article thumbnail

IEA trims expected growth in oil demand for 2012/2013 by 300K–400K barrels per day

Green Car Congress

The International Energy Agency’s August Oil Market Report (OMR) trims 2012/2013 oil demand expectations by 300-400 thousand barrels per day (kb/d), although annual growth remains in an 800-900 kb/d range both years. This follows baseline data revisions and a weaker economic prognosis for 2012/2013.

2013 236
article thumbnail

Cenovus oil sands production increases 14% in 2013; increasing its rail transport capability

Green Car Congress

increased its oil sands production 14% in 2013, from 89,736 barrels per day in 2013 to 102,500 bbls/day in 2013. The increase in production from the company’s oil sands operations in 2013 was largely driven by its Christina Lake project. Cenovus Energy Inc. Total proved reserves reached almost 2.3

Oil-Sands 252
article thumbnail

IEA raises forecast global oil consumption in 2013 to 90.8 mb/d

Green Car Congress

In its latest Oil Market Report , the International Energy Agency (IEA) raises its forecast for global consumption of oil to 90.8 mb/d in 2013, 240 kb/d more than in last month’s report and 930 kb/d (1.0%) up on 2012. Global crude oil supplies fell by 170 kb/d in December, to 91.2 days to 30 days in November.

2013 225
article thumbnail

EIA: North Dakota oil production reached new high of 770K bpd in 2012; transported by trucks and railroads

Green Car Congress

North Dakota crude oil production (including lease condensate) averaged an all-time high of 770,000 barrels per day in December 2012, according to the US Energy Information Administration (EIA). Much of crude oil production in North Dakota is gathered and transported by truck to railcars leaving the state. Source: EIA.

article thumbnail

Neste Oil de-emphasizing microbial oil R&D for renewable diesel; seeking other uses for cellulosic biomass

Green Car Congress

Despite the decision to de-emphasize microbial oil, Neste Oil emphasized that cellulosic waste will continue to play an important role in its research strategy, adding that it remains committed to its goal of further extending its feedstock base and making greater use of waste and residues in this area in particular.

Oil 310
article thumbnail

EIA: US proved oil reserves up for 5th year in a row; N Dakota proved oil reserves surpass Gulf of Mexico

Green Car Congress

US crude oil proved reserves increased for the fifth year in a row in 2013, a net addition of 3.1 billion barrels of proved oil reserves (a 9% increase) according to US Crude Oil and Natural Gas Proved Reserves, 2013 , released today by the US Energy Information Administration (EIA). per MMBtu in 2013.

Oil 199
article thumbnail

Japan will begin test drilling for oil and gas off Niigata coast in 2013

Green Car Congress

Japan’s Ministry of Economy, Trade and Industry (METI) will begin test drilling for oil and natural gas in the Sea of Japan off the coast of Niigata Prefecture in April 2013. METI hopes to discover Japan’s largest reserves of these resources—possibly the size of intermediate oil fields in the Middle East, according to METI.

Japan 239