article thumbnail

EIA expects continued high prices for diesel and home heating oils

Green Car Congress

The US Energy Information Administration (EIA) expects that low inventories of distillate fuels, which are primarily consumed as diesel fuel and heating oil, will lead to high prices through early 2023. Inventories are just one part of the supply equation for diesel and other distillates. EIA forecasts Russia will produce 9.3

Oil 334
article thumbnail

3 Oil Majors That Bet Big On Renewables

Green Car Congress

Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com. 2 Total SA.

Oil 418
article thumbnail

EIA expects record global petroleum consumption in 2024, with lower crude oil prices

Green Car Congress

EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.

article thumbnail

thyssenkrupp Steel, HKM and Port of Rotterdam jointly investigate setting up hydrogen supply chains

Green Car Congress

German steel companies thyssenkrupp Steel and HKM and the Port of Rotterdam will jointly investigate setting up international supply chains for hydrogen. Green hydrogen is a sustainable alternative to coal, oil and natural gas.

Hydrogen 305
article thumbnail

IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

Green Car Congress

Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9

Oil 300
article thumbnail

New catalyst opens door to CO2 capture in coal-to-liquids process

Green Car Congress

World energy consumption projections expect coal to stay one of the world’s main energy sources in the coming decades, and a growing share of it will be used in CT—the conversion of coal to liquid fuels (CTL). By 2020, CTL is expected to account for 15% of the coal use in China. —Wang et al.

Coal 249
article thumbnail

BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

Green Car Congress

Oil remains the world’s leading fuel, but its 33.1% Coal’s market share of 30.3% Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% World primary energy consumption grew by 2.5%

Coal 261