Energy, International, Oil and Supplies

EIA: International demand will drive US production of petroleum and other liquids through 2050

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APRIL 5, 2023

Strong continuing international demand for petroleum and other liquids will sustain US production above 2022 levels through 2050, according to most of the cases in the US Energy Information Administration’s (EIA’s) Annual Energy Outlook 2023 (AEO2023).

International

International Oil Prices Production Oil

Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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APRIL 1, 2022

In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. Background.

Oil

Oil Ukraine Libya Iraq

IEA issues 10-point plan to cut oil use

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MARCH 20, 2022

In the face of the emerging global energy crisis triggered by Russia’s invasion of Ukraine and the countervailing barrage of economic sanctions, the International Energy Agency (IEA) is proposing a 10-Point Plan to Cut Oil Use. IEA claims that its plan would lower oil demand by 2.7

Oil

Oil Ukraine Economy Global

MAN Energy to supply engines for Finnlines hybrid RoRos; 100% increase in efficiency

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APRIL 18, 2020

MAN Energy Solutions has won the order to supply six MAN B&W 9S50ME-C9.6 These will use fuel-oil during navigation and lithium mega-batteries in harbor, thus guaranteeing zero emissions in port—and meeting the Registro Italiano Navale (RINA) Green Plus class notation—while still satisfying energy requirements at berth.

Supplies

Supplies Engine Hybrid Energy

Study finds carbon emissions benefits of reduction in oil demand depend on size of drop and global oil market structure

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NOVEMBER 4, 2021

New research led by Mohammad Masnadi, assistant professor of chemical and petroleum engineering at the University of Pittsburgh Swanson School of Engineering, offers a closer look at the relationship between decreasing demand for oil and a resilient, varied oil market—and the carbon footprint associated with both.

Oil

Oil Carbon Global Market

Siemens Energy secures 50 MW electrolyzer order from European Energy for first large-scale eMethanol project

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MARCH 3, 2022

European Energy , a Danish developer and operator of green energy projects, has ordered a 50 MW electrolyzer from Siemens Energy for use in developing the first large-scale commercial e-Methanol production facility. —Knud Erik Andersen, CEO of European Energy.

Energy

Energy Denmark Gas-Electric Fuel

S&P Global: increasing trade of low-carbon biofuel feedstocks heightens supply constraint concerns

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JUNE 8, 2023

Animal fats and used cooking oil are increasingly joining the likes of lithium, cobalt and copper as energy transitional materials where supply constraints are of growing concern, according to a new analysis of trade flows by S&P Global Commodity Insights Agribusiness Consulting group.

Carbon

Carbon Supplies Global North America

EIA expects US petroleum trade to shift toward net imports during 2022

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FEBRUARY 20, 2022

In 2021, the United States returned to importing more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it exports following its historic shift to being a net exporter of petroleum in 2020, according to the US Energy Information Administration (EIA). million b/d. million b/d in 2023. million b/d.

United States

United States Oil 2020 International

Ammonia market to triple by 2050 with nearly all growth coming from low-carbon supply; shift to energy markets

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JULY 12, 2023

The rapid growth in ammonia driven by low-carbon supplies will change the current market beyond recognition. The diversification of supply routes and demand applications will introduce carbon capture, renewables, power utility and shipping market participants to an industry currently dominated by fertilizer producers.

Market

Market Carbon Supplies Insight

First hydrogen supply chain demonstration project using MCH to transport H2 starts

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JUNE 30, 2020

The Advanced Hydrogen Energy Chain Association for Technology Development (AHEAD) has started the world’s first international demonstration operation to transport hydrogen using methylcyclohexane. In the consumer country, hydrogen is extracted from MCH by a dehydrogenation reaction and supplied as hydrogen gas. Earlier post.).

Brunei

Brunei Hydrogen Supplies Transportation

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

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MARCH 10, 2020

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

Oil 2020 Global Market

British Airways, Phillips 66 sign sustainable aviation fuel supply agreement

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DECEMBER 5, 2021

British Airways and Phillips 66 Limited have entered into a multi-year supply agreement for sustainable aviation fuel produced at the Phillips 66 Humber Refinery, making the airline the first in the world to use SAF produced in the UK. The SAF will be supplied to British Airways to power a number of its flights from early 2022.

Supplies

Supplies Fuel Waste Carbon

IEA forecasts world oil demand to hit record 101.9 million b/d in 2023; non-OECD to account for 90% of growth

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APRIL 15, 2023

In its April Oil Market Report , the International Energy Agency (IEA) forecasts that world oil demand will climb by 2 mb/d in 2023 to a record 101.9 Extra cuts by OPEC+ will push world oil supply down 400 kb/d by end of 2023. For the year as a whole, global oil production growth slows to 1.2

Oil

Oil Ukraine Russia Brazil

Shell Aviation, World Energy collaborate to increase supply of sustainable aviation fuel; SAF to Lufthansa at SFO

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JANUARY 10, 2020

Shell Aviation and World Energy are collaborating to develop a scalable supply of sustainable aviation fuel (SAF). As part of the collaboration, Shell Aviation and World Energy also announced that they have initiated the supply of SAF to Lufthansa Group at San Francisco International Airport (SFO).

Supplies

Supplies San Francisco Fuel Energy

Equinor contracts for first green-ammonia-fueled supply vessel; 2MW SOFC

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JANUARY 24, 2020

Norway-based energy company Equinor has contracted with Eidesvik Offshore for the Viking Energy supply vessel, which is being retrofitted to make it capable of covering long distances fueled by carbon-free ammonia. The vessel will transport supplies to installations on the Norwegian continental shelf (NCS).

Supplies

Supplies Fuel Green 2003

Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

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APRIL 15, 2017

shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oil price forecasts by Wall Street’s major investment banks. In recent years, U.S.

Oil

Oil Supplies Oil Prices 2017

Aemetis finalizes $7B of supply contracts for 100% of Riverbank Plant Production of SAF and RD for up to 10 years

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SEPTEMBER 8, 2022

a renewable fuels company focused on negative carbon intensity products, announced that $7 billion of sustainable aviation fuel (SAF) and renewable diesel (RD) supply agreements have been signed with 10 airlines for a total of 916 million gallons of blended SAF. Aemetis, Inc.,

Supplies

Supplies San Francisco Los Angeles Production

IEF, IHS Markit: deepening underinvestment in hydrocarbons raises specter of continued price shocks and volatility

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DECEMBER 12, 2021

Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. Investment slumped by 30% in 2020.

Price

Price Oil Asia Gas

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

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MARCH 6, 2018

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.

Brazil

Brazil Norway Oil Canada

IEA: governments must act to ensure sufficient supply of critical minerals to meet net-zero goals

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MAY 6, 2021

The special report, The Role of Critical Minerals in Clean Energy Transitions , is the most comprehensive global study to date on the central importance of minerals such as copper, lithium, nickel, cobalt and rare earth elements in a secure and rapid transformation of the global energy sector. Source: IEA. Source: IEA. Source: IEA.

Supplies

Supplies Climate Wind Clean

IEA says oil supplies may not keep up with demand

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NOVEMBER 15, 2014

Despite what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades. Global oil demand is expected to increase by 37 percent by 2040, with a dominant proportion of that coming from developing countries—i.e. China and India.

Oil

Oil Iraq Oil-Sands Supplies

Siemens targeting Li-ion energy storage for marine and offshore oil and gas applications; 6MW system to West Mira rig

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JANUARY 31, 2019

As part of a strategy to continue providing low-emissions solutions for harsh offshore operating environments, Siemens has opened a fully robotized and digitalized plant in Norway that will develop and manufacture energy storage technologies for both marine and offshore oil and gas applications. Copyright: Neil Robertson.

Energy Storage

Energy Storage Mariner Li-ion Oil

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

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SEPTEMBER 3, 2021

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.

Oil

Oil Building Waste International

AustroCel Hallein supplying OMV with celluosic ethanol

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DECEMBER 21, 2020

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

Supplies

Supplies Renewable Austria 2001

The $32-Trillion Push To Disrupt The Entire Oil Industry

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FEBRUARY 28, 2019

Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. by Cyril Widdershoven for Oilprice.com.

Oil

Oil Industrial Industry Financing

IEA: COVID-19 crisis causing the biggest fall in global energy investment in history

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MAY 31, 2020

The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report. —Dr Fatih Birol, the IEA’s Executive Director.

Global

Global Energy Coal 2020

Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

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MAY 24, 2017

As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil.

Oil Prices

Oil Prices Oil Saudi Arabia Price

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

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MAY 10, 2021

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

Hydrogen Supplies Coal Stimulus

MAN reports successful first running of ammonia two-stroke engine

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JULY 14, 2023

MAN Energy Solutions announced the successful first running of a test engine on ammonia at its Research Centre Copenhagen (RCC). —Gunnar Stiesch, Chief Technical Officer, MAN Energy Solutions MAN Energy Solutions reports that safety has been of paramount importance at all stages leading to the new milestone.

Engine

Engine Mariner Water Oil

IEA: global energy investment stabilized above $1.8T in 2018; security and sustainability concerns growing

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MAY 14, 2019

Global energy investment stabilized in 2018, ending three consecutive years of decline, as capital spending on oil, gas and coal supply bounced back while investment stalled for energy efficiency and renewables, according to the International Energy Agency’s latest annual review.

2018

2018 Global Energy Coal

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

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JUNE 23, 2022

He also continued his calls for the oil industry to increase refinery capacity to increase production. According to the US Energy Information Administration (EIA), as of 13 June 2022, the average price of US regular gasoline was $5.006 per gallon, up $1.937 from a year ago. (An State gas taxes average another 30 cents per gallon.

Congress

Congress Fuel Tax Tax Fuel

Rio Tinto secures direct container service from Pilbara to Singapore

Green Car Congress

FEBRUARY 21, 2021

Mining major Rio Tinto has secured a new commercial freight shipping service connecting Western Australia’s Pilbara region to the major international shipping hub of Singapore. The vessel delivered essential maintenance supplies for Rio Tinto Iron Ore’s operations in the Pilbara, including rail wagon wheels, wagon parts, oil and lubricants.

Singapore

Singapore Connect Connected Australia

EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

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DECEMBER 16, 2013

Energy consumption by light-duty vehicles in the United States, AEO2013 and AEO2014, 1995-2040 (quadrillion Btu). LDV energy consumption declines in AEO2014 Reference case from 16.0 Delivered energy demand for heavy-duty vehicles (HDVs) in AEO2014 increases from 5.3 HDV energy demand is tempered somewhat by an average 0.5%

Oil

Oil Light Energy Vehicles

TransCanada to proceed with $12B, 1.1M barrel/day Energy East oil pipeline project to Eastern Canada

Green Car Congress

AUGUST 1, 2013

million barrel per day (bbl/d) Energy East Pipeline project based on binding, long-term contracts received from producers and refiners. The Energy East Pipeline will have a capacity of approximately 1.1 Energy East Pipeline conceptual route map. TransCanada Corporation is moving forward with the 1.1 Click to enlarge.

Canada

Canada Oil Oil-Sands Energy

Goodyear unveils 90% sustainable-material demonstration tire, approved for road use

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JANUARY 6, 2023

This demonstration tire has passed all applicable regulatory testing as well as Goodyear’s internal testing. In addition, after announcing the capability to demonstrate a 70% sustainable-material tire in January 2022, Goodyear, working with its supply base, plans to sell a tire with up to 70% sustainable-material content in 2023.

Oil

Oil Carbon Polymer Renewable

Malaysia Airlines flies first flight in Malaysia using sustainable aviation fuel

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DECEMBER 19, 2021

The flight marks Malaysia Airlines’ commitment to make SAF the cleaner and more viable energy option for regular flights by 2025. Neste MY Sustainable Aviation Fuel is produced from sustainably-sourced, 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste.

Malaysia

Malaysia Fuel Waste Cleaner

IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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DECEMBER 11, 2013

The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 Global oil supplies increased by 310 kb/d in November to 92.3 Year-on-year, November supplies rose by 810 kb/d, as a 1.9

United Arab Emirates

United Arab Emirates 2014 Oil Supplies

The Next Oil Price Spike May Cripple The Industry

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AUGUST 25, 2017

Two diametrically opposed views dominate the current debate about where the oil price is heading. On the other hand, however, there is the view that the price of oil is set to explode, primarily due to underinvestment in the upkeep of brownfields , development of greenfields , and exploration for new resources. We will explain.

Oil Prices

Oil Prices Oil Industrial Industry

GECF: more than a quarter of 2050 natural gas supply untapped

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NOVEMBER 2, 2020

Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. To this end, the GECF Secretary General reiterated the GECF’s readiness to support the Turkmen industry as it undergoes transformation on the back of the future energy trends, digitalization, and climate action. —Secretary General Sentyurin.

Turkmenistan

Turkmenistan Equatorial Guinea United Arab Emirates Gas

Lawrence Livermore publishes state-by-state energy/water Sankey diagrams

Green Car Congress

APRIL 20, 2018

For the first time, Lawrence Livermore National Laboratory (LLNL) has published state-by-state energy and water Sankey diagrams in one location so that analysts and policymakers can find all the information they need in one place. General location of energy and water categories. Energy and water generally “flows” from left to right.

Water

Water Energy Coal Gas-Electric

DOE to award $9M to promote consensus on future fossil energy technologies

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JULY 20, 2014

The US Department of Energy’s (DOE) Office of Fossil Energy will award $9 million over five years to organizations to assist it in building domestic and international consensus on future fossil energy technologies ( DE-FOA-0001111 ). Carbon Capture and Storage and Clean Energy Systems.

Energy

Energy Future Oil Gas

Neste-led project verified 50% methane emission reduction at palm oil mills using belt filter press

Green Car Congress

MARCH 2, 2018

Crude palm oil is one of the more than ten renewable raw materials that Neste uses to produce a range of renewable products, including renewable diesel. Palm oil represents approximately 20% of Neste’s renewable raw material usage annually. The field work was conducted by Meo Carbon Solutions. Schematic of a belt filter press.

Oil

Oil Emissions Malaysia Indonesia

EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

Green Car Congress

JULY 21, 2022

The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. In its June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0 million b/d in 2023.

Global

Global China Kuwait Oman

Carinata now a listed feedstock for CORSIA HEFA Sustainable Aviation Fuels

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APRIL 27, 2021

A recent update by The International Civil Aviation Organization (ICAO) now includes carinata as a renewable fuel feedstock for hydroprocessed esters and fatty acids (HEFA) sustainable aviation fuel (SAF) with a similar greenhouse gas (GHG) footprint as waste and residuals, such as used cooking oil, for the same fuel type. Data: ICAO.

Fuel

Fuel Waste Renewable Brazil

EIA: International demand will drive US production of petroleum and other liquids through 2050

Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

IEA issues 10-point plan to cut oil use

MAN Energy to supply engines for Finnlines hybrid RoRos; 100% increase in efficiency

Study finds carbon emissions benefits of reduction in oil demand depend on size of drop and global oil market structure

Siemens Energy secures 50 MW electrolyzer order from European Energy for first large-scale eMethanol project

S&P Global: increasing trade of low-carbon biofuel feedstocks heightens supply constraint concerns

EIA expects US petroleum trade to shift toward net imports during 2022

Ammonia market to triple by 2050 with nearly all growth coming from low-carbon supply; shift to energy markets

First hydrogen supply chain demonstration project using MCH to transport H2 starts

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

British Airways, Phillips 66 sign sustainable aviation fuel supply agreement

IEA forecasts world oil demand to hit record 101.9 million b/d in 2023; non-OECD to account for 90% of growth

Shell Aviation, World Energy collaborate to increase supply of sustainable aviation fuel; SAF to Lufthansa at SFO

Equinor contracts for first green-ammonia-fueled supply vessel; 2MW SOFC

Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

Aemetis finalizes $7B of supply contracts for 100% of Riverbank Plant Production of SAF and RD for up to 10 years

IEF, IHS Markit: deepening underinvestment in hydrocarbons raises specter of continued price shocks and volatility

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

IEA: governments must act to ensure sufficient supply of critical minerals to meet net-zero goals

IEA says oil supplies may not keep up with demand

Siemens targeting Li-ion energy storage for marine and offshore oil and gas applications; 6MW system to West Mira rig

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

AustroCel Hallein supplying OMV with celluosic ethanol

The $32-Trillion Push To Disrupt The Entire Oil Industry

IEA: COVID-19 crisis causing the biggest fall in global energy investment in history

Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

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

MAN reports successful first running of ammonia two-stroke engine

IEA: global energy investment stabilized above $1.8T in 2018; security and sustainability concerns growing

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

Rio Tinto secures direct container service from Pilbara to Singapore

EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

TransCanada to proceed with $12B, 1.1M barrel/day Energy East oil pipeline project to Eastern Canada

Goodyear unveils 90% sustainable-material demonstration tire, approved for road use

Malaysia Airlines flies first flight in Malaysia using sustainable aviation fuel

IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

The Next Oil Price Spike May Cripple The Industry

GECF: more than a quarter of 2050 natural gas supply untapped

Lawrence Livermore publishes state-by-state energy/water Sankey diagrams

DOE to award $9M to promote consensus on future fossil energy technologies

Neste-led project verified 50% methane emission reduction at palm oil mills using belt filter press

EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

Carinata now a listed feedstock for CORSIA HEFA Sustainable Aviation Fuels

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