Strong demand for cleaner-burning fuel in Asia continued to drive rapid growth in liquefied natural gas (LNG) use in 2018, with global demand rising by 27 million tonnes to 319 million tonnes, according to Shell’s latest annual LNG Outlook.
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Critical investment decisions will impact on the global demand balance, the Petroleum Economist writes.
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South Africa’s power utility Eskom said it would temporarily turn off the power on Sunday due to the increasing strain on its power stations and reserve capacity.
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The market could be quite tight in the first half of 2019 but oversupplied again by 2020, according to a new industry note from Jefferies, which was sent to Rigzone on Thursday.
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(Bloomberg) — OPEC may be about to succeed by accident, again.
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AVZ Minerals’ Manono became the world’s largest non-brine lithium resource after the Perth-based company released the maiden estimate for its 60%-owned project in southern DRC in August this year.
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China’s crude oil imports averaged 9.61 million barrels a day last month, customs data cited by Reuters has revealed, with the agency noting the amount is the highest on record. Once again, it was the independent refiners, or teapots, that drove the increase as they seek to fulfill their import quotas before they expire.
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(Bloomberg) – Oil prices are likely to be “biased to the upside” for the rest of the year as demand from refineries rises in November and December, according to Citigroup Inc.
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With an annual growth of 10% in 2017 to 290 million tons (Mt)[1] and 8.3% in the first half of 2018,[2] Liquified Natural Gas (LNG) demand is rising faster than expected. Accounting for 44% of global demand growth in 2017, China is the main driver of the growth as the government has made natural gas a key policy choice to reduce air pollution and restructure its high-carbon energy mix.
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Both global oil demand and supply are now close to new, historically significant peaks at 100 million barrels per day (MMbpd) “and neither show signs of ceasing to grow any time soon,” according to the International Energy Agency (IEA).
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