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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

Green Car Congress

The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 As for OPEC+, total oil output in 2023 may fall as embargoes and sanctions shut in Russian volumes and producers outside the Middle East suffer further declines. mb below the 2017-2021 average. mb/d in 2023, surpassing pre-pandemic levels.

Oil 210
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President Biden calls on Congress, States for fuel tax holiday; increase in refinery capacity

Green Car Congress

He also continued his calls for the oil industry to increase refinery capacity to increase production. That figure is down from 141 refineries in 2017, with 4 idle. Crude oil is always the top contributor to the prices US drivers see at the pump. Hence, the importance of increasing crude oil production.

Congress 259
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Suncor targeting 1M barrels per day by 2020, some 80% from oil sands; new strategic alliance with Total

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Suncor is targeting 1 million barrels per day output in 2020, with its growth in the oil sands underpinned by its alliance with Total. Approximately 80% of that production will be from the oil sands. The agreement with Total is an important element of Suncor’s plans to more than double our oil sands production.

Oil-Sands 199
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Cummins announces compatibility with select 100% paraffinic diesel fuels for B4.5, B6.7, L9 engines

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Paraffinic diesel fuels are liquid fuels that can be synthetically created from feedstocks such as natural gas (GTL), biomass (BTL) or coal (CTL); or through hydro-treatment of vegetable oils or animal fats (HVO).

Diesel 186
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Getrag begins production of 7DCT300 dual-clutch transmission; hybrid versions in 2016

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For the Asian market, the transmission will also be produced in China starting in 2017. Its use enables power consumption of under 40W to be achieved—less energy than a light bulb and 3.5% The oil in the 7DCT300 is fill-for-life, which results in considerable advantages in terms of maintenance and running costs.

2016 150
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IHS Markit: vehicle miles traveled to increase 65% in key markets by 2040, while vehicle sales slow

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In a new study, IHS Markit forecasts that vehicle miles traveled (VMT) will by 2040 grow to an all-time high of around 11 billion miles per year (a 65% increase since 2017) in China, Europe, India and the United States—the key markets examined for the study—and will keep growing. IHS Markit, “Reinventing the Wheel.”

Sale 150
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NAS: concerns remain about rail transport for energy liquids, gases; pipeline, maritime have more comprehensive safety system in place

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The country’s increased production of crude oil, natural gas, and corn-based ethanol created unforeseen demands and safety challenges on their long-distance transportation via pipelines, tank barges, and railroad tank cars. Prior to 2005, railroads had little experience carrying ethanol and crude oil in large quantities.