10142019Mon
Last updateFri, 11 Oct 2019 2pm

EIA Projects Asia Will Lead 50% Global Energy Usage Increase

In the International Energy Outlook 2019, the U.S. Energy Information Administration (EIA) projects that world energy consumption will grow by nearly 50% between 2018 and 2050. Most of this growth comes from countries that are not in the Organization for Economic Cooperation and Development (OECD), and this growth is focused in regions where strong economic growth is driving demand, particularly in Asia.

The industrial sector, which includes refining, mining, manufacturing, agriculture, and construction, accounts for the largest share of energy consumption of any end-use sector—more than half of end-use energy consumption throughout the projection period. World industrial sector energy use increases by more than 30% between 2018 and 2050 as consumption of goods increases. By 2050, global industrial energy consumption reaches about 315 quadrillion British thermal units.


U.S. Specialty Chemical Markets Rebounded in August

Reflecting a rebound of manufacturing production, U.S. specialty chemicals market volumes rose 0.2% in August after falling 0.1% in July, rising 0.2% in June and a generally weak early 2019, according to the American Chemistry Council (ACC). All changes in the data are reported on a three-month moving average (3MMA) basis. Of the 28 specialty chemical segments ACC monitors, 18 expanded in August – double the figure for July – seven markets declined and three were flat. Large market volume gains (1.0% and over) occurred only in rubber processing chemicals.

IEA: U.S. Shale Revolution Has Reshaped Energy Landscape

The International Energy Agency (IEA) released its latest in-depth review of U.S. energy policies recently, welcoming U.S. leadership on innovation and highlighting the far-reaching impact of the country’s shale revolution.

The shale boom has transformed the U.S. into the world’s top oil and gas producer and a leading exporter for the fuels. As a result, the U.S. approach to energy policy making has shifted from a mind-set of scarcity to one seeking to maximize the benefits of energy abundance, according to the report. U.S. government policy reflects a strategy to boost energy production, benefit from greater energy exports, be a global leader in energy technologies and keep consumer energy bills in check.

U.S. Chemical Production Fell in July

According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) fell by 0.9% in July following revised declines of 0.8% in June and 0.6% in May. During July, chemical output was lower in all regions, with the largest declines in the Mid-Atlantic, Northeast and West Coast regions.

Chemical production was mixed over the three-month period. There were gains in the production three-month moving average (3MMA) output trend in chlor-alkali and other inorganic chemicals. These gains were offset by declines in the output of pesticides, synthetic rubber, coatings, fertilizers, consumer products, plastic resins, organic chemicals, synthetic dyes & pigments, adhesives, manufactured fibers, and other specialty chemicals.

Saudi Oil Output to Be Restored by End of Month Following Attacks

“The world’s largest crude oil processing facility and the heartbeat of Saudi Arabia’s energy industry was targeted in drone and missile attacks early Saturday morning that knocked out more than half of the OPEC kingpin’s global daily exports,” CNBC reports.

According to the country’s energy minister, 50% of crude production from the attack was restored within days and “production capacity would reach 11 million barrels of crude per day (bpd) by the end of September and 12 million bpd by the end of November.”

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