Corrigendum: Oil 2020 Issued: 10 March 2020 Link to report: https://www.iea.org/reports/market-report-series-oil-2020
General note: Minor improvements to layout made (removing extra points, ensuring correct heading levels have been applied, etc.) to improve readability of the report.
Page 11 Last paragraph “(see Fuel standards, EVs limit demand growth)” should be “(see Transport in transition)”.
Page 55 - Figure 2.11 US total oil supply Old:
US LTO production Wellhead breakeven prices (WTI)* 100
mb/d 12 $/bbl 90 10 80 70 8 60 6 50 40 4 30 20 2 10 0 0 2010 2012 2014 2016 2018 2020 2022 2024 2010 2012 2014 2016 2018 Midland Delaware Bakken Eagle Ford Niobrara Others New: 20
mb/d 18 16 14 12 10 8 6 4 2 0 2010 2012 2014 2016 2018 2020 2022 2024 LTO Gulf of Mexico Alaska Other Crude NGLs Other Liquids
Page 56 - Figure 2.12 US LTO production and breakeven prices Old:
US LTO production Wellhead breakeven prices (WTI)* 120
mb/d 12 $/bbl
10 100
8 80
6 60
4 40
2 20
0 0 2010 2012 2014 2016 2018 2020 2022 2024 2010 2012 2014 2016 2018
Midland Delaware Bakken Eagle Ford Niobrara Others
New:
US LTO production Wellhead breakeven prices (WTI)* 100
mb/d 12 $/bbl 90 10 80 70 8 60 6 50 40 4 30 20 2 10 0 0 2010 2012 2014 2016 2018 2020 2022 2024 2010 2012 2014 2016 2018
Midland Delaware Bakken Eagle Ford Niobrara Others
Page 100 - Figure 3.27 Ethane/LPG Old:
Ethane Importers LPG Trade 140 3.0
120 mb/d 2.5 100 2.0 80 1.5 60 1.0 40
20 0.5
0 0.0 Canada India Europe China US exports Middle East Asia imports exports 2019 2025 2019 2025
New:
Ethane Importers LPG Trade 140 3.0 kb/d 120 mb/d 2.5 100 2.0 80 1.5 60 1.0 40
20 0.5
0 0.0 Canada India Europe China US exports Middle East Asia imports exports 2019 2025 2019 2025
Page 101 - Figure 3.29 Main diesel/kerosene exporters (positive) and importers (negative) Old: 2019 2025
Europe Europe Latin America Latin America Australia Australia West Africa East Africa East Africa West Africa India Korea China US US Middle East Middle East China Russia Russia -2 100 -1 100 - 100 900 1 900 -2 100 -1 100 - 100 900 1 900
New: 2019 2025
Europe Europe Latin America Latin America Australia Australia West Africa East Africa East Africa West Africa India Korea China US US Middle East Middle East China Russia Russia -2.5 -2.0 -1.5 -1.0 -0.5 0.0 0.5 1.0 1.5 2.0 -2.5 -2.0 -1.5 -1.0 -0.5 0.0 0.5 1.0 1.5 2.0 mb/d mb/d
Page 102 - Figure 3.30 Main fuel oil exporters (positive) and importers (negative) Old: 2019 2025
South East Asia South East Asia Caribbean Caribbean US Japan West Africa East Africa North Africa North Africa India Latin America Latin America India Russia Russia
- 800 - 600 - 400 - 200 0 200 400 600 800 -1 000 - 500 0 500
New: 2019 2025
South East Asia South East Asia Caribbean Caribbean US Japan West Africa East Africa North Africa North Africa India Latin America Latin America India Russia Russia
-0.8 -0.6 -0.4 -0.2 0.0 0.2 0.4 0.6 0.8 -1.0 -0.8 -0.6 -0.4 -0.2 0.0 0.2 0.4 0.6 mb/d mb/d
Page 113 - Table 4b Old:
Table 4b SELECTED REFINERY CRUDE DISTILATION PROJECT LIST
Capacity Start Capacity Start Country Project (kbd)1 Year Country Project (kbd)1 Year OECD Americas Latin America Canada NLRC - Come By Chance 35 2023 Peru Petroperu - Talara, Piura 33 2022 Mexico Petroleos Mexicanos - Dos Bocas 340 2024 Middle East United States ExxonMobil Refining & Supply - Beaumont 250 2023 Bahrain Bahrain Petroleum - Sitra -265 2023 United States GCC - Galveston 50 2022 Bahrain Bahrain Petroleum - Sitra 355 2023 United States Meridian Resources - Davis North Dakota 50 2021 Iran National Iranian Oil - Abadan -235 2022 OECD Europe Iran National Iranian Oil - Abadan 200 2022 Germany Hestya - Wilhelmshaven 40 2020 Iraq INOC-ORA - Karbala 140 2024 OECD Asia Oceania Iraq South Refining Company - Basra 65 2025 Japan JX Energy - Osaka -115 2021 Kuwait Kuwait National Petroleum - Al-Zour 615 2024 FSU Kuwait Kuwait National Petroleum - Mina Abdulla 200 2020 Azerbaijan SOCAR - Heydar Aliev 30 2022 Kuwait Kuwait National Petroleum - Mina al-Ahmadi -115 2020 Russia Ilsk Refinery - Krasnodarskiy Kray 70 2022 Oman Oman Refinery - Duqm 230 2023 Russia Yayski - Irkutsk 30 2024 Oman Sohar Bitumen Refinery - Sohar 30 2022 Non-OECD Europe Saudi Arabia Saudi Aramco - Jizan 400 2020 Croatia Ina-Industrija Nafte d.d. - Sisak -44 2020 UAE ADNOC - Umm-al-Nar -85 2025 China Africa China PetroChina - Jieyang 400 2023 Algeria Sonatrach - Hassi Messoud 100 2025 China Rongsheng Petrochemical - Zhoushan island phase 2 400 2023 Egypt MIDOR - Alexandria 60 2024 China Shenghong Petchem - Lianyungang 320 2024 Nigeria Dangote Oil Refining Company - Lekki Free Trade Zone 650 2022 China Sinopec/KPC - Zhanjiang 200 2020 (Lagos) China CNOOC - Ningbo Zhejiang 100 2021 South Sudan Trinity Energy - Paloich 25 2022 China Sinopec - Yangpu 100 2025 China PetroChina - Daqing 70 2021 China Wudi Xinyue - Binzhou 70 2020 China Sinochem - Quanzhou 60 2021 China Sinopec - Luoyang 40 2020 Other Asia Bangladesh BPC / KPI - Chittagong 60 2024 Brunei Zhejiang Hengyi Petrochemicals - Pulau Muara Besar 280 2023 India HPCL - Visakhapatnam 150 2021 India Nagarjuna Oil - Cuddalore 120 2023 India Indian Oil - Koyali 100 2023 India BPCL - Mumbai 60 2020 India HPCL - Mahul, Mumbai 60 2020 India Indian Oil - Barauni 60 2022 Indonesia Pertamina - Balikpapan, Kalimantan 100 2024 Malaysia Vitol - Tanjong Bin 35 2020 Mongolia Mongolsekiu - Altanshiree 30 2022 Pakistan National Refinery - Karachi 30 2022 Thailand Thai Oil - Sriracha 126 2023 Vietnam Petro Vietnam/gazpromNeft - Quang Ngai/Dung Quat 40 2023
New: Table 4b SELECTED REFINERY CRUDE DISTILATION PROJECT LIST
Capacity Start Capacity Start Country Project (kbd) Year Country Project (kbd) Year OECD Americas Latin America Canada NLRC - Come By Chance 35 2023 Peru Petroperu - Talara, Piura 33 2022 Mexico Petroleos Mexicanos - Dos Bocas 340 2024 Middle East United States ExxonMobil Refining & Supply - Beaumont 250 2023 Bahrain Bahrain Petroleum - Sitra -265 2023 United States GCC - Galveston 50 2022 Bahrain Bahrain Petroleum - Sitra 355 2023 United States Meridian Resources - Davis North Dakota 50 2021 Iran National Iranian Oil - Abadan -235 2022 OECD Europe Iran National Iranian Oil - Abadan 200 2022 Germany Hestya - Wilhelmshaven 40 2020 Iraq INOC-ORA - Karbala 140 2024 OECD Asia Oceania Iraq South Refining Company - Basra 65 2025 Japan JX Energy - Osaka -115 2021 Kuwait Kuwait National Petroleum - Al-Zour 615 2024 FSU Kuwait Kuwait National Petroleum - Mina Abdulla 200 2020 Azerbaijan SOCAR - Heydar Aliev 30 2022 Kuwait Kuwait National Petroleum - Mina al-Ahmadi -115 2020 Russia Ilsk Refinery - Krasnodarskiy Kray 70 2022 Oman Oman Refinery - Duqm 230 2023 Russia Yayski - Irkutsk 30 2024 Oman Sohar Bitumen Refinery - Sohar 30 2022 Non-OECD Europe Saudi Arabia Saudi Aramco - Jizan 400 2020 Croatia Ina-Industrija Nafte d.d. - Sisak -44 2020 UAE ADNOC - Umm-al-Nar -85 2025 China Africa China PetroChina - Jieyang 400 2023 Algeria Sonatrach - Hassi Messoud 100 2025 China Rongsheng Petrochemical - Zhoushan island phase 2 400 2023 Egypt MIDOR - Alexandria 60 2024 China Shenghong Petchem - Lianyungang 320 2024 Nigeria Dangote Oil Refining Company - Lekki Free Trade Zone 650 2022 China Sinopec/KPC - Zhanjiang 200 2020 (Lagos) China CNOOC - Ningbo Zhejiang 100 2021 South Sudan Trinity Energy - Paloich 25 2022 China Sinopec - Yangpu 100 2025 China PetroChina - Daqing 70 2021 China Wudi Xinyue - Binzhou 70 2020 China Sinochem - Quanzhou 60 2021 China Sinopec - Luoyang 40 2020 Other Asia Bangladesh BPC / KPI - Chittagong 60 2024 Brunei Zhejiang Hengyi Petrochemicals - Pulau Muara Besar 280 2023 India HPCL - Visakhapatnam 150 2021 India Nagarjuna Oil - Cuddalore 120 2023 India Indian Oil - Koyali 100 2023 India BPCL - Mumbai 60 2020 India HPCL - Mahul, Mumbai 60 2020 India Indian Oil - Barauni 60 2022 Indonesia Pertamina - Balikpapan, Kalimantan 100 2024 Malaysia Vitol - Tanjong Bin 35 2020 Mongolia Mongolsekiu - Altanshiree 30 2022 Pakistan National Refinery - Karachi 30 2022 Thailand Thai Oil - Sriracha 126 2023 Vietnam Petro Vietnam/gazpromNeft - Quang Ngai/Dung Quat 40 2023
Back cover In the first paragraph, “Oil 20202” should be “Oil 2020”.