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Oil price collapse hurting some more than others

Green Car Congress

US oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending. With weak demand, drillers can negotiate down rig prices.

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

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Chiyoda Corporation, which is headquartered in Japan, will serve as NTU’s key partner in the project, and will offer technical contribution based on their proprietary dehydrogenation catalyst technology, SPERA Hydrogen ( earlier post ), to the University to be developed and implemented on a national scale.

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TransCanada terminates Energy East Pipeline and Eastern Mainline projects

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TransCanada Corporation is halting the application process for its proposed Energy East Pipeline and Eastern Mainline projects in Canada. million barrels of crude oil per day from Alberta and Saskatchewan to the refineries of Eastern Canada and a marine terminal in New Brunswick.

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IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

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Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 The oil market fear that characterized March and the extreme price pressure that producers felt in April have galvanized producers across North America into unprecedented action.

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$67 Oil Has All The Majors Converging in Argentina

Green Car Congress

Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices.

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Panasonic Group confirms it will supply Li-ion batteries for Toyota Prius Plug-in Hybrid

Green Car Congress

The Panasonic Group will supply the lithium-ion batteries for Toyota Motor Corporation’s Prius Plug-in Hybrid. Given the growing public concern for conserving the environment and escalating oil prices, the demand for rechargeable batteries for eco-friendly vehicles is expected to grow rapidly. Earlier post.)

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EIA: world petroleum use sets record high in 2012 despite declines in North America and Europe

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In 2011 and 2012, higher oil prices and increased fuel efficiency of light-duty vehicles contributed to reduced US consumption. Increased consumption in 2010 reflected improving economic conditions.