Green Car Congress

JULY 21, 2022

Global demand for refined products dropped substantially in 2020 as a result of the COVID-19 pandemic. Less petroleum demand and the associated lower petroleum product prices encouraged refinery closures, reducing global refining capacity, particularly in the United States, Europe, and Japan.

Global 448

Global China Kuwait Oman 448

Green Car Congress

MARCH 20, 2011

The Chinese government recently granted final approval for a joint venture project between Kuwait Petroleum Corporation (KPC) and China Petroleum and Chemical Corporation (Sinopec), one of the world’s largest refiners, to build a world-class refinery and petrochemical complex in south China.

Kuwait 186

Kuwait Saudi Arabia China 2014 186

Green Car Congress

OCTOBER 6, 2015

Russia supplied about 30 percent (146.6 The Saudi decision to let the market set prices and to pursue market share, has led to steep declines in crude and petroleum product prices. They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects. mmbbl/day) in 2013.

Russia 150

Russia Saudi Arabia Iran Iraq 150

Green Car Congress

AUGUST 25, 2015

While the IEA projects surplus production will begin to recede in 2H 2016, they are suffering now (and in any case, it is a projection). The Saudis sold their change to their fellow OPEC members as being in OPEC’s general interest. Moreover, Saudi policy, combined with the impact of U.S. million barrels/day in 2014 to 7.55 MMbbls/day.

Saudi Arabia 150

Saudi Arabia Russia Oil 2015 150