article thumbnail

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

Green Car Congress

The total volume sold during the Desert Storm drawdown was just over half the amount offered by the Government, primarily because industry offers for the higher-sulfur “sour” crude oil were substantially lower than bids for the lower-sulfur “sweet” crude.). Bush authorized a drawdown of 33.75 2005 Hurricane Katrina Sale.

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.

Tunisia 52
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 OECD industry stocks also rose, by 42.5 At 2,669 mb, OECD industry stocks were nevertheless 290.3 OECD industry stocks of middle distillates have fallen by 25% since January 2021 to their lowest levels since 2004. mb/d in 2022 and 1.8

Oil 210
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

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

Platts Survey: OPEC pumps 31.28M barrels of crude per day in June; highest since Aug 2012

Green Car Congress

million barrels per day (b/d) in June, up 170,000 b/d from May and the fourth consecutive monthly increase since February, as Saudi Arabia and Iraq pushed out more oil, a Platts survey of OPEC and oil industry officials and analysts showed Monday. Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.28

article thumbnail

Europe Expands Virtual Borders To Thwart Migrants

Cars That Think

It was after midnight in the Maltese search-and-rescue zone of the Mediterranean when a rubber boat originating from Libya carrying dozens of migrants encountered a hulking cargo ship from Madeira and a European military aircraft. When I got to Libya, I didn’t have money,” Jacob says. Five more migrants died on the southward journey.

Europe 142