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Iran’s Ministry of Industries, Mining and Trade recently announced that the country has discovered its first lithium reserve, in Qahavand in Hamedan province. million tons of lithium; if realized, this would rank Iran behind Chile (11 millions tons) and ahead of Australia (7.9 The reserve is believed to hold 8.4
Japan-based Terra Motors, a manufacturer of electric two and three-wheelers ( earlier post ), has started sales of the A4000i electric scooter—with new products to follow—in Tehran, Iran with Jahanro Industrial Co, exclusively for next five years. In Iran, the government has decided to reduce gasoline subsidies.
The average global capacity factor for reactors generating electricity in 2019 rose from 79.8% Construction started on five reactors in 2019, two in China and one each in Iran, Russia and the UK. Median construction time for reactors starting up in 2019 was 117 months. This is above the average achieved since 2001.
The globalmarket for light-duty (LD) natural gas vehicles (NGVs)—including passenger cars, light-duty trucks and commercial vehicles—will experience a compound annual growth rate (CAGR) of 6.2% LD NGVs make up about 97% of the total NGV market (2.08 In Latin America, the consumer market is. Ukraine and Italy.
As of May 2022, surplus crude oil production capacity in non-OPEC countries decreased by 80% compared with 2021, according to the US Energy Information Administration’s (EIA) new report Global Surplus Crude Oil Production Capacity. In 2021, 1.4
A new report from Pike Research forecasts that the global natural gas vehicle (NGV) sector is poised for a new period of growth. The cleantech market intelligence firm forecasts that the number of NGVs on the road worldwide will grow to 17 million vehicles by 2015, up from 9.7 million in 2008. Dave Hurst, Pike Research.
million unit global NGV market which we forecast will expand at a compound annual growth rate (CAGR) of 7.9% The growth in vehicles will lead to growth in usage of natural gas for transportation fuel, which Pike expects to reach 19,123 million cubic meters of gas globally (6.7% million vehicles per year in 2010 to more than 3.2
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). The oil market is at a crossroads.
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 oil supplies increased by 310 kb/d in November to 92.3
A study by Ricardo Strategic Consulting has concluded that while sluggish automotive demand in Europe, Japan and North America will be balanced by the BRIC (Brazil, Russia, India and China) markets through 2020, thereafter the ‘Rising-15’ nations become the engine for profitable growth—assuming political stability.
Today the Wall Street Journal (subscription required) reports "Soaring Energy Use Puts Oil Squeeze on Iran." Iran may start rationing gasoline as soon as next month, and its oil exports could dry up in as little as a decade. The stagnation of Iran's oil industry presents a potential crisis for the country and the global oil market.
Asia is expected to register the highest refinery Fluid Catalytic Cracking Units (FCCU) capacity additions globally between 2022 and 2026, accounting for approximately 48% of the total capacity additions by 2026, according to GlobalData, a data and analytics company. —Teja Pappoppula.
The global natural gas vehicle fleet has grown rapidly in the last 10 years, but still represents less than 1% of global transport fuel consumption. The global fleet of NGVs consists largely of passenger cars/LDVs, although there are some regional differences. Click to enlarge. gas sources, such as biogas or bio-synthetic gas.
In 2018, global oil reserves rose slightly (+0.4%), mainly due to growth in the US. OPEC registered zero growth as production in the Arab Gulf countries were offset by losses in Iran and Venezuela due to geopolitical issues. WTI, the US light crude, covers 60% of global growth. also rose in Brazil and Norway.
As the world population increases by the estimated 30% from 2010 to 2040, ExxonMobil sees global GDP rising by about 140%, but energy demand by only about 35% due to greater efficiency. The Outlook for Energy provides ExxonMobil’s long-term view of global energy demand and supply. Click to enlarge. Outlook for Energy.
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
The International Energy Agency’s August Oil Market Report (OMR) trims 2012/2013 oil demand expectations by 300-400 thousand barrels per day (kb/d), although annual growth remains in an 800-900 kb/d range both years. Global oil supply grew by 0.3 Global oil output stood 2.6 3Q12 global throughputs now total 75.5
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.
Chokepoints are narrow channels along widely used global sea routes, some so narrow that restrictions are placed on the size of vessel that can navigate through them. They are a critical part of global energy security due to the high volume of oil traded through their narrow straits. million bbl/d in 2009-2010. —US EIA.
The globalmarket for sensors used in internal combustion engines (ICE) is on the road of steady growth for the next few years, propelled by increasing utilization in engine management and exhaust aftertreatment, according to a new report from IHS Technology. IHS forecasts that the market for no sensors will grow at a CAGR of 9.3%
Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. The threat of an outage will carry more weight as the oil market tightens. The danger to Iran is a return of U.S. Iran probably won’t pose a supply risk to the market, at least not this year.
Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 In Iran and Mexico, the loss of production is primarily due to political factors. Source: Maugeri 2012. Click to enlarge.
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).
But the collapse of prices in July—owing to the Iran nuclear deal, an ongoing production surplus, and economic and financial concerns in Greece and China—have darkened the mood. Now a prevailing sense that oil prices may stay lower for longer has hit the markets. That is no longer the case. Today OPEC has only 1.6
Borgward will systematically continue to globalize its activities by entering the markets of Middle Eastern countries such as Bahrain, Kuwait, Qatar, the United Arab Emirates (UAE), and Iran. In accordance with this roadmap, the company will expand westwards from China before entering the European market.
million b/d, as production in Nigeria and Libya tentatively recovered along with steady increases for Saudi Arabia and Iran, according to an S&P Global Platts survey of OPEC and oil industry officials. —Eklavya Gupte, senior editor for S&P Global Platts. million b/d in June in order to meet domestic demand.
Pike Research forecasts that the NGV market will grow globally at a CAGR of 5.5% The top five markets for NGVs are currently Pakistan, Argentina, Brazil, Iran, and India. Pike Research anticipates India will be the fastest-growing NGV market with a CAGR of 18.4% million in 2008. between 2008 and 2015.
MIT and the IEA both have newly released reports exploring the potential for and impact of a major expansion in global usage of natural gas, given the current re-evaluation of global supplies. Globally, natural gas vehicles are a small fraction, on the order of 1%, of the close to 900 million vehicles in the vehicle parc.
million units2 sold in 2016, as the company expands its product range, including in LCV and new electric vehicles and builds on success of its global access range. Growing market opportunities in Brazil, India, Iran. Connected – 100% vehicles connected in key markets. billion in Monozukuri savings over the plan.
In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. This increase in output occurs with the context of a narrow global demand opportunity.
Sentyurin also acknowledged the role of Turkmenistan as one of the founders of the Forum, the 20 member countries of which today represent 71% of proven gas reserves, 45% of its marketed production, 53% of pipeline, and 60% of LNG exports across the world.
These results are exceptional, and they demonstrate the value of pairing global-scale perspective with the resolution required to identify methane point sources, down to the facility scale. The team also identified a methane plume south of Tehran, Iran, at least 3 miles (4.8 kilometers) long, from a major waste-processing complex.
Krane said the most encouraging example of reform efforts is that of Iran, the first country in the world to replace major subsidies with a universal cash transfer program for households. Indonesia, for example, after failed attempts in 1997 and 2003, successfully raised fuel prices in 2005 and 2008.
The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. With Saudi Arabia's refined fuel contributing to the global supply glut, what will be its impact on the refining markets especially those in Asia? How will Saudi Arabia Capture Market Share Downstream?
In other words, banks are allowing drillers to continue to borrow, which could delay the inevitable balancing needed in the market. It may just delay the adjustment for oil markets. “It Bond markets have essentially been ruled out as a new source of finance for high-yield producers. rig count has declined by more than half, U.S.
With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran’s crude oil supply would further contribute to the already rising global supply glut. However, the situation is quite different now as most of these hedges are about to expire.
More oil bulls are piling on in anticipation of the April OPEC meeting , on an unfounded belief that the production freeze may actually have any material impact on global oil supplies. Iran also continues to add production, albeit at a slower-than-expected rate. In fact, the rally to $40 was largely driven by speculation.
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. Market” forces include many components. percentage points.
& "The major players in the global economy, Europe, the U.S. With the global situation looking increasingly hectic and economies in varying degrees of disarray, there are a lot of questions about the future landscape of business. & This puts Germany in a difficult position, especially automotive manufacturers. influence.&
Global Supply and Demand Fundamentals Continue to Worsen. This is part of overall weak demand in a global economy that has been severely weakened by debt. With Iran poised in early 2016 to add almost as much oil as the amount of the US production decline to date, the outlook for tight oil producers could not be worse.
US sanctions targeting China's telecommunications giant Huawei Technologies have crippled the company, effectively forcing it out of the global smartphone market and now threatening its domestic phone business as well. They have also shrunk Huawei's market for fifth-generation wireless network infrastructure around the world.
The American automaker has been strengthening its global supply chain to support localized production. market, the source of battery minerals has become essential to qualifying for the Inflation Reduction Act’s (IRA) EV subsidies, which range from $3,750 to $7,500. For electric vehicles (EVs) sold in the U.S.
In other words, banks are allowing drillers to continue to borrow, which could delay the inevitable balancing needed in the market. It may just delay the adjustment for oil markets. “It Bond markets have essentially been ruled out as a new source of finance for high-yield producers. rig count has declined by more than half, U.S.
adding more satellites to its network, seeking exemptions so that they can service Iran) that it has helped raise awareness or bolster curiosity about it.”. million times globally since January 2021. Its largest markets by installs are the U.S. “It’s possible that because Starlink has been in the news lately (e.g.
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