Asia Pacific Petroleum Conference Dr. Helen Currie Senior Economist September 7, 2016 Cautionary Statement The following presentation includes forward-looking

More information

THE ELECTRIC VEHICLE REVOLUTION AND ITS IMPACT ON PEAK OIL DEMAND

THE ELECTRIC VEHICLE REVOLUTION AND ITS IMPACT ON PEAK OIL DEMAND THE ELECTRIC VEHICLE REVOLUTION AND ITS IMPACT ON PEAK OIL DEMAND INDONESIAN GAS SOCIETY JAKARTA 20 TH NOVEMBER JUNE 2016 - SELECTED SLIDES JON FREDRIK MÜLLER PARTNER HEAD OF CONSULTING ASIA-PACIFIC When

More information

IEA Refinery Outlook European Recovery in Sight?

IEA Refinery Outlook European Recovery in Sight? IEA Refinery Outlook European Recovery in Sight? Platts 6 th Annual European Refining Markets Conference Brussels, 24-25 September 2012 Toril Bosoni, International Energy Agency Subdued Global Oil Demand

More information

TPI. Truck Production Index. 2nd Quarter Power Systems Research Global Truck Production Index (PSR-TPI) jumps 14.3%, QOQ.

TPI. Truck Production Index. 2nd Quarter Power Systems Research Global Truck Production Index (PSR-TPI) jumps 14.3%, QOQ. TPI Truck Production Index www.powersys.com +1-651-95-8 info@powersys.com 2nd Quarter Power Systems Research Global Truck Production Index (PSR-TPI) jumps 14.3%, QOQ ST. PAUL, MN (JULY 9, ) The Power Systems

More information

feedstock will be paramount. Olefins production will be optimizing between ethane, propane and naphtha feedstock; while aromatics producers will be

feedstock will be paramount. Olefins production will be optimizing between ethane, propane and naphtha feedstock; while aromatics producers will be Naphtha and octane are feedstocks for production of aromatics, but are also important gasoline blendstocks. In 2012-13 demand for naphtha and octane was high, but presently octane and specially naphtha

More information

HIGHLIGHTS. 19 January 2018

HIGHLIGHTS. 19 January 2018 19 January 2018 HIGHLIGHTS Demand estimates in 2017 and 2018 are roughly unchanged at 97.8 and 99.1 respectively. A 40 kb/d downward revision to 2016 demand, however, pushed up the 2017 growth to 1.6,

More information

Oilseeds and Products

Oilseeds and Products Oilseeds and Products Oilseeds compete with major grains for area. As a result, weather impacts soybeans, rapeseed, and sunflowerseed similarly to the grain and other crops grown in the same regions. The

More information

ENERGY & FEEDSTOCKS OUTLOOK Global Plastics Summit

ENERGY & FEEDSTOCKS OUTLOOK Global Plastics Summit SEPTEMBER 2016 ENERGY & FEEDSTOCKS OUTLOOK Global Plastics Summit Mark Eramo, Vice President IHS Chemical +1 281-752-3202 mark.eramo@ihsmarkit.com Energy & Feedstocks Agenda Chemical Value-Chain & The

More information

Pakistan Refining Industry An Overview

Pakistan Refining Industry An Overview Pakistan Refining Industry An Overview October 2016 Oil World Crude Oil Reserves Largely sustained level of reserves Largest Region Contributes 47% (2014: 47.2%) Global proven oil reserves in 2015 fell

More information

The Rapidly Changing NA Crude Market Key Issues/Focus on the Downstream

The Rapidly Changing NA Crude Market Key Issues/Focus on the Downstream The Rapidly Changing NA Crude Market Key Issues/Focus on the Downstream Presented at 2015 Peters & Co. Energy Conference Lake Louise, Alberta January 21-23, 2015 John R. Auers Turner, Mason & Company TM&C

More information

Overseas Prospects for the Chinese Automotive Industry: Exports and New Opportunities Developing for Overseas Operations

Overseas Prospects for the Chinese Automotive Industry: Exports and New Opportunities Developing for Overseas Operations Overseas Prospects for the Chinese Automotive Industry: Exports and New Opportunities Developing for Overseas Operations Lin Huaibin Senior Market Analyst Content Vehicle Export 2003 2008 Export Destination

More information

Petroleum and Natural Gas Outlook

Petroleum and Natural Gas Outlook Petroleum and Natural Gas Outlook Energy Summit 26: Developing and Supporting Critical Energy Infrastructures at the LSU Center for Energy Studies Baton Rouge, Louisiana October 2, 26 A. Michael Schaal,

More information

BP Statistical Review of World Energy June 2013

BP Statistical Review of World Energy June 2013 BP Statistical Review of World Energy June 2013 bp.com/statisticalreview 1 Introduction 6 Oil 1 Group chief executive s introduction 2 2012 in review 6 Reserves 8 Production and consumption 15 Prices 16

More information

Global Petrochemical Market Outlook

Global Petrochemical Market Outlook Global Petrochemical Market Outlook Leveraging Competitive Feedstocks Given Energy Market Uncertainty Presented To: Congreso Argentino de Petroquimica June 14, 216 Centro Costa Salguero Buenos Aires, Argentina

More information

North American Nitrogen Outlook

North American Nitrogen Outlook North American Nitrogen Outlook TFI Outlook November 2016 Doug Hoadley : Over 25 years of experience in the fertilizer industry Expert on the nitrogen, phosphates and potash industries Detailed knowledge

More information

Oil Industry Trends. Rob Arnott. 26 th January /29/2004 1

Oil Industry Trends. Rob Arnott. 26 th January /29/2004 1 Oil Industry Trends Rob Arnott 26 th January 2004 3/29/2004 1 Oil Industry Trends Overview of global industry trends Regional costs and capital migration Industry costs and implications Why is further

More information

FUTURE SUPPLIES OF PARAXYLENE FEEDSTOCK

FUTURE SUPPLIES OF PARAXYLENE FEEDSTOCK FUTURE SUPPLIES OF PARAXYLENE FEEDSTOCK A critical analysis - Produced by: PCI Xylenes & Polyesters Suite 1208, Menara PJ Jacobs Consultancy Inc 79 Portsmouth Road AMCORP Trade Centre 5995 Rogerdale Road

More information

Petroleum Geopolitics at the beginning of the 21 st century

Petroleum Geopolitics at the beginning of the 21 st century Petroleum Geopolitics at the beginning of the 21 st century JP. Favennec Director - Center for Economics and management Institut français du pétrole 26 th Annual Conference International Association for

More information

Citrus: World Markets and Trade

Citrus: World Markets and Trade United States Department of Agriculture Foreign Agricultural Service uary 2015 Citrus: World Markets and Trade Oranges Global orange production for is forecast to decline 4 percent from the previous year

More information

US Refining Industry: Forecasts, Capacity, Challenges

US Refining Industry: Forecasts, Capacity, Challenges US Refining Industry: Forecasts, Capacity, Challenges Crude Oil Quality Group Cindy Schild, API February 26, 2009 Overview Prices, Earnings & Forecasts Domestic Refinery Industry Capacity Environmental

More information

The Influence of Geology on the Development of Petrobras

The Influence of Geology on the Development of Petrobras The Influence of Geology on the Development of Petrobras Brian Sandstrom PESD Research Project: Interim Findings April 19, 2007 Petrobras Performance Mbpd Petrobras Annual Daily Production of Crude Oil,

More information

Argentine Exporters Switch to Soybean Oil as Biodiesel Exports Fall

Argentine Exporters Switch to Soybean Oil as Biodiesel Exports Fall United States Department of Agriculture Foreign Agricultural Service Circular Series FOP 08-13 Argentine Exporters Switch to Soybean Oil as Biodiesel Exports Fall Argentina s soybean oil exports have surged

More information

India s Current Position in the Petrochemicals Industry

India s Current Position in the Petrochemicals Industry India s Current Position in the Petrochemicals Industry 6 th Annual Platts Asian Petrochemicals Markets 2017 April 19-20, 2017, Shanghai, China K.K.Jain, Executive Director (Petrochemicals-Projects) 1

More information

Tight Oil: A Solution to U.S. Import Dependence?

Tight Oil: A Solution to U.S. Import Dependence? Tight Oil: A Solution to U.S. Import Dependence? Geological Society of America Denver, Colorado October 28, 213 J. David Hughes Global Sustainability Research Inc. Post Carbon Institute The Shale Revolution

More information

Examining the cost burden imposed on European refining by EU legislation

Examining the cost burden imposed on European refining by EU legislation ENVIRONMENTAL SCIENCE FOR THE EUROPEAN REFINING INDUSTRY Examining the cost burden imposed on European refining by EU legislation Platts European Middle Distillates Conference Antwerp, Belgium Alan Reid

More information

Africa: just how big will it be?

Africa: just how big will it be? Africa: just how big will it be? 6th Annual Crude Oil Summit Hilton Tower Bridge, London, UK May 13, 2013 Dave Ernsberger, Global Editorial Director Oil, Platts 2013 Platts, McGraw Hill Financial. All

More information

FAPRI Food and Agricultural Policy Research Institute

FAPRI Food and Agricultural Policy Research Institute 26 WORLD OUTLOOK Presentation Food and Agricultural Policy Research Institute Global Macroeconomic Overview Sustained and widespread real economic growth for the decade averaging 3.1%. Industrialized countries

More information

North American Storage and Transportation Trends

North American Storage and Transportation Trends North American Storage and Transportation Trends Brian Busch Director, Oil Markets and Business Development www.genscape.com 2016 Genscape Incorporated. All rights reserved. What we do 2 Current State

More information

Economic and Market Report. EU Automotive Industry Quarter

Economic and Market Report. EU Automotive Industry Quarter Economic and Market Report EU Automotive Industry Quarter 2 2017 September 2017 CONTENTS Passenger cars... 2 Registrations... 2 World... 2 The European Union... 4 Passenger car registrations by fuel type...

More information

Macroeconomic Assumptions

Macroeconomic Assumptions Macroeconomic Assumptions A major factor affecting the global economy this year continues to be weakness in Chinese financial markets and the resulting fallout affecting trading partners dependent on the

More information

SEARCHING FOR GROWTH MARKETS. MUSTAFA MOHATAREM Chief Economist, General Motors

SEARCHING FOR GROWTH MARKETS. MUSTAFA MOHATAREM Chief Economist, General Motors SEARCHING FOR GROWTH MARKETS MUSTAFA MOHATAREM Chief Economist, General Motors GLOBAL ECONOMIC AND INDUSTRY OUTLOOK Global auto sales jumped more than 45 percent over the last decade China accounted for

More information

Fuel Quality Issues and Developments in Asia

Fuel Quality Issues and Developments in Asia Fuel Quality Issues and Developments in Asia Liisa Kiuru Director, Asia International Fuel Quality Center www.ifqc.org 1 International Fuel Quality Center 2 Situation in Each Country Varies Emissions WHO/Kyoto

More information

Welcome Welcome... 1

Welcome Welcome... 1 Welcome Welcome... 1 Presentation Structure Our presentation is split into three sections going through the market, operations and financials 2 3 As it has been indicated previously, it is now much clear

More information

BP Statistical Review of World Energy June 2017

BP Statistical Review of World Energy June 2017 BP Statistical Review of World Energy June 217 Primary energy 8 Consumption 8 Consumption by fuel 9 66 th edition Primary energy Consumption* Growth rate per annum Million tonnes oil equivalent 26 27 28

More information

Chemical and Petrochemical Opportunities in Iran

Chemical and Petrochemical Opportunities in Iran Chemical and Petrochemical Opportunities in Iran by Mohammad Reza Ghasemian Managing Director of Chemicalways LLC. Greece Oct 2015 In cooperation with Best Land to produce Petrochemicals in ME Natural

More information

Strategic Factors Impacting The California Crude Oil Market. About Purvin & Gertz, Inc. California Independent Petroleum Association

Strategic Factors Impacting The California Crude Oil Market. About Purvin & Gertz, Inc. California Independent Petroleum Association Strategic Factors Impacting The California Crude Oil Market Hyatt Regency Huntington Beach Mike Sarna Eric Wei Long Beach Office 1 About Purvin & Gertz, Inc. Privately-Owned, Independent International

More information

Outlook for Marine Bunkers and Fuel Oil to A key to understanding the future of marine bunkers and fuel oil markets

Outlook for Marine Bunkers and Fuel Oil to A key to understanding the future of marine bunkers and fuel oil markets Outlook for Marine Bunkers and Fuel Oil to 2035 A key to understanding the future of marine bunkers and fuel oil markets 01 FGE & MECL 2014 Study completed by FGE and MECL FGE London FGE House 133 Aldersgate

More information

Table B1. Advanced Economies: Unemployment, Employment, and Real per Capita GDP (Percent)

Table B1. Advanced Economies: Unemployment, Employment, and Real per Capita GDP (Percent) Statistical Appendix Table B1. Advanced Economies: Unemployment, Employment, and Real per Capita GDP (Percent) Unemployment Rate 2 Averages 1 1993 2002 2003 12 Advanced Economies 6.8 6.9 6.7 6.5 6.3 5.8

More information

Plywood and Oriented Strand Board (OSB) in the Pacific Rim and Europe:

Plywood and Oriented Strand Board (OSB) in the Pacific Rim and Europe: Plywood and Oriented Strand Board (OSB) in the Pacific Rim and Europe: 2011 2015 Market opportunities, strategies and prospects for trade and investment The forthcoming upturn will present opportunities

More information

The Global Petrochemical Industry Landscape

The Global Petrochemical Industry Landscape The Global Petrochemical Industry Landscape Leaders of Tomorrow Dr Andrew Spiers Senior Vice President aspiers@nexant.com 27 Copyright by Nexant Inc. 2016 All rights reserved Nexant Energy & Chemicals

More information

ENERGY SLIDESHOW. Federal Reserve Bank of Dallas

ENERGY SLIDESHOW. Federal Reserve Bank of Dallas ENERGY SLIDESHOW Updated: March 13, 2018 ENERGY PRICES www.dallasfed.org/research/energy Brent & WTI & Crude Brent Oil Crude Oil Dollars per barrel 140 Brent (Mar 9 = $65.12) WTI (Mar 9 = $61.65) 120 100

More information

Global Biofuels Market & Policy Developments

Global Biofuels Market & Policy Developments Global Biofuels Market & Policy Developments Liisa Kiuru Executive Director, International Fuel Quality Center lkiuru@ifqc.org Presented to Missao Tecnica Internacional de Logistica: Petroleo Presentation

More information

I.R. IRAN JODI OIL & JODI GAS

I.R. IRAN JODI OIL & JODI GAS I.R. IRAN JODI OIL & JODI GAS Data source for JODI-Oil questionnaire Crude oil NGL Other Total (1)+(2)+(3) (1) (2) (3) (4) + Production (NIOC)-Daily + From other sources Not Available + Imports Not Applicable

More information

U.S. Dis(llates: A tale of economic resurgence and failed policy

U.S. Dis(llates: A tale of economic resurgence and failed policy U.S. Dis(llates: A tale of economic resurgence and failed policy Ben Montalbano Director, Research and Opera7ons Energy Policy Research Founda7on, Inc. (EPRINC) PlaDs 2 nd Annual North American Refined

More information

Refineries, Product Market and Capacity Expansion Opportunities and Outlook in India- 2018

Refineries, Product Market and Capacity Expansion Opportunities and Outlook in India- 2018 Refineries, Product Market and Capacity Expansion Opportunities and Outlook in India- 2018 Examining the market expansion trends for petrochemical industry in India and the scope of business E-REP Market

More information

HIGHLIGHTS. 13 December 2016

HIGHLIGHTS. 13 December 2016 13 December 2016 HIGHLIGHTS OPEC has agreed to cut output by 1.2 from January 2017 and secured a reduction of 558 kb/d from non-opec. As OPEC was deciding to cut production, its crude output in November

More information

Devaluation Energizes Argentine Soybean Crush

Devaluation Energizes Argentine Soybean Crush United States Department of Agriculture Foreign Agricultural Service March 2016 Devaluation Energizes Argentine Soybean Crush Argentina Quarterly Soybean Crush Volume Exchange Rate* and Constant Dollar

More information

The Most Likely Futures for US Refining

The Most Likely Futures for US Refining The Most Likely Futures for US Refining Ed Arnold May, 2017 London Houston Singapore Moscow Dubai New York Portland Calgary Santiago Rio de Janeiro Beijing Shanghai Tokyo Sydney Astana Kiev Cape Town Riga

More information

KEY METRICS FINANCIAL

KEY METRICS FINANCIAL ABBOTT GLOBAL CITIZENSHIP REPORT METRICS 2015 KEY METRICS FINANCIAL SALES WORLDWIDE DIVIDENDS PAID 2012 2013 2014 2015 2012 2013 2014 2015 Dollars in Millions Dollars in Billions TOTAL 19,050* 19,657*

More information

Economic and Market Report. EU Automotive Industry Quarter

Economic and Market Report. EU Automotive Industry Quarter Economic and Market Report EU Automotive Industry Quarter 3 2017 December 2017 CONTENTS EU economic outlook... 2 Passenger cars... 4 Registrations... 4 World... 4 The European Union... 6 Passenger car

More information

Refinery & Petrochemical Integration- An IOCL Perspective

Refinery & Petrochemical Integration- An IOCL Perspective Refinery & Petrochemical Integration- An IOCL Perspective Aromatics Olefins Refinery Presented by : Brij Behari Chief General Manager(Technical) Indian Oil Corporation Ltd Source: Argus APR'14 JUN'14 AUG'14

More information

The Changing North American Crude Market: Impacts to/from the U.S. Refining Complex

The Changing North American Crude Market: Impacts to/from the U.S. Refining Complex The Changing North American Crude Market: Impacts to/from the U.S. Refining Complex Presented to: North American Refining Conference June 9, 2015 Houston, TX John R. Auers, P.E. Executive Vice President

More information

Petrochemical Feed Stock, Global Olefin & Polyolefin Outlook

Petrochemical Feed Stock, Global Olefin & Polyolefin Outlook Feed Stock, Global Olefin & Polyolefin Outlook Paul Joo S&P Global Platts Paul.joo@spglobal.com Strategic Accounts APAC July 2017 Asian Petrochemical Industry = The Cow in the middle? Still be In a Fix

More information

Outlook for Global Economy and State of the Petrochemicals Industry. Clive Gibson, Vice President, Nexant

Outlook for Global Economy and State of the Petrochemicals Industry. Clive Gibson, Vice President, Nexant Outlook for Global Economy and State of the Petrochemicals Industry Clive Gibson, cgibson@nexant.com Vice President, Nexant Outlook for Global Economy and State of the Petrochemicals Industry Sapporo,

More information

China Changjiang National Shipping (Group) Corporation Delegation

China Changjiang National Shipping (Group) Corporation Delegation WELCOME China Changjiang National Shipping (Group) Corporation Delegation Minerva Alfonso UK Regional Manager London, 29 November 2006 International Association of Independent Tanker Owners Membership:

More information

Crude to Chemicals. Opportunities and Challenges of an Industry Game-Changer. MERTC, Bahrain. January 23, 2017

Crude to Chemicals. Opportunities and Challenges of an Industry Game-Changer. MERTC, Bahrain. January 23, 2017 A World of Solutions Crude to Chemicals Opportunities and Challenges of an Industry Game-Changer MERTC, Bahrain Daniel McCarthy, Executive Vice President Group President of Technology, CB&I January 23,

More information

MAN Diesel & Turbo. Engineering the Future since Dionissis Christodoulopoulos Managing Director, MAN Diesel & Turbo Hellas Ltd

MAN Diesel & Turbo. Engineering the Future since Dionissis Christodoulopoulos Managing Director, MAN Diesel & Turbo Hellas Ltd MAN Diesel & Turbo Engineering the Future since 1758. Dionissis Christodoulopoulos Managing Director, MAN Diesel & Turbo Hellas Ltd < 1 > Content overview 1 MAN at a glance 2 Engines & Marine Systems Products

More information

May Feedstock Disruptions in Chemicals chains necessitate business model innovation

May Feedstock Disruptions in Chemicals chains necessitate business model innovation May 2014 Feedstock Disruptions in Chemicals chains necessitate business model innovation Strategy& has based findings on its proprietary feedstock model Strategy& global feedstock model Feedstock developments

More information

Asian Premium of Crude Oil and Importance on Preparation of Oil Market in Northeast Asia

Asian Premium of Crude Oil and Importance on Preparation of Oil Market in Northeast Asia Asian Premium of Crude Oil and Importance on Preparation of Oil Market in Northeast Asia Yoshiki Ogawa The Institute of Energy Economics, Japan The 26 th IAEE International Conference 7 June 2003, Prague

More information

northeast group, llc Southeast Asia Smart Grid: Market Forecast ( ) Volume II October group.com

northeast group, llc Southeast Asia Smart Grid: Market Forecast ( ) Volume II October group.com northeast group, llc Southeast Asia Smart Grid: Market Forecast (2014 2024) Volume II October 2014 www.northeast- group.com Southeast Asia Smart Grid: Market Forecast (2014-2024) Southeast Asia is a growing

More information

OCTANE THE NEW ECONOMICS OF. What Drives the Cost of Octane and Why Octane Costs Have Risen Since 2012 T. J. HIGGINS. A Report By:

OCTANE THE NEW ECONOMICS OF. What Drives the Cost of Octane and Why Octane Costs Have Risen Since 2012 T. J. HIGGINS. A Report By: THE NEW ECONOMICS OF OCTANE What Drives the Cost of Octane and Why Octane Costs Have Risen Since 2012 A Report By: T. J. HIGGINS Contents Foreword... 1 1. Executive Summary... 2 2. Tracking the Changing

More information

PVC and Chlor-Alkali In a Vibrant Region

PVC and Chlor-Alkali In a Vibrant Region PVC and Chlor-Alkali In a Vibrant Region Joel Lindahl Director, Chlor-Alkali & Vinyls Americas Foro PEMEX Petroquímica Junio 2011 1Singapore Shanghai Bangkök Houston New York London Düsseldorf Dubai Latin

More information

Christine Shearer & Ted Nace, CoalSwarm

Christine Shearer & Ted Nace, CoalSwarm Christine Shearer & Ted Nace, CoalSwarm Global Coal Plant Tracker First public map and database of proposed coal plants: EndCoal.org Wiki pages on CoalSwarm.org for each proposed plant Multi-national effort

More information

The Game Has Changed The Influence Of Shale Development On The Global Petrochemical Industry

The Game Has Changed The Influence Of Shale Development On The Global Petrochemical Industry The Game Has Changed The Influence Of Shale Development On The Global Petrochemical Industry Bill Hyde, Senior Director Olefins and Elastomers Foro Pemex Petroquimica June 7, 2012 Presentation Agenda Outlook

More information

U.S. Ethane Crackers and Ethylene Derivative Capacity Additions

U.S. Ethane Crackers and Ethylene Derivative Capacity Additions U.S. Ethane Crackers and Ethylene Derivative Part 1 The Economics Behind Monetizing Cost-Advantaged U.S. Ethane Reserves by CLAY JONES, TERREL LAROCHE, and CHERYL GINYARD-JONES www.honfleurllc.com HONFLEUR

More information

Energy perspectives and new energy solutions

Energy perspectives and new energy solutions Energy perspectives and new energy solutions Energy seminar Ås, 3rd of March 2017 Classification: Open 3 mars 20 Statoil ASA Outline Personal introduction Statoil s strategy Energy perspectives New energy

More information

A snapshot of today s (low oil) petrochemical industry.

A snapshot of today s (low oil) petrochemical industry. A snapshot of today s (low oil) petrochemical industry. Will changes in global oil Industry affect tank container movements? @tco Asia General Meeting Singapore 5 th July 2016 www.icis.com 1 Agenda ICIS

More information

OVERVIEW OF THE ASIAN FUEL MARKET

OVERVIEW OF THE ASIAN FUEL MARKET OVERVIEW OF THE ASIAN FUEL MARKET THE EUROPEAN FUELS CONFERENCE 9 March 2011 Sunanda Banerjee European Fuel Oxygenates Association - www.efoa.eu Mission and Vision Working closely with fuel policymakers,

More information

Drilling Productivity Report

Drilling Productivity Report Independent Statistics & Analysis U.S. Energy Information Administration il 216 For key tight oil and shale gas regions Bakken Marcellus Utica Niobrara Permian Haynesville Eagle Ford The seven regions

More information

Tanker Market Outlook

Tanker Market Outlook Tanker Market Outlook 4 th Maritime Indonesia Simon Chattrabhuti, Director, Head of Tanker Market Analysis Jakarta, 22 March 212 Disclaimer THIS PRESENTATION IS CONFIDENTIAL AND IS SOLELY FOR THE USE OF

More information

World crude oil exports by country, thousand barrels daily

World crude oil exports by country, thousand barrels daily World crude oil exports by country, 2002 thousand barrels daily Saudi Arabia 5 285 Former USSR 3 940 Norway 3 113 Iran 2 094 Nigeria 1 798 United Kingdom 1 746 Mexico 1 715 United Arab Emirates 1 614 Venezuela

More information

Market Report Series. OIL 2O17 Analysis and Forecasts to 2O22

Market Report Series. OIL 2O17 Analysis and Forecasts to 2O22 Market Report Series OIL 2O17 Analysis and Forecasts to 2O22 Market Report Series OIL 2O17 Analysis and Forecasts to 2O22 Check out the new and improved Oil Market Report website! The IEA has redesigned

More information

SAMPLE: Wipers intelligence service. Generated: July 11, 2016

SAMPLE: Wipers intelligence service. Generated: July 11, 2016 SAMPLE: Wipers intelligence service Generated: July 11, 2016 Table of contents Table of contents Introduction... Companies... Denso Corporation... Federal Mogul Corporation... Products... Hella KGaA Hueck

More information

Perspectives on US Energy Outlook, Cocktail Party Issues and Impacts on E&C Players

Perspectives on US Energy Outlook, Cocktail Party Issues and Impacts on E&C Players Perspectives on US Energy Outlook, Cocktail Party Issues and Impacts on E&C Players October 4, 211 1 World Oil Outlook 2 US Refining and Gasoline Outlook 3 US Natural Gas Outlook 4 US NGL Outlook Wood

More information