11152018Thu
Last updateThu, 15 Nov 2018 4pm

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Keystone Pipeline Construction to Start in 2019

“The developer of the Keystone XL oil pipeline plans to start construction next year, after a U.S. State Department review ordered by a federal judge concluded that major environmental damage from a leak is unlikely and could quickly be mitigated,” the Associated Press  reports.

A spokesman for TransCanada says his company “has already started preparing pipe yards, transporting pipe and mowing parts of the project’s right-of-way in Montana and South Dakota, but TransCanada said in court documents it doesn’t plan start construction in Nebraska in the first half of 2019.” 


Oil Demand, Refining Growth to Peak in 2035

On Monday, China’s Unipec said that world oil demand “will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below 100 million bpd currently, as new technologies gradually eat into oil use,” Reuters  reports.

“Improved energy efficiency and technological changes, including the rise of renewables, meant global oil demand growth would slow in coming years before peaking in 2035, Unipec President Chen Bo told the annual Asia Pacific Petroleum Conference (APPEC).” 

Crude Oil Top U.S. Petroleum Export in First Half of 2018

Crude oil surpassed hydrocarbon gas liquids (HGL) to become the largest U.S. petroleum export, with 1.8 million barrels per day (b/d) of exports in the first half of 2018. U.S. crude oil exports increased by 787,000 b/d, or almost 80%, from the first half of 2017 to the first half of 2018 and set a new monthly record of 2.2 million b/d in June. Much of this crude oil went to destinations in Asia and Oceania such as China, South Korea, and India. Europe was the second-largest market for U.S. crude oil exports, led by Italy, the United Kingdom, and the Netherlands. Canada was the only major U.S. crude oil export destination where exports decreased, down slightly in the first half of 2018 compared with the same period in 2017. 

OPEC: U.S. Shale Oil Stealing Market Share

According to OPEC’s latest World Oil Outlook, total primary energy is set to expand by a robust 33% between 2015 and 2040, driven predominantly by developing countries, which see almost 95% of the overall energy demand growth.

Fast evolving trade patterns for crude oil and refined products will continue to evolve, driven initially by additional flows from the U.S. and Canada, and in the long-term by the Middle East, mostly attributed to increasing imports to the Asia-Pacific. 

Coal Number One in More States, Behind Natural Gas Overall

Electricity generators that use fossil fuels continue to be the most common sources of electricity generation in most states. In all but 15 states, coal, natural gas, or petroleum liquids were the most-used electricity generation fuel in 2017. Since 2007, the number of states where coal was the most prevalent electricity generation fuel has fallen as natural gas, nuclear, and hydroelectricity have gained market share.

In 2017, coal provided the largest generation share in 18 states, down from 28 states in 2007. Natural gas had the largest share in 16 states, up from 11 in 2007. Petroleum remained the largest generation share in only one state—Hawaii—providing 62% of the state’s electricity generation in 2017. For the U.S. as a whole, natural gas provided 32% of total electricity generation in 2017, slightly higher than coal's 30% share. 

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