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As November draws to a close, there are two major events that could profoundly change the oil markets. With the clock ticking, the 5 permanent members of the UN Security Council plus Germany (P5 plus 1) are negotiating down to the wire with Iran over its nuclear program. As a result, Iran’s GDP fell by 5.8 Source: [link].
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.
PSA Peugeot Citroën, which has operated in Iran for more than 30 years, and Iran Khodro signed a joint venture agreement to produce latest-generation vehicles in Iran. The agreement provides for: The restoration of contractual relations concerning the manufacture of Peugeot-branded vehicles currently produced in Iran.
The PSA Group and Iran Khodro have signed the final joint venture agreement to produce latest-generation vehicles in Iran. This investment will contribute to the development of a competitive manufacturing base for producing, launching and marketing Peugeot 208, 2008 and 301 models, fitted with latest-generation engines.
The global market 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%
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.
Geely’s current major overseas markets include Ukraine, Russia, Iraq and Saudi Arabia. In 2009, Geely bought the Australian transmission manufacturer Drivetrain Systems International (DSI) and then in 2010 Geely purchased Volvo Car Corporation from Ford.
mb/d for the current quarter, according to the IEA Oil Market Report for March. mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. out in the second quarter of 2014, global oil demand growth has since steadily risen, with year?on?year year gains estimated at around 0.9 Global supply rose by 1.3
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 Renewed disruptions in Libya and smaller drops in Nigeria, Kuwait, the United Arab Emirates and Venezuela more than offset higher output in Iran, Iraq and Angola.
OPEC (Organization of the Petroleum Exporting Countries) has been the most talked about international organization among investors, analysts and international political lobbies in the last few months. The EIA even predicts that OPEC’s net oil exports (excluding Iran) could fall to as low as $380 billion in 2015.
The findings by Leonardo Maugeri, a former senior executive vice president of the oil company Eni, and now a fellow in the Geopolitics of Energy Project in the Kennedy School’s Belfer Center for Science and International Affairs, are based on an original field-by-field analysis of the world’s major oil formations and exploration projects.
The next OPEC meeting on the 2nd of June will act as little more than a forum for continued altercations between Saudi Arabia and Iran. OPEC interactions have become a direct altercation between Saudi Arabia and Iran, with the remaining members reduced to mere observers.
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. After that point, when the shale revolution peters out, oil markets revert to their old ways—that is, looking to the Middle East once again to meet global demand. Source: [link].
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. This follows baseline data revisions and a weaker economic prognosis for 2012/2013.
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.
“We are, in Saudi Arabia, watching the market closely, and if there is a need to take any action to help the market rebalance, then we would, of course in cooperation with OPEC and major non-OPEC exporters,” said Saudi Energy Minister Khalid Al-Falih, reports Reuters. “We What has changed from Doha to Algeria?
Now, output seems to be on the way up, and at a time when the market could be looking at a lot more oil from Iran. Top producer, Saudi Arabia, driver of the oil producer group’s current market share strategy, further increased its output to produce an average 10.35 At that point, output was on the way down. million b/d in June.
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. The sharp increase in OPEC’s June production affirms a continuation of its market share strategy.
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. It is headquartered in Doha, Qatar.
OPEC registered zero growth as production in the Arab Gulf countries were offset by losses in Iran and Venezuela due to geopolitical issues. The US also broke into the international crude trade, doubling export volumes and entering that top ten ranking. Source: Eni World Oil Review 2019.
A new working paper published by the International Energy Agency (IEA) concludes that natural gas can play a significant role in cutting on-road vehicle carbon dioxide emissions, but that over the long term there will need to be a commitment to transition to very low CO 2. Click to enlarge. gas sources, such as biogas or bio-synthetic gas.
In the data EMIT has collected since being installed on the International Space Station in July, the science team has identified more than 50 “super-emitters” in Central Asia, the Middle East, and the Southwestern United States. The team also identified a methane plume south of Tehran, Iran, at least 3 miles (4.8
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. In other major export markets, demand is stagnant. is no longer a growth market for oil exporters.
According to the International Monetary Fund (IMF), all but five of 28 substantial attempts to dismantle subsidies over the past two decades met with some success. Perhaps the biggest risk implied by reforms of subsidies and social contracts is the possibility of unrest and even the overthrow of governments, Krane said.
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.
IEA ended its September Oil Monthly Report saying,“On the face of it, the Saudi-led OPEC strategy to defend market share regardless of price appears to be having the intended effect of driving out costly, “inefficient” production.”. Until market fundamentals of supply and demand come into balance, prices will remain low. Conclusions.
The International Energy Agency sees North American shale peaking towards the early part of the 2020s and declining thereafter, all but making it a blip on the radar when looking at oil production from a long-term standpoint. It may just delay the adjustment for oil markets. “It That will keep the pressure on US shale.
Iran also continues to add production, albeit at a slower-than-expected rate. The physical market could change as well with oil prices as high as they are—shale drilling could comeback with oil prices at $40 per barrel and above. In fact, the rally to $40 was largely driven by speculation. More output is bearish.”
A group of 10 Key Growth countries is expected to represent an increasingly significant share of the global energy market due to their rising populations and living standards. Forecasts Fuel Efficiency Fuels Market Background Oil' —Outlook.
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.
This war is a war of drones, they are the super weapon here,” Anton Gerashchenko, an adviser to Ukraine’s minister of internal affairs, told Newsweek earlier this year. These things are all out there, on the open market. You can’t gain the same advantage from simply possessing the technology,” Grieco says.
Control over the transportation assets in this region together with vast gas reserves make Russia the key element of this new market.”. The Saudi decision to let the market set prices and to pursue market share, has led to steep declines in crude and petroleum product prices. The emergence of the U.S.,
Recent trade deals and high-level cooperation between Russia and China have set off alarm bells in the West as policymakers and oil and gas executives watch the balance of power in global energy markets shift to the East. Market Background Oil Opinion Policy' Reign of the USD. Rise of the Yuan. Source: [link].
The first quote modifies a GEICO commercial describing a free-range chicken (If you’re a free range chicken, you roam free, that’s what you do), the second, the famous John Maynard Keynes quote about markets (The market can stay irrational longer than you can stay solvent), the third, another famous Keynes quote (In the long run, we’re all dead).
Is it becuase US market prefers a "home" product? Walkout at UN conference after Iran. inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. ” - More details at onroutebus.co.uk.
The move allies the US with such luminary states as Iran, Libya and Yemen, the only three other countries in the world not to ratify the Paris Agreement. This order was not unexpected, as Mr. Trump did the same dumb thing in 2017 , which President Biden reversed right away in 2021.
And finally, the Mirai botnet, which was created by three teenagers in order to basically get more market share for their Minecraft servers but ended up knocking the internet off for many people in the United States. So I think that Russia, North Korea, Iran, they’re the geopolitical peasants, so to speak.
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