Global, International, Oil and Supplies

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

Green Car Congress

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

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

Green Car Congress

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

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

Green Car Congress

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. President George W.

Oil

Oil Ukraine Libya Iraq

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

Green Car Congress

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). Eventually this trend becomes unprofitable, at which point new drilling stops.

International

International Oil Prices Production Oil

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

Green Car Congress

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

IEA issues 10-point plan to cut oil use

Green Car Congress

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 Ban private cars in cities on Sunday.

Oil

Oil Ukraine Economy Global

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. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2023.

Global

Global China Kuwait Oman

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

Green Car Congress

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

Global Carbon Budget 2022: Global fossil CO2 emissions expected to grow 1.0% in 2022

Green Car Congress

NOVEMBER 14, 2022

The Global Carbon Project (GCP) published its annual analysis of trends in the global carbon cycle in the journal Earth System Science Data , including an updated full-year projection for 2022. Global fossil CO 2 emissions are expected to grow 1.0% (with an uncertainty range of 0.1% The decline in 2020 of -5.2% increase in 2021.

Global

Global Emissions Carbon Coal

Eni report: global oil reserves and oil production up in 2018 due to US

Green Car Congress

JULY 30, 2019

Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry.

Saudi Arabia

Saudi Arabia Oil 2018 Global

Raven SR to supply sustainable aviation fuel to ANA and JAL

Green Car Congress

JANUARY 18, 2023

Raven SR signed memoranda of understanding (MOU) to supply sustainable aviation fuel (SAF) to All Nippon Airways (ANA) and to Japan Airlines (JAL) for major global routes. Each MOU provides for an initial 50,000 tons of SAF supply in the first year, 2025, with annual incremental increases to 200,000 tons for year 10.

Supplies

Supplies Fuel Waste Hydrogen

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

Green Car Congress

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

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

Green Car Congress

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

Neste introduces co-processed marine fuel in partnership with Nordic Marine Oil; up to 80% GHG emission reduction

Green Car Congress

MAY 19, 2022

Together with its partner Nordic Marine Oil, Neste is piloting a new Neste Marine 0.1 The sustainability characteristics of the co-processed marine fuel are certified with International Sustainability and Carbon Certification (ISCC PLUS) with a mass balance approach.

Mariner

Mariner Oil Emissions Fuel

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

Green Car Congress

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.

Global

Global Energy Coal 2020

IHS Markit: 10 MMb/d of oil production cuts coming

Green Car Congress

APRIL 1, 2020

IHS Markit Crude Oil Markets service expects up to 10 MMb/d of world oil production will be cut or shut-in from April to June 2020 as oil storage fills up and output from financially strapped companies begins to fall. If oil cannot be sold or stored, it cannot be produced. —Jim Burkhard. bbl on the physical market.

Saudi Arabia

Saudi Arabia Oil Production Russia

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

Green Car Congress

JULY 12, 2023

The global market for ammonia is poised to triple in the coming decades with nearly all of the growth coming from low-carbon ammonia, according to a new analysis by S&P Global Commodity Insights. The rapid growth in ammonia driven by low-carbon supplies will change the current market beyond recognition.

Market

Market Carbon Supplies Insight

IEA says oil supplies may not keep up with demand

Green Car Congress

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

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

Green Car Congress

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

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

Green Car Congress

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. —Joseph McMonigle, secretary general, IEF.

Price

Price Oil Asia Gas

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

Green Car Congress

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

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

Green Car Congress

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

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

Green Car Congress

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. shale production will continue to grow along with global demand. shale production will continue to grow along with global demand. oil may not be able to fill.

Oil Prices

Oil Prices Oil Saudi Arabia Price

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

Green Car Congress

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 demand is now seen advancing by 1.2 Global demand is now seen advancing by 1.2 Global refinery crude runs plunged to 73.6

United Arab Emirates

United Arab Emirates 2014 Oil Supplies

bp and Maersk Tankers carry out successful trials of B30 in two tankers

Green Car Congress

DECEMBER 27, 2021

Each vessel was supplied with bp Marine B30 biofuel, consisting of 30% fatty acid methyl esters (FAME) blended with very low sulfur fuel oil (VLSFO). FAME is a renewable alternative fuel (biodiesel) largely produced from recycled cooking oils and renewable oil sources.

Mariner

Mariner Africa Oil Netherlands

IEA: global map of oil refining and trade to be redrawn over next 5 years

Green Car Congress

OCTOBER 12, 2012

Profound shifts in the regional distribution of oil demand and supply growth will redefine the refining industry and transform global oil trade over the next five years, according to the annual Medium-Term Oil Market Report (MTOMR) released by the International Energy Agency (IEA).

Oil

Oil Oil-Sands Global Oil Prices

IEA raises forecast global oil consumption in 2013 to 90.8 mb/d

Green Car Congress

JANUARY 18, 2013

In its latest Oil Market Report , the International Energy Agency (IEA) raises its forecast for global consumption of oil to 90.8 Global crude oil supplies fell by 170 kb/d in December, to 91.2 OPEC crude supply in December fell to its lowest level in a year at 30.65 mb/d y-o-y to around 75.9

2013

2013 Saudi Arabia Oil Global

IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

Green Car Congress

APRIL 27, 2017

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. Oil discoveries declined to 2.4

Oil

Oil 2016 Oil-Sands Global

H2Carrier and Anori developing PtX project in Greenland; production of green ammonia on floating platform P2XFloater

Green Car Congress

JANUARY 6, 2023

The 1.5GW wind farm will supply power to H2Carrier’s floating production vessel for hydrogen and green ammonia, the P2XFloater. Green ammonia will be stored in tanks onboard the vessel, then exported to smaller shipping vessels and carried to the international market for ammonia. Earlier post.)

Green

Green Production Wind Norway

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

Green Car Congress

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

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

Green Car Congress

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. trillion in 2018, a level similar to 2017.

2018

2018 Global Energy Coal

BNEF: net-zero road transport by 2050 still possible, but big push needed

Green Car Congress

JUNE 2, 2022

The Long-Term Electric Vehicle Outlook outlines two scenarios for the uptake of electric transport to 2050, and examines impacts on demand for batteries, materials, oil, electricity, infrastructure and emissions. million barrels of oil demand per day. —Aleksandra O’Donovan, head of electric vehicles at BloombergNEF.

Transportation

Transportation Emissions Fleet Economy

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

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

Green Car Congress

JUNE 23, 2022

He also continued his calls for the oil industry to increase refinery capacity to increase production. Crude oil is always the top contributor to the prices US drivers see at the pump. Refined products from crude are globally traded commodities, priced in a competitive global market. Other important suppliers to the US.,

Congress

Congress Fuel Tax Tax Fuel

Malaysia Airlines flies first flight in Malaysia using sustainable aviation fuel

Green Car Congress

DECEMBER 19, 2021

The historic flight MH7979 utilizing the Airbus 330-200 aircraft departed Amsterdam Airport Schiphol at 12:55 pm local time using a blend mixture of approximately 38% SAF made e.g. from used cooking oil, and conventional jet fuel, and arrived in Kuala Lumpur International Airport at 09:00 am local time.

Malaysia

Malaysia Fuel Waste Cleaner

BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

Green Car Congress

AUGUST 7, 2020

After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the COVID-19 pandemic reduces energy consumption across the global economies. The report shows that medium-term growth will come from increasing cost-competitiveness and increased global access to gas. —Jon Moore, CEO of BNEF.

Gas

Gas Global Industrial Industry

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

Green Car Congress

JUNE 10, 2013

Map of basins with assessed shale oil and shale gas formations, as of May 2013. Among the highlights in the 2013 report is a 10-fold increase in the estimate of technically recoverable shale / tight oil from 32 billion barrels (from the EIA’s Annual Energy Outlook 2011 ) to 345 billion barrels. Source: US EIA. Click to enlarge.

Oil

Oil Algeria United States Argentina

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

BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

Green Car Congress

JUNE 13, 2012

Oil remains the world’s leading fuel, but its 33.1% Global energy consumption grew by 2.5% Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% globally, and 8.4% Source: BP.

Coal

Coal Oil Renewable Saudi Arabia

Carinata now a listed feedstock for CORSIA HEFA Sustainable Aviation Fuels

Green Car Congress

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

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

Green Car Congress

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. Earlier post.). —Bjørn Einar Brath.

Energy Storage

Energy Storage Mariner Li-ion Oil

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

Green Car Congress

NOVEMBER 2, 2020

Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. According to Sentyurin, around 80% of the natural gas production by mid-century will stem from new projects, highlighting the importance of continued investment in upstream. —Secretary General Sentyurin.

Turkmenistan

Turkmenistan Equatorial Guinea United Arab Emirates Gas

The Next Oil Price Spike May Cripple The Industry

Green Car Congress

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

IEA March Oil Market Report revises 2015 demand forecast upward

Green Car Congress

MARCH 13, 2015

out in the second quarter of 2014, global oil demand growth has since steadily risen, with year?on?year mb/d for the current quarter, according to the IEA Oil Market Report for March. mb/d, bringing global demand to an average 93.5 mb/d, bringing global demand to an average 93.5 Global supply rose by 1.3

2015

2015 Oil Saudi Arabia Market

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

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

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

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

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

IEA issues 10-point plan to cut oil use

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

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

Global Carbon Budget 2022: Global fossil CO2 emissions expected to grow 1.0% in 2022

Eni report: global oil reserves and oil production up in 2018 due to US

Raven SR to supply sustainable aviation fuel to ANA and JAL

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

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

Neste introduces co-processed marine fuel in partnership with Nordic Marine Oil; up to 80% GHG emission reduction

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

IHS Markit: 10 MMb/d of oil production cuts coming

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

IEA says oil supplies may not keep up with demand

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

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

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

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

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

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

bp and Maersk Tankers carry out successful trials of B30 in two tankers

IEA: global map of oil refining and trade to be redrawn over next 5 years

IEA raises forecast global oil consumption in 2013 to 90.8 mb/d

IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

H2Carrier and Anori developing PtX project in Greenland; production of green ammonia on floating platform P2XFloater

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

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

BNEF: net-zero road transport by 2050 still possible, but big push needed

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

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

Malaysia Airlines flies first flight in Malaysia using sustainable aviation fuel

BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

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

Rio Tinto secures direct container service from Pilbara to Singapore

BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

Carinata now a listed feedstock for CORSIA HEFA Sustainable Aviation Fuels

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

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

The Next Oil Price Spike May Cripple The Industry

IEA March Oil Market Report revises 2015 demand forecast upward

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