EIA's recently released Annual Energy Outlook 2018 (AEO2018) Reference case projects that U.S. tight oil production will generally increase through the early 2040s, when it will surpass 8.2 million barrels per day (b/d) and account for nearly 70% of total U.S. production. Tight oil production made up 54% of the U.S total in 2017.
Recent legislation has directed the sale of more than 100 million barrels of oil from the U.S. Strategic Petroleum Reserve (SPR) in U.S. government fiscal years (FY) 2022 through 2027. Based on legislated sales established in multiple acts of Congress, the SPR could decline by about 40% in the coming decade while still meeting requirements for petroleum import coverage.
Over the next two years, EIAï¿½s Short-Term Energy Outlook (STEO) projects growth in U.S. consumption of ethane in the petrochemical industry will exceed increases in consumption of all other petroleum and liquid productsï¿½such as motor gasoline, distillate, and jet fuelï¿½combined.
EIA expects total 2017 U.S. coal production to be 773 million short tons (MMst), 45 MMst higher than in 2016 and the largest year-over-year tonnage increase since 2001. Coal prices across the United States rose as well, especially for Central Appalachian coal. An increase in demand for U.S. coal exports more than offset a slight decline in U.S. coal consumption, contributing to higher coal production in 2017.
The United States had 341.1 trillion cubic feet (Tcf) of natural gas proved reserves as of the end of 2016, an increase of 5% from 2015, according to EIA's recently released U.S. Crude Oil and Natural Gas Proved Reserves report. U.S. crude oil and lease condensate proved reserves remained virtually unchanged from their 2015 level, at 35.2 billion barrels.
EnerzyTech® Industries Pvt. Ltd. is an emerging player in India's conventional and non-conventional energy sector and caters to utility, residential, commercial and Government clients. Our emphasis is on renewable energy, solar in particular.
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