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

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The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. EIA also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana.

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

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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

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IEA: record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

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Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency’s latest annual report on oil markets.

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EPA issues fuel waiver for four states impacted by bp Whiting Refinery shutdown

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As part of the Federal Government’s response to a fire and shutdown at the bp Whiting Refinery in Whiting, Indiana, US Environmental Protection Agency (EPA) Administrator Michael Regan issued an emergency fuel waiver to help alleviate fuel shortages in four states the supply of gasoline of which has been impacted by the refinery shutdown.

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AustroCel Hallein supplying OMV with celluosic ethanol

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The first successful trial delivery of advanced cellulosic ethanol marks the start of the long-term cooperation between OMV, the integrated, international oil, gas and petrochemicals company headquartered in Vienna, and AustroCel Hallein GmbH. In the first year AustroCel Hallein will supply more than 1.5

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President Biden calls on Congress, States for fuel tax holiday; increase in refinery capacity

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President Biden called on Congress to suspend the federal gas tax for the next 90 days, through the busy summer driving season—18 cents per gallon for gasoline and 24 cents per gallon for diesel. He also continued his calls for the oil industry to increase refinery capacity to increase production.

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Sinopec Xinjiang Kuqa green hydrogen pilot project enters operation

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As China’s first green hydrogen demonstration project of over 10,000-tonne capacity and based on solar power, it is expected to produce 20,000 tonnes of green hydrogen per year that will be supplied to Sinopec’s Tahe refinery. Tahe has crude oil processing capacity of 5 million tons per year, coking capacity of 2.6

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