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Report suggests low-speed electric vehicles could affect Chinese demand for gasoline and disrupt oil prices worldwide

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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “ million of them—roughly 30% more units than conventional electric vehicle makers did.

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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

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The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 As for OPEC+, total oil output in 2023 may fall as embargoes and sanctions shut in Russian volumes and producers outside the Middle East suffer further declines. mb/d this year, world oil demand is forecast to expand by 2.2 mb/d to 101.6

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Eni and Petrochina sign MOU to develop business opportunities in China and abroad; focus on conventional and unconventional hydrocarbons in Africa

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Eni signed a Memorandum of Understanding with CNPC/Petrochina, the biggest listed national oil company in the world. In particular, the companies will study common opportunities jointly to expand their operations in conventional and unconventional hydrocarbons in Africa. Eni has been present in China since 1984.

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Europe will miss 2030 chip market goal, says ASML CEO – ET Auto

Baua Electric

But Wennink said China, the world’s second biggest economy and largest industrial manufacturer, imports more semiconductors than oil, and it has nearly bottomless demand for those older chips. billion) in 2023, or 29% of its total, compared to around 4% to Europe, the Middle East and Africa. ASML equipment sales to China hit 6.3

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Hainan Airlines makes China’s first commercial flight with sustainable aviation biofuel

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The regularly scheduled Hainan Airlines flight—which carried more than 100 passengers from Shanghai to Beijing in a Next-Generation 737-800—used biofuel made by Sinopec from waste cooking oil collected from restaurants in China. Boeing also partners with the Commercial Aviation Corp.

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Shell signs new offshore upstream deals with CNOOC and CNPC; China and Gabon

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Shell has signed two offshore oil and gas Production Sharing Contracts (PSCs) with CNOOC, and a PSC amendment with CNPC for a new development phase for the Changbei gas field in China. Shell has also entered an agreement with CNOOC for its participation in two Shell exploration blocks offshore Gabon, West Africa.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Putin has highlighted on various occasions the contribution Russia’s mineral wealth, in particular oil and natural gas, must make for Russia to be able to sustain economic growth, promote industrial development, catch up with the developed economies, and modernize Russia’s military and military industry. percent of GDP in 2014.

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