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

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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. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6

Global 448
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Consortium developing green hydrogen megaproject in Oman

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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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Fusion Fuel Green partners with CCC to develop green hydrogen demonstrator plants in Middle East

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CCC and Fusion Fuel have agreed to cooperate on projects involving the production of green hydrogen for potential clients in the refining and petrochemical industries in order to reduce their carbon footprint. The companies plan to develop demonstrator plants in several countries in the region, namely Oman, Kuwait, and Qatar.

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Opinion: How Much Longer Can OPEC Hold Out?

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With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.” Source: opec.org).

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Opinion: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?

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Together, the three quotes provide a framework for analyzing Saudi options heading into the December 4 OPEC meeting in Vienna and its choices vis-à-vis the OPEC outsiders (all members but Saudi Arabia and its Gulf Arab allies, Kuwait, UAE, Qatar): reconciliation, separation, or divorce. Much Higher Volume and/or Much Higher Prices.

Oil 150
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Opinion: Is Russia Plotting To Bring Down OPEC?

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Putin has highlighted on various occasions the contribution Russia’s mineral wealth, in particular oil and natural gas, must make for Russia to be able to sustain economic growth, promote industrial development, catch up with the developed economies, and modernize Russia’s military and military industry. Live by Energy….

Russia 150
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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. Their share of OPEC output increased to 26.6 percent from 10.2