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The Next Oil Price Spike May Cripple The Industry

Green Car Congress

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.

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Opinion: The Saudi Oil Price War Is Backfiring

Green Car Congress

Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. This could eventually result in refiners cutting their crude oil imports.

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GlobalData: COVID-19 puts EV sales and CO2 fleet emission targets at risk

Green Car Congress

GlobalData research shows that lower oil prices as a result of the COVID-19 crisis could reduce electric vehicle demand and impair EU efforts to significantly reduce average new vehicle CO 2 emissions in the European car market. —Mike Vousden, Automotive Analyst at GlobalData.

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Hyundai Heavy begins exporting LNG engine

Green Car Congress

Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder and a leading marine engine manufacturer, has begun exporting the gas engine Hyundai HiMSEN H35/40GV after completing test runs. The new gas engine runs on liquefied natural gas rather than heavy crude oil and has a maximum power output of 13,000 bhp (9,694 kW).

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2019 NTEA Fleet Purchasing Outlook reveals continued strong demand for biodiesel in diesel trucks

Green Car Congress

New research released by NTEA – The Association for the Work Truck Industry confirms that fleets across the country are increasingly relying on biodiesel for their existing and new diesel vehicles. It is highly likely that clean energy solutions will remain relevant due to oil price instability.

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GE and Sargas AS partner on gas-fired plants with carbon capture for enhanced oil recovery

Green Car Congress

GE has concluded a commercial alliance agreement with Norway-based Sargas AS to provide a gas turbine for one of the world’s first gas-fired plants with integrated carbon capture for enhanced oil recovery (EOR). Sargas is fortunate in being able to partner with best-in-class industrial giants including DSME of Korea. Source: Sargas.

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Ricardo and Kevin J Lindemer LLC to assess the timing and impact of Peak Oil Demand

Green Car Congress

Proponents of the concept of peak oil supply argue that the world faces a situation—possibly very soon—in which its capacity to produce oil hits a ceiling, with demand subsequently having to adjust as supply begins to decline and alternatives to oil move into the market to fill the gap. Earlier post.).

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