Global oil demand to increase by 6% through 2028, up to 105.7m b/d


*Global oil demand to growth

Lagos — Energy security and supply concerns are the major priorities to leaders, policymakers and executives from across the energy industry and Sarens is there to help maintain stable production and secure supply all the time.

Texas maintains its leadership in the production of all types of crude oil, with 42.3% of forecast this year according to the Texas Oil & Gas Association.

Sarens continues to play an important role in achieving complete energy autonomy in the region by supporting the oil and gas industry.

According to the International Energy Agency (IEA), global oil demand will increase by 6% through 2028 to 105.7 million barrels per day (mb/d), thanks to strong demand from the petrochemical and aviation sectors. According to the U.S. Energy Information Administration, the United States is the world’s largest producer of oil, with an average production of 12.9 mb/d, breaking the previous US and global record of 12.3 mb/d set in 2019.

In a moment of growing production forecasts for 2024 —US is set to produce an average of 13.19 mb/d this year and 13.65 mb/d in 2025 and national consumption is expected to rise by 200,000 barrels per day (bpd) to 20.4 million bpd this year and another 200,000 bdp in 2025 according to the EIA—, Texas maintains its leadership in the production of all types of crude oil, with 42.3% of forecast this year according to the Texas Oil & Gas Association.

Sarens, world leader in heavy lifting, engineered transport and crane rental services, has established itself as a key collaborator for the energy industry in Texas. With its international expertise in oil and gas plant construction projects, Sarens continues to play an important role in achieving complete energy autonomy in the region. Following the opening of their new facilities in Beaumont and Odessa, both located in an oil-rich area, the company is supporting the oil and gas industry when maintenance of plants already in operation or new infrastructure is needed in order to maintain stable production and secure the supply to face higher demands.

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Sarens international experience in this sector means also a boost for the number of active projects throughout the State and, therefore, for job creation. Both the Government and public administrations, as well as private construction companies, require Sarens support in choosing the right machinery for each project, as well as in carrying out the logistical operations of transporting the materials and infrastructure needed to carry out these tasks.

“Our new branches in Odessa and Beaumont provide Sarens with a strategic advantage in offering our clients complete heavy lift, transportation and engineering support solutions for both small and large projects. In a moment when the industry is investing millions of dollars in the development of oil drilling and processing while expanding existing facilities all over the State, Sarens is poised to be part of this expansion process”, says Steven Sarens, Managing Director of Sarens in the USA.

Energy security is one of the macro themes at the CERAWEEK conference this year and it means affordable and reliable supply. Now that global energy leaders gather in Houston for the 5 days conference, the most important annual event on the energy industry’s calendar, it is time to think about the infrastructures and the needs of the companies and institutions that require specialized services to be able to face their projects of installation, maintenance and processing infrastructures with the due guarantees.

Sarens has already been involved in several projects aimed at strengthening the oil sector in the U.S. One example is the construction and modernization work at the Corpus Christi refinery in Texas, where Sarens used several of its larger capacity cranes, such as the 385 tonne Liebherr LR1350S crawlers cranes that were transported from Australia, to lift and position two reactors and 58 modules.

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This article was originally posted at sweetcrudereports.com

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