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US crude oil production averaged 11.3 million barrels per day (b/d) in 2020, down 935,000 b/d (8%) from the record annual average high of 12.2 The 2020 decrease in production was the largest annual decline in the EIA’s records. The production decline resulted from reduced drilling activity related to low oil prices in 2020.
Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51
bp released the 70 th annual edition of the bp Statistical Review of World Energy ; the data collected in this year’s edition includes energy data for 2020. in 2020—the largest annual decline since 1945. Carbon emissions from energy use fell by more than 6% in 2020, the largest decline since 1945. million b/d). The US (-2.3
The price of US benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020 as demand returns faster than supply, according to the US Energy Information Administration (EIA). US crude oil inventories were 440.3 million barrels by the end of June 2020.
Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9
In 2020, net petroleum imports (total imports minus exports) were negative for the first time since the US Energy Information Administration began tracking them—i.e., This includes crude oil and petroleum products. the United States exported more petroleum than it imported. Net imports peaked in 2005 at 12.5
In 2020, total consumption of fossil fuels in the United States, including petroleum, natural gas, and coal, fell to 72.9 2020 marked the largest annual decrease in US fossil fuel consumption in both absolute and percentage terms since at least 1949, the earliest year in the EIA annual data series.
In this analysis, I examined the relation between crude-oil production and crude-oil reserves in the world overall and in the United States alone. The variable of interest was the amount of crude oil produced as a percentage of proved reserves of crude oil. For the world, production of crude oil in 1980 represented 3.4%
The fuel is produced from materials such as used oil from restaurants and the food industry. The first car freighter was refueled for the first time with this oil in mid-November 2020 and a second ship is due to follow at the beginning of 2021. This way, we reuse waste oil in an environmentally compatible way.
The International Energy Agency’s Monthly Oil Statistics shows that there are differences in refinery output throughout the world. Source: International Energy Agency, Monthly Oil Statistics, February 2020, Paris, France., When processing petroleum, refineries can produce products in varying amounts to meet regional demands.
In 2021, the United States returned to importing more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it exports following its historic shift to being a net exporter of petroleum in 2020, according to the US Energy Information Administration (EIA). million b/d. million b/d. million b/d in 2023.
China processed record amounts of crude oil in 2021 to meet rising domestic consumption of petroleum products, according to analysis by the US Energy Information Administration (EIA). According to China’s National Bureau of Statistics, China processed a record 14 million barrels per day (b/d) of crude oil in 2021, a 4.6%
The California Air Resources Board (CARB) Executive Officer has certified the 2020 annual update to the carbon intensities (CI) of the lookup table pathways for a) California Average Grid Electricity Used as a Transportation Fuel in California and b) Electricity Supplied under the Smart Charging or Smart Electrolysis Provision. gCO 2 e/MJ.
bp has agreed to sell its 50% interest in the Sunrise oil sands project in Alberta, Canada, to Calgary-based Cenovus Energy, the other owner of the Sunrise project. In Canada, bp will no longer have interests in oil sands production and will shift its focus to future potential offshore growth. 650 water depth.
Argonne National Laboratory’s Systems Assessment Center has released the 2020 version of the suite of GREET models and associated documentation. The following low-carbon alternative ammonia production pathways have been implemented in GREET 2020 release. road, air, marine, and rail) and other end-use sectors, and energy systems.
Canadian oil sands production is expected to decline by nearly 175,000 barrels per day (b/d) in 2020 as a result of COVID-19—the largest annual decline on record. The new forecast by the IHS Markit Oil Sands Dialogue , which takes into account the “COVID-19 shock,” projects Canadian oil sands production to reach 3.8
A new analysis by European environmental NGO Transport & Environment finds that Europe burns more than 17,000 tonnes of rapeseed and sunflower oil every day—the equivalent of 19 million 1-liter bottles. Supermarkets have had to ration vegetable oils and prices are soaring. In a time of scarcity we must prioritize food over fuel.
The data speaks to a major problem for the petroleum industry and oil prices as it recovers from unprecedented demand declines for most of 2020. A persistent rebound in global oil markets requires profitability in transportation products. and 1.1%, respectively. But that won’t happen until demand recovers.
trillion cubic feet (Tcf) in 2021, a 32% increase from 2020, according to the US Energy Information Administration’s (EIA’s) recently released Proved Reserves of Crude Oil and Natural Gas in the United States, Year-End 2021 report. per million British thermal units in 2021, almost doubling from 2020, according to data from Refinitiv.
The International Maritime Organization (IMO) Sub-Committee on Pollution Prevention and Response (PPR) has agreed to move forward with a prohibition on the carriage of high-sulfur fuel oil for use on board ships, when that fuel oil is not compliant with a new low-sulfur limit which comes into force from 2020. of MARPOL Annex VI.
By 2030, oil demand could hit a peak and then enter decline, according to a new report. For the next decade or so, oil demand should continue to grow, although at a slower and slower rate. According to Bank of America Merrill Lynch, the annual increase in global oil consumption slows dramatically in the years ahead.
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.
Each year, the California Air Resources Board (ARB) posts the Annual Crude Average carbon intensity for crude oil delivered to California refineries. In 2020, although the volume of crude supplied to refineries dropped to 476,730,992 barrels from 584,313,143 the year before, the average carbon intensity (CI) rose to 13.41 gCO 2 e/MJ.
After declining in 2020, the combined production of US fossil fuels (including natural gas, crude oil, and coal) increased by 2% in 2021 to 77.14 Crude oil accounted for 30%, coal for 15%, and natural gas plant liquids (NGPLs) for 9%. In 2020, US coal production had fallen to its lowest level since 1964.
In 2021, proved reserves of natural gas set a new record in the United States, and proved reserves of crude oil and lease condensate increased, but not quite to pre-pandemic levels, according to the US Energy Information Administration (EIA). per barrel in 2020 to $66.26 per million British thermal units (MMBtu) in 2020 to $3.67/MMBtu
Every year, the California Air Resources Board (ARB) posts an Annual Crude Average carbon intensity calculation, using the the Oil Production Greenhouse Gas Emission Estimator (OPGEE) Model. Crude oil from California, Alaska and 11 countries account for 95% of the volume supplied to California in any given year. Source: CARB.
Scientists from ExxonMobil, the Georgia Institute of Technology and Imperial College of London have published in the journal Science joint research on potential breakthroughs in a new membrane technology that could reduce emissions and energy intensity associated with refining crude oil. —Thompson et al.
Includes crude oil and petroleum products, such as gasoline, diesel and jet fuel. Source: US Energy Information Administration, May 2020 Monthly Energy Review, June 2020, Table 3.3f. Japan and South Korea were the next highest destinations, each receiving 7% of US petroleum exports.
They found that under the reference infection scenario, US gasoline demand grows slowly after a quick rebound in May, and is unlikely to recover to a non-pandemic level prior to October 2020. Therefore, beyond the immediate economic responses, the longer-term impact on the US economy may persist well beyond 2020.
million metric tons of carbon dioxide equivalents after accounting for sequestration from the land sector—representing a 6% increase from 2020. For this latest release, EPA has made several improvements, including updates to estimates for oil and gas and for flooded lands such as hydroelectric and agricultural reservoirs.
The latest crash in oil prices once again raises this prospect. On the one hand, lower oil prices – despite the recent rebound, prices are still down sharply from a few months ago – can cause some E&Ps to want to hold off on drilling new wells. It’s really 2020 and 2021.”. The calculus on completing wells can cut two ways.
A Northwestern Engineering-led team has developed a highly porous smart sponge that selectively soaks up oil in water. With an ability to absorb more than 30 times its weight in oil, the sponge could be used to clean up oil spills inexpensively and efficiently without harming marine life. —Vikas Nandwana.
Toyota introduced the next-generation three-row 2020 Highlander SUV at the New York International Auto Show. Arriving in Toyota dealerships in winter, the Highlander gasoline model will arrive in December 2019 and the Highlander Hybrid will make its way to customers in February 2020. Hybrid AWD.
The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which has encountered 167 feet (51 meters) of net pay in high-quality oil-bearing sandstone reservoirs.
The Covid-19 crisis in 2020 triggered the largest annual drop in global energy-related carbon dioxide emissions since the Second World War, according to IEA data, but the overall decline of about 6% masks wide variations depending on the region and the time of year. China was the only major economy that grew in 2020.
In the first half of 2022, motors with oil cooling became the dominant form in the electric car market, taking 50% market share, according to a report from IDTechEx. IDTechEx is predicting oil to gain an even greater market share with purely water jacket-cooled motors remaining in a significant way. This is where oil cooling comes in.
The first flight of the prototype is scheduled for 2020. On the eve of its 50 th anniversary earlier this month, Embraer unveiled images of a demonstrator aircraft with 100% electric propulsion technology, which is currently under development in collaboration with WEG. The electric prototype is based on the EMB-203 Ipanema.
France’s Constitutional Council, the highest constitutional authority in the country, ruled in favor of excluding palm oil from the list of biofuels that enjoy tax incentives. The decision enters into force on 1 January, 2020. Oil company Total has estimated it is worth between €70 million and €80 million per year.
By making use of a previously undesired side effect in oil recovery, researchers at Tokyo University of Agriculture and Technology (TUAT) have developed a method that yields up to 20% more heavy oil than traditional methods. Generally, less than 10% of heavy oil may be produced from reservoirs by natural flow after drilling the well.
Additionally, Governor Newsom requested that the California Air Resources Board (CARB) analyze pathways to phase out oil extraction across the state by no later than 2045. California’s production of oil has been steadily dropping since 1985. According to the California Energy Commission, California oil represented 34.9%
In an EU-funded research project, an international consortium is aiming to develop new production methods for sustainable marine fuels to replace heavy fuel oils in shipping. This is cost competitive with Ultra-Low Sulfur Fuel Oil (ULSFO) which current, 2019, price level is €450-550/tonne. The participants are Vertoro B.V. (NL);
In August 2020, Phillips 66 announced that it planned to reconfigure its San Francisco Refinery in Rodeo, California, to produce renewable fuels. The plant will no longer produce fuels from crude oil, but instead will make fuels from used cooking oil, fats, greases and soybean oils. Earlier post.).
ExxonMobil announced an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana ( earlier post ). Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels. Source: ExxonMobil. Earlier post.)
Leading short sea ro-ro operator UECC and sustainable marine biofuel pioneer GoodFuels have launched a joint trial of GoodFuels Bio-Fuel Oil (MR1-100 or BFO) on UECC’s ro-ro vessel M/V Autosky. The biobunkering, which will take place in the Port of Rotterdam, will be the first in a series of bunkering operations between March and May 2020.
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