Number of the week

Oil and Natural Gas supported 10.3 million jobs in the U.S. and contributed $1.3 trillion to the U.S. economy in 2015 Source: API , (See also, API fact sheet )

…the growth of US natural gas production between 1990 and 2015 – largely as a consequence of the shale revolution; and the decline of total methane emissions from natural gas during the same period – despite production growing by half. Source: ExxonMobil, Perspectives blog

3 IOGP Members (Statoil, Shell and Total) have announced a partnership to store CO2 offshore Norway. Source: Statoil  

Norway’s Oil and Gas fund is now worth over $1 trillion.  Money to spend on health, education and infrastructure. One of the many advantages of oil and gas production. Source: Norges Bank Investment Management (NBIM)

40%: China’s share of the growth in global gas demand in the next 5 years. According to the IEA, global gas demand is expected to increase 1.6%/year for the next 5 years.  Consumption by 2022 will reach almost 4 trillion cubic metres  tcm), up from 3.63 tcm in 2016. China will …

The year that gas first achieved virtual  parity with coal in generating electrical power in OECD nations. Source: International Energy Agency  

Carbon Capture & Storage (CCS) technology can cut CO2 emissions from gas power plants by a factor 15. Full details at ExxonMobil  “Molecule by molecule: How carbon capture cuts CO2 emissions”  

US shale output is projected to grow in excess of 1m barrels a day next year, or enough to meet around 75% of anticipated global demand growth. Source: Financial Times ‘Traders grapple with US crude conundrum’ (Paywall)  

…The average number of additional barrels of oil per day needed to meet increasing petroleum  demand in 2017, according to the International Energy Agency (IEA).  Total daily consumption is now about 97 million barrels per day, the IEA says. Source: International Energy Agency      

Our ‘Everyday uses of oil’ infographic is now available in 7 seven languages Whether as a fuel or a feedstock: oil is an integral part of your daily life. Visit Oil in everyday life to download the info-graphic.