article thumbnail

EIA: At least 9 new refinery projects to come online before end of 2023 in Asia and Middle East; 2.9 MMb/d

Green Car Congress

In the International Energy Agency’s (IEA) June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0 A new 140,000 b/d refinery is scheduled to come online in Karbala, Iraq, this September, targeting fully operational status by 2023. At their current planned capacities, they will add 2.9

Asia 418
article thumbnail

EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

Green Car Congress

The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. A new 140,000 b/d refinery is scheduled to come online in Karbala, Iraq, this September, targeting to be fully operational by 2023.

Global 448
article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects. Novatek and its partners Total and Chinese National Petroleum Company still lack $15 billion of the $27 billion needed to finance the Yamal LNG plant. Live by Energy….

Russia 150
article thumbnail

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

Green Car Congress

As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense. in Russian and Soviet history, Soviet economics, and International economics, and MBA in finance and marketing. percentage points. Dalan McEndree has a BA in history, MA in European History, M.Phil.

article thumbnail

Opinion: Oil Megaprojects Won’t Stay On The Shelf For Long

Green Car Congress

The International Energy Agency sees North American shale peaking towards the early part of the 2020s and declining thereafter, all but making it a blip on the radar when looking at oil production from a long-term standpoint. “We Maintaining access to finance can come at a price.

Oil 150
article thumbnail

Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

Green Car Congress

for example, has ended fuel subsidies, thereby essentially, increasing its budget revenues, while Saudi Arabia recently floated a $4-billion domestic bond offering to help finance its budget. They are fighting a multi-front war with Iran directly (in Yemen) and indirectly (in Syria, Lebanon, and Iraq).

article thumbnail

IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil

Green Car Congress

The International Energy Agency (IEA) last week launched the 2011 edition of the World Energy Outlook (WEO), the current edition of its annual flagship publication assessing the threats and opportunities facing the global energy system out to 2035. Click to enlarge. Biofuels make the biggest such contribution, as use grows from 1.3

Oil 247