Remove Asia Remove Building Remove Oil Prices Remove Price
article thumbnail

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

Green Car Congress

The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 Preliminary data for May show total OECD stocks building by 6 mb.

Oil 210
article thumbnail

RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

Green Car Congress

Considering that the United States produces over 8 million barrels of oil per day domestically and imports an additional 3 million bpd from secure supplies in Canada and Mexico, we can find no credible scenario in which the military would be unable to access the 340,000 bpd of fuel it needs to defend the nation. Additionally, U.S.

Price 225
article thumbnail

Saudis Expand Price War Downstream

Green Car Congress

With Saudi Arabia's refined fuel contributing to the global supply glut, what will be its impact on the refining markets especially those in Asia? The gross refining margin is nothing but the difference between the value of the refined products and price of the crude oil. So, who will reap the benefits of the low prices?

article thumbnail

NTU Singapore to develop technologies to extract hydrogen from liquid organic hydrogen carriers

Green Car Congress

In addition, the Japanese government is supporting Singapore’s energy transition by leveraging on Japanese companies’ technologies such as Chiyoda’s SPERA Hydrogen under the Asia Energy Transition Initiative. The project builds on previous work by the group of companies, along with researchers from NTU and the NUS.

Singapore 150
article thumbnail

Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

Green Car Congress

In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. Prices rebounded to $60 for a few months, before falling once again below $50.

article thumbnail

Lux: Total is leading example of oil supermajor expanding into solar plus storage and distributed generation

Green Car Congress

Expanding into an area outside of the oil supermajors’ expertise is risky—batteries are a hard business to win even for industry veterans—but action is key as transportation and the grid increasingly march toward more electrification, Lux suggests. Asia challenges loom for battery acquirers.

Oil 150
article thumbnail

Global biofuels production up 17% in 2010 to hit all-time high of 105 billion liters

Green Car Congress

High oil prices, a global economic rebound, and new laws and mandates in Argentina, Brazil, Canada, China, and the United States, among other countries, are all factors behind the surge in production, according to research conducted by the Worldwatch Institute’s Climate and Energy Program for the website Vital Signs Online.

2010 256