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IHS Markit: global oil demand still growing in the short term despite increasing focus on EVs

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Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider. Source: IHS Markit 2018. —Spencer Welch.

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EIA: world petroleum use sets record high in 2012 despite declines in North America and Europe

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The world’s consumption of gasoline, diesel fuel, jet fuel, heating oil, and other petroleum products reached a record high of 88.9 In 2009, Asia surpassed North America as the world’s largest petroleum-consuming region as consumption rebounded from its 2008 decline. Between 2008 and 2012, Asia’s consumption increased by 4.4

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

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ExxonMobil Corporation announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. billion recoverable oil-equivalent barrels. Wood Mackenzie currently expects around 350,000-400,000 b/d of oil production (just oil, not factoring in natural gas) by 2026 from there.

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PNNL study finds algal oil could replace 17% of US petroleum oil imports

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A new Pacific Northwest National Laboratory (PNNL) study shows finds that oil from algae grown in outdoor raceway ponds located in the Gulf Coast, the Southeastern Seaboard and the Great Lakes could replace 17% of the United States’ imported oil for transportation. —Mark Wigmosta, lead author and a PNNL hydrologist.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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BP begins shipping crude oil for US West Coast through transPanama Pipeline

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BP Products North America Inc. has started shipping crude oil bound for the US West Coast through Petroterminal de Panama ( PTP )’s trans-Panama pipeline, marking the start of a seven-year transportation and storage agreement between BP and PTP. Under the terms of the agreement, BP has leased a total of 5.4

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EIA Estimates 2.1% Growth in Fossil Fuel CO2 Emissions in US in 2010; Still Below 1999-2008 Levels

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However, even with increases in 2010 and 2011, projected CO 2 emissions in 2011 are lower than annual emissions from 1999 through 2008. EIA projects that world oil consumption will grow by 1.5 Most of the growth in oil consumption is expected in the Asia-Pacific and Middle East regions. US crude oil production averaged 5.32

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