Remove Global Remove Nigeria Remove Oil Remove United States
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. In the United States, refining capacity has decreased by about 1.1 million b/d in 2022 and by an additional 1.6

Global 448
article thumbnail

IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

Green Car Congress

The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 Global demand is now seen advancing by 1.2 Global demand is now seen advancing by 1.2 Global refinery crude runs plunged to 73.6

article thumbnail

The 5 Countries That Could Push Oil Prices Up

Green Car Congress

Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. Geopolitical tension has been largely irrelevant since the collapse of oil prices in 2014, but it’s making a return now that cracks have emerged in some key oil-producing nations. bank Citi said. “The

article thumbnail

The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

Green Car Congress

OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia’s Manifa problems grabbing the headlines. At the same time, Saudi Arabia’s export volumes have been hit by high local summer demand for crude oil and products. by Cyril Widdershoven for Oilprice.com.

Oil 186
article thumbnail

ExxonMobil brings Kearl oil sands expansion online ahead of schedule; overall capacity doubling to 220K barrels per day

Green Car Congress

Exxon Mobil has started production at its Kearl oil sands expansion project in Alberta, Canada ahead of schedule; the expansion is expected to double overall capacity to 220,000 barrels of bitumen a day, with the expansion itself ultimately expected to reach 110,000 barrels per day. Kearl will access approximately 4.6 Earlier post.).

Oil-Sands 150
article thumbnail

RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

Green Car Congress

However, the US military can play an important role in promoting stability in major oil producing regions and by helping protect the flow of energy through major transit corridors and on the high seas, the reports suggest. Earlier post.). Unless addressed, pipeline security issues will impede investment in Turkey, Bartis suggested.

Price 225
article thumbnail

Chevron announces $32.7B capital and exploratory budget for 2012; LNG and deepwater investments propel a step change

Green Car Congress

By 2017, we expect our net crude oil and natural gas production to grow about 20 percent to 3.3 Our 2012 capital program includes spending of nearly $9 billion in the United States, with major new investments in the deepwater Gulf of Mexico, the Marcellus Shale in Pennsylvania and our refinery at Pascagoula, Mississippi.

Chevron 170