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EIA: China is now the world’s largest net importer of petroleum and other liquid fuels

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The rise in China’s net imports of petroleum and other liquids is driven by steady economic growth, with rapidly rising Chinese petroleum demand outpacing production growth. In the meantime, Chinese production will increase at a much lower rate (5% over this period) and is forecast to be only one-third of US production in 2014.

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Pensana plans $125M rare earth separation facility in England

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The Saltend plant would purify rare earth sulfates, which would be imported from the company’s Longonjo mine in Angola. Lynas Corporation of Australia, currently the world’s largest non-Chinese producer, last year produced around 4,700 tonnes of magnet metal oxides from its facility in Malaysia.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Novatek and its partners Total and Chinese National Petroleum Company still lack $15 billion of the $27 billion needed to finance the Yamal LNG plant. naval power, the Chinese, for example, prefer pipeline natural gas supplies over seaborne LNG supplies. This could lead the Europeans and Chinese to search for other suppliers.

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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Canada, Mexico (foreign investment), and also Russia (Chinese investment), that will have the financial wherewithal to grow output to satisfy the 18 million barrel per day increase in demand that OPEC sees by 2040. While all OPEC members, including Saudi Arabia, have suffered from the Saudi decision, they have not shared the pain equally.