Eni has released the latest edition of its World Oil and Gas Review, a worldwide statistical review on oil and natural gas consumption, production, reserves, imports and exports.
During 2010, oil demand rose to approximately 87.9 million barrels/day: +3.4% from the previous year. This growth has been driven by non-OECD countries’ population and pro capita income growth and by Government subsidies to oil product prices.
The US remains the primary oil consumer, followed by China. In 2010, Chinese oil demand reached 9.4 million barrels/day, an historical peak and a 12% growth compared to 2009.
Oil reserves continued growing, confirming the trend recorded over the last decade (+1.9% y.a.). Middle East reserves account for more than 50% of world oil reserves while OPEC accounts for about 72%. Oil reserves grew in the Americas, thanks to unconventional oil reserves additions.
Worldwide oil production recovered in 2010 (+2.3%), while output in Europe continued to fall (-8.1%) due to depletion of oil producing fields. OPEC countries still account for 40% of total oil production (stable since 1995). OPEC reported the largest production growth in the last year (+3% versus +1.8% of non-OPEC).
In 2010, natural gas consumption grew significantly (+7.5%) both in non-OECD (+9%) and in OECD countries (+5.8%).
Russia regained its position as the largest gas producer in the world with 624.61 billion cubic metres, after having been surpassed by the United States in 2009.
Nonetheless, the United States reached a new historical production peak (600.15 billion cubic metres) continuing its extraordinary growth (+19.4% between 2005 and 2010), driven by shale gas (natural gas trapped within shale formation).
Qatar confirmed its position as the fastest growing natural gas producer: gas production grew by over 150% between 2005 and 2010, thanks to the rapid development of the world’s biggest LNG production capacity.
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