NrgEdge Editor

Sharing content and articles for users
Last Updated: January 19, 2018
1 view
Business Trends
image

graph of U.S. fossil fuel production, as explained in the article text

Source: U.S. Energy Information Administration, Monthly Energy Review and Short-Term Energy Outlook


In its January 2018 Short-Term Energy Outlook (STEO), EIA forecasts that total fossil fuels production in the United States will average almost 73 quadrillion British thermal units (Btu) in 2018, the highest level of production on record. EIA expects total fossil fuel production to then set another record in 2019, with production forecast to rise to 75 quadrillion Btu.


Fossil fuels include dry natural gas, crude oil, coal, and hydrocarbon gas liquids (HGL). Although EIA tends to express fossil fuel production in physical units, such as cubic feet for natural gas, barrels for oil, and tons for coal, expressing production in heat content allows for comparisons across fuel types.


Record production levels are largely attributable to increased production of natural gas and crude oil enabled by the use of hydraulic fracturing techniques in tight rock formations. EIA expects increases in natural gas production to be the leading contributor to overall fossil fuels production growth in 2018 and increases in crude oil production growth to the be leading contributor in 2019. In both years, expected growth in natural gas, crude oil, and HGL production more than offset expected declines in coal production.


On a heat-content basis, dry natural gas accounted for the largest share of fossil fuel production in 2017 at 41%. Crude oil accounted for 29%, coal for 23%, and HGL for the remaining 7% of the total. As recently as 2010, coal was the leading source of U.S. fossil fuel production, but it was surpassed by dry natural gas in 2011 and by crude oil in 2015.


In 2018, EIA forecasts dry natural gas production will average 80.4 billion cubic feet per day (Bcf/d), an increase of 9% from 2017 levels. If achieved, this level of production would be the highest annual average on record, surpassing the previous record of 74.2 Bcf/d set in 2015. EIA forecasts dry natural gas production will set another record with 83.0 Bcf/d in 2019. Growth is likely to be concentrated in Appalachia’s Marcellus and Utica shales along with the Permian Basin in Texas and New Mexico.

graph of U.S. dry natural gas production, as explained in the article text

Source: U.S. Energy Information Administration, Monthly Energy Review and Short-Term Energy Outlook


EIA expects total U.S. crude oil production to average 10.3 million barrels per day (b/d) in 2018, up 10% from 2017. If achieved, this would be the highest annual average U.S. oil production on record, surpassing the previous record of 9.6 million b/d set in 1970. In 2019, EIA expects crude oil production to continue to increase, reaching an average of 10.8 million b/d.


Increased production from the Permian region in Texas and New Mexico accounts for most of the projected increase in the U.S. total. EIA also expects a significant contribution to crude oil production growth from the Federal Gulf of Mexico, as seven new oil-producing projects are slated to come online by the end of 2019.

graph of U.S. crude oil production, as explained in the article text

Source: U.S. Energy Information Administration, Monthly Energy Review and Short-Term Energy Outlook


EIA forecasts coal production will total 759 million short tons (MMst) in 2018, down 2% from 2017. Coal production is expected to fall to 741 MMst in 2019, a further 2% decline from 2018. In both years, EIA expects production declines in the Appalachia and Western producing regions to be partially offset by production increases in the Interior producing region.


U.S. coal consumption also is projected to fall the next two years. About 90% of domestic coal consumption occurs in the electric power sector, and EIA expects relatively low natural gas prices to reduce demand for coal used to produce electricity. EIA expects demand for U.S. coal exports to fall in 2018 and 2019 after a slight increase in 2017.

graph of U.S. coal production, as explained in the article text

Source: U.S. Energy Information Administration, Monthly Energy Review and Short-Term Energy Outlook


Growth in crude oil production, especially in the Permian Basin, is projected to result in increased associated natural gas production and to contribute to growing HGL production at natural gas processing plants. EIA forecasts HGL production will average 4.2 million b/d in 2018 and 4.6 million b/d in 2019.

graph of U.S. hydrocarbon gas liquids production, as explained in the article text

Source: U.S. Energy Information Administration, Monthly Energy Review and Short-Term Energy Outlook


Principal contributor: Tim Hess

3
0 0

Something interesting to share?
Join NrgEdge and create your own NrgBuzz today

Latest NrgBuzz

Infographic: Oil and Gas Scams & How to avoid them!

Oil and gas sector is one of the most lucrative sectors for job seekers from industries all over the world. It offers great salaries and benefits packages and an opportunity to travel and work overseas. Due to its high demand, scammers are preying on the vulnerable oil and gas workers. To ensure you don’t fall prey to their mischievous tactics, we would recommend reading our guideline below:

How does scamming occur? 

The scammer poses as an employer or recruiter of an oil and gas company or he may claim to be an employee or recruiter for a job consultancy firm catering to the oil and gas industry. They offer irresistible employment opportunities and often demand money in advance to conduct further processes. Money is often demanded on the pretext of work visas, travel expenses, background or credit checks that the job requires.

What do scammers want from you?

 It is important to understand what the scammer's agenda is so that it helps you shield yourself from getting conned:

To extract money: On the pretext of getting you a job in the energy sector employing any of the tactics mentioned above

For identity theft: scammers look for valid identity of people and ask for confidential personal details including bank details to commit fraud through your name or to withdraw money from your account.

Whatever be their modus operandi, their goal is to either separate you from your cash or accomplish an identity theft. The bigger problem is, the scammers are getting better at their game and coming up with innovative ideas to lure innocent job seekers. In oil and gas industry, the scammers are targeting the job seekers from overseas, immigrants or contractors as they feel it is easier to attract them on the pretext of work permits, high salaries, paid travel, better lifestyle in the first world countries.

How to spot a job scam and keep yourself secure?

 There is always a difference between real and fake, all you need to do is be watchful to notice the underlying discrepancies. There is a pattern that scammers usually follows, which is discussed below. Make sure you watch out for these red flags when you receive any job offer next time:

Free email provider - No legitimate hiring agency or company will use the services of free email provider like Gmail, Hotmail, or Yahoo. So, if you are receiving an email or have been requested to share your details on emails that use free email services, then be extremely cautious. The scammers try to trick the job seekers by using an email address that looks authentic for instance: [email protected]. It is important to notice here that the ‘xyz’ part of the email ID is usually a gmail, yahoo, etc. which is a free email address. A legitimate job provider would never use.

Fake or new company name - If company name or oil and gas recruitment agency name is mentioned along with the free email id, then do a quick search on the company. Verify its existence and contact them via official email address and contact numbers mentioned on the website. Check their social media presence too. If the website and social media page look new while the company claims to be in business for a substantial amount of time, know for sure that there is something fishy.

Bad grammar and confusing job details - The scammers usually do not pay much attention to structure the mail. You can spot grammatical errors and even the job descriptions are not explained well or is completely different than your skillset and experience. Any authentic mail from a company or oil and gas recruitment agency will ensure an error-free, concise, and clear communication

Fee to conduct a job interview - No legitimate oil and gas company or recruitment agency will ever ask for money to conduct a job interview or to apply to job positions. If the mail says, the money will be refunded once you appear for a job interview, then please do not trust such claims as it is always bogus.

Asking for confidential personal information - Anyone asking for information that you will never put on CV, is a warning sign. It includes your bank details, passport copy, identity cards, your current residential details and so on. No genuine company will ever ask for such details before you sign the offer letter. If by chance, you have shared your bank details or another confidential detail to the scammer, contact your bank and email service provider and register a complaint against it.

Unknown source - There are countries who have strict spam rules and until you subscribe or give consent to the company, they cannot send you emails. So, if you receive an email from a company you haven’t contacted or have not applied for jobs, then be cautious it might be a scam.

The principle on which scammers operate is “Too good to be true”.  Don’t entertain any job offer that offers a position, you are not qualified for or offers a salary which is unrealistically high. In the oil and gas sector, be careful not to reveal your passport/work visa details to the scammer. Remember, if you find anything which is way beyond the realistic expectations, then trust your instincts and drop the offer and do not respond.

See our infographic below for a quick summarized glance -


 If you are looking for a job in the Energy sector then sign up today to stay updated with the latest industry news, apply for jobs and network - https://www.nrgedge.net/jobs 

November, 04 2018
Infographic: Pros and Cons of App Based Talent Search in Oil and Gas


Searching for the right talent is often a tedious chore for the HR. However, with technological improvements, the usage of app-based recruitment has increased manifold. Recruiters and job seekers are increasingly adopting this new method. A mobile application simplifies the labor-intensive and time-consuming recruitment task and comes loaded with features that help to automate the recruitment cycle. For all the good, app-based approach can do, it still comes under fire from the critics. Here's our take on the pros & cons of App-based talent search.


November, 16 2018
Asif Mukri
I am Asif Mukri as STOREKEEPER with 3 years of experience i am searching a new opportunity as Warehouse Assistant OR Store Man OR Storekeeper. Please Contact me +919588663322 / +919004351849 Email. [email protected]
November, 15 2018