Last updateFri, 18 Aug 2017 1pm


Long-Term Shifts in Energy Markets Underway

The 2017 edition of the BP Statistical Review of World Energy shows global energy markets continuing to undergo long-term changes as they also adapt to nearer-term price challenges.

Data published in the Review – the 66th annual edition – clearly demonstrate the long-term transitions now underway in the markets, with a shift to slower growth in global energy demand, demand moving strongly towards the fast-growing developing economies of Asia, and a marked shift towards lower carbon fuels as renewable energy continues to grow strongly and coal use falls.

At the same time, energy markets are adjusting effectively to nearer-term challenges, with the oil market in particular adjusting in 2016 to the oversupply that has dominated the market in recent years. 

Canadian Oil Sands Projects Drives Need for More Pipelines

Canada will need more pipelines built through to 2030 to transport an additional 1.3 million barrels per day of oil sands production to markets across North America and around the world, the Canadian Association of Petroleum Producers (CAPP) announced in its 2017 Crude Oil Forecast, Markets and Transportation report.

Overall Canadian oil production will grow to 5.1 million b/d in 2030, up from 3.85 million b/d in 2016. This 1.3-million-b/d growth will be driven by a 53-per-cent increase in forecasted oil sands production of up to 3.7 million b/d in 2030 from 2.4 million b/d in 2016.

Conventional oil production is expected to remain flat, producing 884,000 b/d on average throughout the outlook. 

U.S. Crude Production Expected to Rise in 2018

For 2017, the International Energy Agency (IEA) expects U.S. crude supply to grow by 430k b/d and the year will end with production here 920k b/d higher than at the end of 2016. The first look at 2018 suggests that U.S. crude production will grow year-on-year by 780k b/d, but such is the dynamism of this extraordinary, very diverse industry it is possible that growth will be faster. For total non-OPEC production, IEA expects production to grow by 0.7m b/d this year but the first outlook for 2018 makes sobering reading for those producers looking to restrain supply. In 2018, IEA expects non-OPEC production to grow by 1.5m b/d, which is slightly more than the expected increase in global demand. 

2017 State of the Water Industry Unveiled

The 2017 State of the Water Industry report shows water professionals could use a pick-me-up. Since AWWA began the annual survey began more than a dozen years ago, respondents’ perception of the overall health of the industry has declined steadily – with a couple of blips along the way – and is now at its lowest point. The current health of the industry is rated 4.3 on a scale of 1 to 7, as compared to 4.5 last year. Since the survey was first conducted in 2004, the rating had never fallen below 4.4.

In addition to infrastructure and workforce challenges, today’s water professional faces a plateful of issues that includes the sector’s credibility due to Flint, adequacy of water supplies, and recovering the cost of services. 

Petrochemical Facilities Continue to Pop Up Along Gulf Coast

According to Wood Mackenzie, “200 petrochemical projects are planned or under study in the U.S., representing more than $150 billion in capital investment over the next five years,” with most of the new production slated for export, the Houston Chronicle reports.

“The Gulf Coast continues to dominate new U.S. chemical plant construction. Six of the eight new U.S. ethylene projects now being built sit along the Gulf.” 

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