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EIA forecasts crude oil prices will decline through 2023

Green Car Congress

Global oil consumption outpaced oil production for the six consecutive quarters ending with the fourth quarter of 2021 (4Q21), which has led to persistent withdrawals from global oil inventories and significant increases in crude oil prices.

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New Zealand Grandma Builds Her Own EV To Own Big Oil

CleanTechnica EVs

A grandmother in New Zealand found herself mad at oil companies, and one day she decided that she wanted to be done giving them her hard-earned money, so she worked with a friend to build […]. An article in The Guardian shows us that you don’t need $50,000 to buy an EV, even in this market.

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bp starts oil production at Argos platform in the Gulf of Mexico; first new platform since 2008

Green Car Congress

bp has successfully started oil production at its Argos offshore platform, strengthening bp’s position as a leading producer in the deepwater US Gulf of Mexico. Argos is the centerpiece of bp’s Mad Dog Phase 2 project, which extends the life of the super-giant oil field discovered in 1998. Earlier post.) bp is the operator with 60.5%

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LG Chem, Dansuk JV to build Korea’s first next-generation hydro-treated vegetable oil plant

Green Car Congress

LG Chem and Korean biodiesel producer and exporter Dansuk Industrial will form a joint venture to build Korea’s first next-generation hydro-treated vegetable oil (HVO) plant. HVO is a next-generation bio-oil produced through hydro-treatment of vegetable raw materials such as waste cooking oil and palm by-products.

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EIA forecasts rising global oil production will limit price increases

Green Car Congress

In the June Short-Term Energy Outlook (STEO), the US Energy Information Administration (EIA) forecasts that rising global production of petroleum and other liquid fuels (driven by OPEC, Russia, and the United States) will limit price increases for global crude oil benchmarks Brent and West Texas Intermediate (WTI). million b/d in 2021 and 11.5

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Benchmark: Saudi Arabia is building an EV battery supply chain

Green Car Congress

Saudi Arabia’s ambitions for an EV supply chain are part of the diversification of the national economy away from oil, a project guided by the government’s Vision 2030 reform plan announced in 2016. Rabigh Refining & Petrochemical Company will supply feedstock in the form of decant oil. Earlier post.) Earlier post.)

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Neste studying transitioning Porvoo refinery to a renewable & circular site; ending crude oil refining in mid-2030s

Green Car Congress

Building on its capability of proactive transformation, Neste has initiated a strategic study on transitioning its refinery in Porvoo, Finland to non-crude oil refining and into a globally leading renewable and circular solutions site. The refining capacity of crude oil is approximately 10.5 Porvoo refinery. million ton/a.

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