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3 Oil Majors That Bet Big On Renewables

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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com.

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EIA expects continued high prices for diesel and home heating oils

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The US Energy Information Administration (EIA) expects that low inventories of distillate fuels, which are primarily consumed as diesel fuel and heating oil, will lead to high prices through early 2023. Inventories are just one part of the supply equation for diesel and other distillates. EIA forecasts Russia will produce 9.3

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.

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Aramco, Shandong Energy to collaborate on downstream projects in China; cooperation across H2, renewables and carbon capture technologies

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The Saudi Arabian Oil Company (Aramco), one of the world’s leading integrated energy and chemicals companies, and Shandong Energy Group, are exploring collaboration on integrated refining and petrochemical opportunities in China. Shandong Energy Group is the third-largest coal mining group in China in terms of production volume.

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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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Oil remains the world’s leading fuel, but its 33.1% Coal’s market share of 30.3% Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% World primary energy consumption grew by 2.5%

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IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

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Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9

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BNEF: Net-zero transition potentially a $3.5T investment opportunity for Indonesia

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Based on BNEF’s New Energy Outlook, its annual long-term scenario analysis on the future of the energy economy, the report examines how Indonesia’s energy supply may evolve under BNEF’s Economic Transition Scenario (ETS) as well as a Net Zero Scenario (NZS) compliant with the goals of the Paris Agreement.

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