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The conclusion of the International Seabed Authority’s review process allows NORI to proceed with its planned integrated pilot collection system trials in its NORI-D exploration contract area in the Clarion Clipperton Zone (CCZ) of the Pacific Ocean. Main components of the Prototype Collector Vehicle.
Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51 million barrels per day (b/d).
Canadian researchers have developed a large-scale economical method to extract hydrogen from oil sands (natural bitumen) and oil fields. The process can extract hydrogen from existing oil sands reservoirs, with huge existing supplies found in Canada and Venezuela. Proton Technologies is commercializing the process.
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.
The International Energy Agency’s Monthly Oil Statistics shows that there are differences in refinery output throughout the world. Source: International Energy Agency, Monthly Oil Statistics, February 2020, Paris, France.,
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.
Austria-based OMV, an international, integrated oil, gas and chemicals company, announced its intention to become a net-zero (Scope 1, 2 and 3) company by no later than 2050. The gradual decline foresees a decrease in crude oil production by around 30% and natural gas production by around 15% by 2030.
In 2021, the United States returned to importing more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it exports following its historic shift to being a net exporter of petroleum in 2020, according to the US Energy Information Administration (EIA). million b/d. million b/d in 2023. million b/d.
Thirty-seven globally prominent scientists representing the International Journal of Engine Research have published an open-access editorial addressing the future of the Internal Combustion Engine, and stressing the importance for continued development of more efficient and even lower-emitting technologies. —Reitz et al.
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.
The Department of Energy’s (DOE’s) Office of Fossil Energy announced up to $88 million in federal funding for cost-shared research and development projects enhancing technologies for oil and natural gas recovery under two separate funding opportunity announcements (FOAs). million barrels of oil per day (MMb/d)) to 56.5%
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
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.
Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “ —Gabriel Collins.
Petrochemicals are rapidly becoming the largest driver of global oil demand. Petrochemicals are set to account for more than a third of the growth in world oil demand to 2030, and nearly half the growth to 2050, adding nearly 7 million barrels of oil a day by then. Source: IEA. —Dr Fatih Birol, IEA Executive Director.
In an EU-funded research project, an international consortium is aiming to develop new production methods for sustainable marine fuels to replace heavy fuel oils in shipping. In addition, the International Maritime Organization (IMO) is seeking to ban HFO use in Arctic waters. The participants are Vertoro B.V. (NL);
In the first half of 2022, motors with oil cooling became the dominant form in the electric car market, taking 50% market share, according to a report from IDTechEx. IDTechEx is predicting oil to gain an even greater market share with purely water jacket-cooled motors remaining in a significant way. This is where oil cooling comes in.
a leader in the area of high-performance dynamometer systems, recently provided a performance test stand for validating designs for new hydraulic variable timing cam phaser systems for a major international provider of powertrain components. The custom-built system is designed for use with cam phasers driven by oil pressure.
To reduce the number of accidents in the global oil and gas industry caused by damaged pipelines, University of Houston researchers are developing an autonomous robot to identify potential pipeline leaks and structural failures during subsea inspections. When larger spills happen, pipelines are often the culprit.
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.
Russia's ongoing invasion of Ukraine has triggered international sanctions throttling the country's oil exports, leading to fears of every higher gas prices. million barrels of oil per day last year, according to new analysis from. But electric vehicle adoption has been helping make the situation less grim.
Our goal is to replace all existing main engines and generator engines with these highly efficient solid oxide fuel cells [SOFCs] to align with the International Maritime Organization’s 2030 and 2050 environmental targets. SHI LNG carrier. —Haeki Jang, vice president of shipbuilding & drilling sales engineering at SHI.
Global energy demand spiked in 2024, driven largely by surging electricity use, according to a new report released today by the International Energy Agency (IEA). Electricity consumption jumped by nearly 1,100 terawatt-hours a hefty 4.3% increase nearly twice the annual average growth of the past decade.
has developed proprietary, breakthrough processes that convert either low-carbon isobutanol or low-value fusel oils—a mixture of alcohols that are byproducts from fermentation processes such as alcohol production—into renewable diesel. Gevo expects this to open yet another door for Gevo products.
Toyota introduced the next-generation three-row 2020 Highlander SUV at the New York International Auto Show. A variable cooling system (electric water pump, electric thermostat) and a fully variable oil pump further improve engine efficiency. The system delivers a combined 240 horsepower and an EPA-estimated 34 combined MPG.
To achieve this, hairpin winding technology is used in the stator as well as combined oil-water cooling. The rotor and stator are internallyoil-cooled and the active parts are installed in a water cooling jacket. The new electric motor is available in power ratings between 150 and 230 kilowatts continuous output.
Plug-in hybrids might add to oil consumption estimates, says BNEF New EPA guidelines might give plug-in hybrids a pass, if drivers don't plug them in Meanwhile, automakers have softened their battery-electric sales targets The global fleet of internal-combustion vehicles will peak in 2025, but plug-in hybrids may determine whether this leads to.
A strong SUV market is leading to higher oil demand today, and may make future carbon dioxide (CO2) emissions targets harder to achieve, according to the International Energy Agency (IEA). New IEA analysis found that global CO2 emissions from SUVs reached nearly 1.1 SUVs are.
The Record of Decision (ROD) reduces the size of the project by denying two of the original five drill sites proposed by ConocoPhillips, which is seeking to develop oil and gas leases it acquired beginning in the late 1990s. The Willow project is estimated to produce 180,000 barrels of oil per day at its peak. Earlier post.)
Fossil fuels still receive most of the international government support provided to the energy sector despite their “well-known environmental and public health damage,” according to new research from Rice University’s Baker Institute for Public Policy. 5 consumer of oil,” Krane said. Costs ranged from a low of 0.3%
The Hydrogen Heavy Duty Vehicle Industry Group—comprising Air Liquide, Hyundai, Nel Hydrogen, Nikola Corporation, Shell and Toyota—has signed agreements with Tatsuno Corporation and Transfer Oil S.p.A. to industrialize globally-standard 70 MPa hydrogen heavy-duty vehicle high-flow (H70HF) fueling hardware components.
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.
ASTM International has approved and published a sixth pathway for the production of sustainable aviation fuel (SAF). In the CHJ process (also called hydrothermal liquefaction), clean free fatty acid (FFA) oil from the processing of waste oils or energy oils is combined with preheated feed water and then passed to the CH reactor.
First oil is targeted for 2028. Trion is a greenfield development that would represent the first oil production from Mexico’s deepwater. The investment is expected to deliver an internal rate of return (IRR) greater than 16% with a payback period of less than four years. Trion was discovered in 2012 by PEMEX.
billion to be split equally between the joint venture partners and funded from internal cash flows provided by DGD. —Joe Gorder, Valero Chairman and Chief Executive Officer, To produce renewable diesel, Diamond Green Diesel first pretreats used cooking oil and inedible animal fats to remove impurities.
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.
In the International Energy Agency’s (IEA) June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0 The Shenghong Petrochemical facility in Lianyungang has an estimated capacity of 320,000 b/d, and they report that trial crude oil-processing operations began in May 2022. million b/d in 2023.
The ability to produce aviation-grade fuel from oil derived from wood waste—which up until now has been difficult due to the high viscosity of the oil—could help international aviation companies comply with new emissions regulations scheduled to go into effect in 2027. cP was achieved after 240 min. —Kim et al.
The results of a new analysis by the International Council on Clean Transportation (ICCT) show that, when combined with a trend toward higher methane leakage and combustion slip, there is no climate benefit from using liquefied natural gas (LNG) as a marine fuel—regardless of the engine technology. First, it contains very little sulfur.
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 mb/d versus 4.6
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. In its June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0 million b/d in 2022 and by an additional 1.6
GlobalData research shows that lower oil prices as a result of the COVID-19 crisis could reduce electric vehicle demand and impair EU efforts to significantly reduce average new vehicle CO 2 emissions in the European car market. —Mike Vousden, Automotive Analyst at GlobalData.
Yesterday, the same day that Juan Diego Celemín Mojica discussed at length for CleanTechnica the matter of global peak oil demand and how the International Energy Agency and OPEC+ are noticing versus ignoring EV sales growth in China and declining oil demand, the US Energy Information Administration put out an.
ExxonMobil operates the Sakhalin-1 project on behalf of an international consortium of Japanese, Indian and Russian companies. The sub-artic Sakhalin-1 Project is one of the largest single international direct investments in Russia. ONGC Videsh Limited, India’s Oil and Natural Gas Corporation has 20% interest. Earlier post.).
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