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.
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.
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.
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.
Principal contributor: Tim Hess
Something interesting to share?
Join NrgEdge and create your own NrgBuzz today
The global bioethanol market is estimated at USD 53.19 Billion in 2017 and is projected to reach USD 68.95 Billion by 2022, at a CAGR of 5.3% from 2017 to 2022. The market is driven by the increased demand for bioethanol from various end-use industry segments, such as transportation, pharmaceuticals, cosmetics, alcoholic beverages, and others. The transportation end-use industry segment led the global bioethanol market, in terms of volume, in 2016.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=131222570Major Growth Drivers:
Starch-based feedstock is estimated to be the largest feedstock type in the global bioethanol market.
The starch-based segment is estimated to be the largest feedstock segment of the global bioethanol market. This feedstock type uses corn, barley, wheat, and other starch raw materials as feedstocks to produce bioethanol. Corn has the highest percentage of starch, about 70-72%. The growth in this segment is attributed to the rising demand from Asia Pacific and South America and the wide variety of feedstocks that can be used to produce starch-based bioethanol. The feedstocks used are available in almost all over the world.
Alcoholic beverages segment is estimated to be the fastest growing end-use industry segment of the global bioethanol market.
Among end-use industries, the alcoholic beverages segment is estimated to be the fastest growing end-use segment of the global bioethanol market. The growth of this segment is attributed to the increasing purchasing power in developing countries and the growing acceptance of drinking alcoholic beverages in some cultures.
North America contributes as the largest market of bioethanol
In 2016, North America accounted for largest share of the bioethanol market. Currently, the US is the largest market for bioethanol in North America, and is expected to continue to be the largest market till 2022. In the US, the demand for bioethanol is expected to increase due to the increasing government and environment regulations in the country. Regulations such as the Federal Reformulated Gasoline (RFG) and E15 regulations contribute to the growing use of bioethanol in fuels. The other driving factor for the bioethanol market is the low price of corn, which is a prime feedstock used in the production of bioethanol in the country. Many bioethanol manufacturers are based in this region.
Key companies profiled in the global bioethanol market research report include Archer Daniels Midland Company (US), POET LLC (US), Green Plains (US), Valero Energy Corporation (US), Flint Hills Resource (US), Abengoa Bioenergy SA (Spain), Royal Dutch Shell plc (Netherlands), Pacific Ethanol, Inc. (US), Petrobras (Brazil), and The Andersons (US).
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=131222570
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
Email: [email protected]
Electricity, coal, renewables, and emissions
Many of Indonesia’s oil and gas fields, both on and offshore, are coming to the end of their commercially viable operational lifespan. More than 60% of Indonesia’s oil and more than 30% of gas production comes from late-life-cycle resources spread across the world's largest island country. Despite investment and use of enhanced oil field recovery measures, as well as increasing automation to extend the economic lifespan of these assets, decommissioning will soon become necessary.
However Indonesia, like many countries new to the prospect of decommissioning energy infrastructure, face many key technological, fiscal, environmental, regulatory and industrial capacity issues, which need to be addressed by both government and industry decision makers.
This report, commissioned by the consulting and advisory arm of London and Aberdeen based Precision Media & Communications, aims to take a look at many of the issues Indonesia and other South East Asian oil producing nations are likely to face with the prospect of decommissioning the region's oil and gas aging energy infrastructure both onshore and offshore... To find out more Click here