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Kuwait Researchers Forecast Global Conventional Crude Oil Production Will Peak in 2014; New Multicyclic Hubbert Model

Green Car Congress

Scientists from Kuwait University and Kuwait Oil Company are forecasting that world conventional crude oil production will peak in 2014—almost a decade earlier than some other predictions. According to the analysis, the ultimate reserve of these countries is 819 BSTB and their future recoverable oil is 252 BSTB. MMSTB/D in 2006.

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Polestar hits 2021 sales target of 29,000 vehicles, up 185% y-o-y

Green Car Congress

Polestar, the Swedish premium electric car company founded by Volvo Cars and Geely Holding, delivered on its global sales target of 29,000 vehicles in 2021, representing year-on-year growth exceeding 185%. Polestar increased its global presence from 10 to 19 markets in 2021, with growth in Europe and Asia Pacific.

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Consortium developing green hydrogen megaproject in Oman

Green Car Congress

An international consortium comprising OQ, which is the Sultanate of Oman’s global integrated energy company, InterContinental Energy, the leading dedicated green fuels developer, and EnerTech, a Kuwait government-backed clean energy investor and developer, is developing an integrated green fuels mega project in Oman.

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Oil price tumbles after OPEC releases 2015 forecast

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Add to that a new report from the US government’s Energy Information Administration (EIA), which also cut its 2015 forecast for growth in global oil demand by 240,000 barrels per day, down to 880,000 barrels per day. Futures for US crude also are down dramatically. The exceptions, the news agency reports, are Kuwait and Qatar.

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Opinion: How Much Longer Can OPEC Hold Out?

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With announcement of a historic nuclear deal framework between Iran and six global powers: America, France, Britain, China, Russia and Germany on April2, 2015, there is a good possibility that Iranian crude oil exports will increase greatly after June 2015 when the final nuclear deal is signed. Iran Nuclear Deal: A warning sign for OPEC?

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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CME Brent oil futures project continuity: as of August 18, 2015, CME Brent futures projected the price remaining below $60/bbl until June 2017. Are the futures market, CNBC’s oil traders, analysts, and major fund investors, and others, being lulled into an unjustified consensus? Their share of OPEC output increased to 26.6

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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron is taking its technology learnings from Kern River and apply them to Duri and other major heavy oil fields globally, such as Wafra in the onshore Partitioned Neutral Zone (PNZ) between Kuwait and Saudi Arabia and in the Orinoco in Venezuela. —Jeff Hatley. —Fram et al.

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