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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

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ExxonMobil Corporation announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. billion recoverable oil-equivalent barrels. Wood Mackenzie currently expects around 350,000-400,000 b/d of oil production (just oil, not factoring in natural gas) by 2026 from there.

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EIA: China’s use of methanol in liquid fuels has grown rapidly since 2000; >500K bpd in 2016

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The report estimates consumption to have been more than 500,000 barrels per day (b/d) in 2016. Smaller amounts of China’s methanol supply are imported from the Middle East, Southeast Asia, South America, and the United States. Consumption of MTBE and other derivatives in China was estimated at 230,000 b/d in 2016.

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BASF and Gazprom agree on asset swap; BASF’s Wintershall expanding production of oil and gas, exiting gas trading and storage business

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Through the swap, BASF aims to further expand its production of oil and gas via its wholly owned subsidiary Wintershall —Germany’s largest internationally active crude oil and natural gas producer—and to exit the gas trading and storage business. billion barrel of oil equivalent. This is equivalent to a total of 2.4

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IHS Automotive forecasts 88.6M unit global light vehicle market in 2015; 2.4% growth

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The size of the market contraction in Russia is the biggest wild card facing vehicle manufacturers across the European continent, if not the world, in 2015 and 2016.” South America. There was a stark change in 2014 South America automotive demand compared to 2013, when monthly sales broke the 500,000 unit mark seven times.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

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