Outlook for U.S. oil and gas Mayer Brown Annual Global Energy Conference May 15, 2014 Houston, TX By Adam Sieminski, EIA Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov
The U.S. has experienced a rapid increase in natural gas and oil production from shale and other tight resources U.S. tight oil production U.S. dry shale gas production million barrels of oil per day billion cubic feet per day Eagle…
U.S. natural gas production is nearly double current level in High Oil and Gas Resource case U.S. dry natural gas production trillion cubic feet History 2012 Projections 50 45 High Oil and Gas Resource 40 35 Reference 30 25 Low Oil…
U.S. natural gas consumption growth is driven by electric power, industrial, and transportation use U.S. dry gas consumption trillion cubic feet History Projections 35 30 11.0 Electric 25 power 20 8.5 Industrial* 15 11.2 9.1 10…
U.S. manufacturing output and natural gas use grows with low natural gas prices, particularly in the near term manufacturing natural gas consumption quadrillion Btu billion cubic feet per day 9 24 8 Refining and 20 7 related 6 16 5…
U.S. becomes a net exporter of natural gas in the near future U.S. dry natural gas trillion cubic feet per year billion cubic feet per day History 2012 Projections 40 100 30 75 Consumption 20 50 Domestic supply 10 25 Net…
U.S. crude oil production exceeds 13 million bbl/d in High Oil and Gas Resource case U.S. crude oil production in three cases million barrels per day History 2012 Projections 16 14 12 U.S. maximum production level of High Oil and Gas…
U.S. transportation sector motor gasoline demand declines, while diesel fuel accounts for a growing portion of the market transportation energy consumption by fuel quadrillion Btu History Projections 2012 30 2030 2040 25 20 44% 59%…
Although oil use is slightly increased in the High Resource case due to lower prices, net import dependence declines rapidly U.S. liquid fuel supply million barrels per day History Projections 2012 25 2005 2016 2040 High Resource 20…
The rise in U.S. crude oil and natural gas production has strategic implications for the United States Refinery operations/investment Logistics infrastructure investment Exports of petroleum products Exports of crude oil and…
U.S. maintains status as a net exporter of petroleum products U.S. petroleum product imports and exports million barrels per day History 2012 Projections 4 3 Distillate exports 2 Motor gasoline exports Total petroleum product net…
Net crude and petroleum products imports value has fallen, while other major net import flows have risen monthly U.S. net import values by major product category billion dollars Source: U.S. Census Bureau- Foreign Trade Division Note:…
Americas have some of the top crude oil producing countries in the world Americas crude oil production by major country and 2012 world rank million barrels per day Country (world rank) 2011 2012 2013(e) 2014(e) United States (3rd…
and some of the top natural gas producing countries in the world Americas dry natural gas production by major country and 2012 world rank trillion cubic feet Country (world rank) 2011 2012 2013(e) 2014(e) United States (1st globally)…
Top ten countries with technically recoverable shale resources Shale gas Shale oil Rank Country Trillion cubic feet Rank Country Billion barrels 1 China 1,115 1 Russia 75 2 Argentina 802 2 United States 58 3 Algeria 707 3 China 32…
Geopolitical implications of shale resources Shale oil is both light and sweet the rapid growth in its supply has implications for crude oil pricing relationships, the value of different refinery configurations, refinery output slates,…
Mexico institutes energy reforms In December 2013, Mexican government enacted constitutional reforms ending PEMEX's monopoly on the oil and gas sector, opening it to greater foreign investment Reforms allow for new exploration and…
16% of natural gas consumed in Europe in 2013 flowed through Ukraine major natural gas transit pipelines flowing through Ukraine Source: EIA; HIS EDIN; IEA Mayer Brown Annual Global Energy Conference May 15, 2014 18
The South China Sea is an important world crude oil trade route major crude oil trade flows in the South China Sea, 2011 million barrels per day Source: EIA Mayer Brown Annual Global Energy Conference May 15, 2014 19
For more information U.S. Energy Information Administration home page www.eia.gov Annual Energy Outlook www.eia.gov/aeo Short-Term Energy Outlook www.eia.gov/steo International Energy Outlook www.eia.gov/ieo Monthly Energy Review…
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