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

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According to EIA’s January Short-Term Energy Outlook (STEO) , global liquid fuel consumption will exceed 100 million barrels per day, on average, in 2023 for the first time since 2019, then average more than 102 million barrels per day in 2024. EIA forecasts US gasoline prices to average around $3.30 per gallon in 2023 and $3.10

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The Next Big Offshore Boom Is About To Happen in Brazil

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The latest demonstration of the viability of deepwater projects, even in the post-2014 oil industry era, comes from none other than Brazil. No wonder, then, that as many as 30 companies took part in the bidding round—the first of a total nine rounds, to take place between now and 2019. Too few, it might seem at first.

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IEA: global CO2 emissions rebounded to their highest level in history in 2021; largely driven by China

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The rebound of global CO 2 emissions above pre-pandemic levels has largely been driven by China, where they increased by 750 million tonnes between 2019 and 2021. Change in CO 2 emissions by fossil fuel, relative to 2019 levels, 2019-2021. CO 2 emissions from natural gas rebounded well above their 2019 levels to 7.5

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BNEF: cost of new renewables rises as inflation starts to bite

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The global benchmark levelized cost of electricity, or LCOE, has retreated to where it was in 2019. The cheapest renewable power projects in the first half of 2022 were able to achieve an LCOE of $19/MWh, as in best-in-class onshore wind farms in Brazil, and $21/MWh for tracking PV farms in Chile, and $57/MWh for offshore wind in Denmark.

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ExxonMobil evaluating significant near-term capital and operating expense reductions; COVID-19

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ExxonMobil is looking to reduce spending significantly as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases. Woods said that ExxonMobil has faced numerous market downturns throughout its long history and has experience operating in a sustained low-price environment. million net acres.

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Eni report: global oil reserves and oil production up in 2018 due to US

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The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry. also rose in Brazil and Norway. Source: Eni World Oil Review 2019. 2018 recorded an overall growth in oil production of 2.5 recorded in 2013-2017.

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Hart Energy: US leading global exporter of ethanol

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The United States now leads Brazil in the export of ethanol, according to Hart Energy’s newly released study, US & Brazil Ethanol Outlook to 2022. Hart Energy projects Brazilian ethanol exports will see wide fluctuations and only return to their 2008 peak in 2019.

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