Remove 2012 Remove China Remove International Remove Oil
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. mb/d and 90.5

2013 236
article thumbnail

EIA: China promoting both fuel efficiency and alternative-fuel vehicles to curb growing oil use

Green Car Congress

Consumption of gasoline in China grew from 0.9 This continues a trend of significant growth in China’s transportation sector since the 1990s. Increasing oil demand is requiring increasing imports; since 2009, China has been importing more than half of its petroleum needs. China vehicle sales and gasoline consumption.

article thumbnail

Boeing, COMAC open facility to transform gutter oil into aviation biofuel

Green Car Congress

of China (COMAC) opened a demonstration facility that will turn waste cooking oil, commonly referred to as “gutter oil” in China, into sustainable aviation biofuel. billion liters) of biofuel could be made annually in China from used cooking oil. Boeing and Commercial Aircraft Corp.

Oil 239
article thumbnail

China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

Green Car Congress

CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. It is the second-largest oil producer in the UK North Sea.

Oil-Sands 325
article thumbnail

Study suggests China urban passenger transport emissions could peak in 2030

Green Car Congress

A team of researchers in China suggest that, in the context of promoting the use of clean fuel vehicles and increasing vehicle fuel efficiency, CO 2 emissions of China’s urban passenger transport sector could reach a peak of 225 MtCO 2 in 2030. A paper on their study appears in the journal Energy Policy. —Li and Yu.

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 Global refinery runs rose 1.5

2013 225
article thumbnail

New EIA report boosts estimates of global recoverable shale oil resources 10-fold to 345 billion barrels

Green Car Congress

Map of basins with assessed shale oil and shale gas formations, as of May 2013. Among the highlights in the 2013 report is a 10-fold increase in the estimate of technically recoverable shale / tight oil from 32 billion barrels (from the EIA’s Annual Energy Outlook 2011 ) to 345 billion barrels. Source: US EIA. Click to enlarge.

Oil 281