First floating liquefaction facility begins operations
PFLNG Satu, the world’s first floating liquefaction facility (FLNG), completed delivery of its first cargo of liquefied natural gas (LNG) in April, according to the U.S. Energy Information Administration (EIA). Developed by Malaysian oil and natural gas company Petronas, the versatile facility has a production capacity of 0.16 billion cubic feet per day, or 1.2 million metric tons per year. The vessel will be anchored offshore of Sarawak, Malaysia, and will produce from the Kanowit field for five years before moving to other natural gas fields in the area.
OPEC net oil revenues in 2016 were the lowest since 2004
Organization of the Petroleum Exporting Countries (OPEC) members saw a 15 percent decline in net oil export revenues in 2016, down from $509 billion earned the year prior. This was the lowest earnings since 2004, the EIA reported. The drop is blamed primarily on the fall in average annual crude oil prices, but can also be attributed in small part to decreases in OPEC net oil exports.
Fuel economy improvements projected to reduce future gasoline use
Light-duty vehicle energy use in the U.S. between 2018 and 2014 is projected to decline as improvements in fuel economy more than offset increases in light-duty vehicles. These changes in energy consumption by light-duty vehicles are anticipated and outlined by the EIA in the Annual Energy Outlook 2017.
Oil and gas separator market research report offers global forecast to 2022
The oil and gas as separator market is expected to register a compound annual growth rate of about 5 percent, according to the Oil & Gas Separator Market Research Report – Global Forecast to 2022. The report is comprised of primary research with the detailed analysis of qualitative as well as qualitative aspects by various industry experts and key opinion leaders. It is designed to offer deeper insight of the market and industry performance.
Indian liquid fuels consumption beginning to recover
Preliminary estimates from India’s Ministry of Petroleum and Natural Gas indicate that Indian liquid fuels consumption fell 3 percent during the first quarter of 2017 compared with the same quarter the year prior, marking the first year-over-year quarterly decline since 2013. However, total liquid fuels consumption in India increased 8 percent to 4.35 million barrels per day in 2016, the largest increase since 2009, according to the EIA.
PADD 1B petroleum product exports reach record high in February
Increased exports of finished petroleum products from the Central Atlantic region of the U.S. (Petroleum Administration of Defense District, or PADD 1B) were driven by lower prices in other regions in the Atlantic Basin. This resulted in a record high in February 2017, according to the EIA. Distillate fuel and total motor gasoline were among the exports that increased.
Most petroleum-fired power plants built before 1980
About 70 percent of petroleum-fired electric generating capacity that exists today was built before 1980, according to the EIA. Generators on the utility scale that report petroleum as their primary fuel made up just 3 percent of total electric generating capacity, and produced less than 1 percent of total electricity generation in 2016.