article thumbnail

EIA: Crude oil demand returns faster than supply, increasing prices and reducing inventories

Green Car Congress

The price of US benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020 as demand returns faster than supply, according to the US Energy Information Administration (EIA). US crude oil inventories were 440.3 Crude oil inventories reached a recent low of 413.9

Oil 417
article thumbnail

IKEA, CMA CGM & GoodShipping successfully complete 2019 biofuel test program; HFO-equivalent bio-fuel oil

Green Car Congress

This latest development follows the first fueling of a container ship with sustainable biofuel, when the CMA CGM White Shark took on the bunker during a call at the Port of Rotterdam in March 2019. Both applications of the Bio-Fuel Oil showed a positive result, thus proving the technical compatibility of sustainable marine biofuels.

2019 195
article thumbnail

IEF, IHS Markit: deepening underinvestment in hydrocarbons raises specter of continued price shocks and volatility

Green Car Congress

Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. Investment slumped by 30% in 2020.

Price 416
article thumbnail

EU research project IDEALFUEL seeks to develop marine low-sulfur heavy fuel oils from biomass; Bio-HFO

Green Car Congress

In an EU-funded research project, an international consortium is aiming to develop new production methods for sustainable marine fuels to replace heavy fuel oils in shipping. This is cost competitive with Ultra-Low Sulfur Fuel Oil (ULSFO) which current, 2019, price level is €450-550/tonne. The participants are Vertoro B.V. (NL);

Mariner 273
article thumbnail

T&E study claims EU’s biofuels policy has wiped out forests the size of the Netherlands

Green Car Congress

This drove up demand for cheap crop-based biodiesel, such as palm and soy oil, which is mainly sourced from Asia and South America. Europe has burned around 39 million tonnes of palm and soy biodiesel alone in its cars and trucks since 2010. The updated REDII, adopted in 2018, plots a path away from palm oil. tonnes per hectare.

article thumbnail

Ford Europe bringing 48V mild hybrid tech to Tourneo van; new diesel engines

Green Car Congress

Ford Europe will introduce more powerful and fuel-efficient 2.0-liter liter EcoBlue diesel engines, new 48V EcoBlue mild Hybrid powertrains; and driver assistance technologies including Active Park Assist in the enhanced Ford Tourneo Custom people-mover from mid-2019.

Ford 247
article thumbnail

OPIS: Russia’s shipments of diesel to Europe surged 55% in first eight months of 2014

Green Car Congress

Satellite tracking of oil cargoes by market reporting group OPIS shows that Europe’s dependence on Russia for road fuels in the 28 member countries has deepened significantly. The increase signals a fundamental shift in how Europe meets a rising deficit in the motor transport fuel, OPIS commented. Russia exported around 10.3

2014 262