article thumbnail

IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

Green Car Congress

Assuming Libya rebounds from a steep drop, the bloc’s production could increase 2.6 Global refining capacity is set to expand by 1 mb/d in 2022 and 1.6 Following nearly two years of declines, observed global oil inventories increased by 77 mb in April. OECD industry stocks also rose, by 42.5 mb/d and 1.9 mb/d to 101.6

Oil 210
article thumbnail

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

Green Car Congress

million barrels over a 45-day period to calm the global oil market in the immediate aftermath of the beginning of the Iraq war. Bush authorized a drawdown of 33.75 2005 Hurricane Katrina Sale. DOE received over 90 offers that resulted in 28 contracts with 15 companies for deliveries of 30,640,000 barrels.

Oil 418
article thumbnail

Nissan to test African demand for its e-Power hybrid vehicle – ET Auto

Baua Electric

This year Nissan will export the South African built Navara pickup trucks to new markets of Algeria, Libya, Sudan, Tunisia and Egypt, Nissan Africa product Marketing Director Stefan Haasbroek said. According to Nissan, elsewhere in the world the global motorization average is 182 vehicles per 1,000 people versus 42 per 1,000 in Africa.

Tunisia 52
article thumbnail

Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

Green Car Congress

Global emissions of CO 2 increased by 3% last year, according to the annual report “Trends in global CO 2 emissions”, released by the EC Joint Research Centre (JRC) and the Netherlands Environmental Assessment Agency (PBL). At 3%, the 2011 increase in global CO 2 emissions is above the past decade’s average annual increase of 2.7%.

2011 236
article thumbnail

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

Green Car Congress

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.

article thumbnail

US Shale Is Now Cash Flow Neutral

Green Car Congress

The IEA says that in the third quarter of 2016, the US shale industry became cash flow neutral for the first time ever. million barrels per day in the second quarter of 2015, the industry did not break even. That was enough to make the industry cash flow neutral for the first time in its history. That isn’t a typo.

article thumbnail

New EIA report boosts estimates of global recoverable shale oil resources 10-fold to 345 billion barrels

Green Car Congress

Within the US, industry typically refers to tight oil production rather than shale oil production, because it is a more encompassing and accurate term with respect to the geologic formations producing oil at any particular well.

Oil 281