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GlobalData: Hydrogen market growth to surge in 2023 despite slowing global economy

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Hydrogen development, given its application across various industries, is indispensable to attaining energy transition, meeting decarbonization goals, and positioning leading companies as market experts. During 2022, over 393 deals related to hydrogen were closed, representing a significant increase compared to 277 deals registered in 2021.

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Volkswagen global EV production network grows with launch of second German site in Emden

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Volkswagen is expanding its global production network for electric vehicles by now starting to make the all-electric ID.4 4) and Hanover will also commence production this year. In addition, production of the iconic ID. 4’s start-up is on schedule, despite the global challenges during the two-year conversion phase.

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BMW Group secures CO2-reduced steel for global production network

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Following initial contracts with European suppliers, the BMW Group has now concluded further 2 -reduced-steel-for-global-production-network">agreements for the supply of CO 2 -reduced steel in the US and China. The plan is to use the steel in series production of cars at the BMW Group’s European plants from 2026 onwards.

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EIA expects new production milestones for US crude oil amid sustained global petroleum demand and rising prices

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The US Energy Information Administration (EIA) expects US crude oil production to surpass 12.9 In its August Short-Term Energy Outlook (STEO), EIA forecasts US crude oil production to average 12.8 In its August Short-Term Energy Outlook (STEO), EIA forecasts US crude oil production to average 12.8 million b/d, with 1.2

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Canada releases list of 31 critical minerals; domestic production, global impact

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Canada has released a list of 31 minerals considered critical for the sustainable economic success of Canada and its allies—minerals that can be produced in Canada, are essential to domestic industry and security and have the potential to support secure and resilient supply chains to meet global demand. —Seamus O’Regan Jr.

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Hyundai Motor targeting 7% of global EV market by 2030; 1.87M BEVs

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Under the new plan, the company aims to boost annual global BEV sales to 1.87 million units and secure 7% of global market share by 2030 by strengthening its line-up with 17 new BEV models by 2030; 11 for Hyundai models and 6 for Genesis luxury brand. The innovation will be expanded to global plants in the future.

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S&P Global Commodity Insights raises 10-year production outlook for Canadian oil sands

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Higher crude prices and continued optimization improvements have driven the first upward revision to the S&P Global Commodity Insights 10-year oil sands production outlook in more than half a decade. Capital expenditures for oil sands production in 2022 reached their highest levels since 2015 and could rise further this year.

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