Jan 10: The volume of associated gas flared off by the global oil industry rose in the past five years, according to new World Bank data. Rapid growth in Iraq and the United States was responsible for most of the increase, more than offsetting reductions other countries.
8OPEC said in its monthly report its agreement to cut production, while speeding up the re-balancing of the global oil market, won't result in demand exceeding supply until the second half of 2017.
8The International Energy Agency (IEA) said the global oil market could turn into deficit as soon as the first half of 2017 if Opec and countries outside the cartel successfully execute the recent supply pact. IEA said the planned output cuts could lead to demand outstripping supply by as much as 600,000 barrels a day.
8Growth in global coal demand will stall over the next five years, according to the latest coal forecast from the International Energy Agency (IEA). The share of coal in the power generation mix will drop to 36% by 2021, down from 41% in 2014, the IEA said in the latest Medium-Term Coal Market Report.
8Cedigaz (an international association for natural gas) estimated additional nameplate liquefaction capacity in the world in 2016 should be around 19 million tonnes per year, dominated by Australia, according to the association's recent presentation. Significant increase of LNG exports from the country was observed from January through November adding 13.5 million tonnes (+52%) year-on-year. On the other hand Nigeria, Trinidad, and Yemen decreased exports.
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