EIA: US crude oil exports reached record levels in 2020 and remain high in 2021

Green Car Congress

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 US crude oil exports for that same week were 3.51

2020 339

Researchers develop large-scale, economical method to extract hydrogen from oil sands and oil fields

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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. The process can also be applied to mainstream oil fields, causing them to produce hydrogen instead of oil. Oil fields, even abandoned oil fields, still contain significant amounts of oil.

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International automotive researchers emphasize the importance of continued development of the internal combustion engine

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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. IJER editorial: “The future of the internal combustion engine.” International Journal of Engine Research.

2019 253

Refineries in the Americas produce a greater share of gasoline per barrel of crude oil than refineries in other world regions

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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., Fuels Market Background Oil

2020 338

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

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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. Market Background Oil

2020 261

Gulf Oil launches e-fluids for hybrid & electric cars in India

Electric Vehicles India

Gulf Oil launches e-fluids for hybrid & electric cars in India. Gulf Oil Lubricants India has announced the launch of its e-fluids for hybrid and electric passenger vehicles in India. Read further to know more about Gulf Oil launches e-fluids. .

India 52

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

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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. If there is no international agreement to curtail oil production then brutal unadulterated market forces will bring the oil market into balance. Market Background Oil

2020 170

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

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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. In 2018, global oil reserves rose slightly (+0.4%), mainly due to growth in the US. Source: Eni World Oil Review 2019.

2019 161

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

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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. International oil companies (IOCs) are likely to face a Black Swan scenario, which could end up being a boon for state-owned oil companies (NOCs). Lower oil supply will push up prices if demand continues to grow.

2019 200

DOE to award up to $88M for oil and natural gas recovery research

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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). According to the US Energy Information Administration (EIA), proved reserves of US crude oil and natural gas reached record highs in 2017, topping previous records at 39.2 of total US oil production (7.9

2019 251

Algae International Group signs contract with Gulf Hydrocarbon for algae oils

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Algae International Group Inc. signed an agreement for Gulf exclusively to represent AIG in sales and distribution of its proprietary and non-proprietary algal oils and products created with the algal oils. The exclusive representation agreement takes effect immediately and is a precursor to ALGA’s commercial production of algal oils from its pilot facility located in Tulare, California. AIG) and Gulf Hydrocarbon, Inc.

2013 191

Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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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 October, Saudi sources first prepared the market with statements that the country would be comfortable with oil prices as low as $80 per barrel for “a year or two.” Plunging oil prices have substantially reduced Saudi revenues.

2015 246

The New Oil Cartel Threatening OPEC

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When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. oil and gas production gives us greater leverage against OPEC,” the Times of India quoted an Indian official as saying last month after the formal start of said talks. What’s more, they might not be alone in this attempt to curb OPEC’s clout on the global oil market.

2018 163

Big Oil Betting On Electric Vehicles

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Oil demand for transportation fuel see its “ demand will flatten out ,” after 2030, Couse said. Colin McKerracher, head of advanced transport analysis at Bloomberg New Energy Finance, sees Couse’s forecast as the highest EV sales margin yet to be forecasted by a major company in the oil sector. Royal Dutch Shell Plc sees a similar trend with oil demand in transportation flattening out in the near future. They will make the internal combustion equivalent look old fashioned. ”.

2017 195

Toyota introduces new 2020 Highlander and hybrid at New York International Auto Show; TNGA-K platform

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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 package includes a heavy-duty radiator with engine oil cooler and improved fan performance.

2019 237

The New Oil Cartel Threatening OPEC

Green Car Congress

When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. oil and gas production gives us greater leverage against OPEC,” the Times of India quoted an Indian official as saying last month after the formal start of said talks. What’s more, they might not be alone in this attempt to curb OPEC’s clout on the global oil market.

2018 150

IHS Markit: global oil demand still growing in the short term despite increasing focus on EVs

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Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider. million barrels per day over the last five years, IHS Markit says in the new report from its oil markets and research team. Electric (Battery) Forecasts Fuel Efficiency Market Background Oil

2018 234

IEA: Petrochemicals set to be the largest driver of world oil demand

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Petrochemicals—components derived from oil and gas that are used in all sorts of daily products such as plastics, fertilizers, packaging, clothing, digital devices, medical equipment, detergents and tires—are becoming the largest drivers of global oil demand, in front of cars, planes and trucks, according to a major study by the International Energy Agency (IEA). Petrochemicals are rapidly becoming the largest driver of global oil demand.

2018 233

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

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As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated market will reach an equilibrium with higher commodity prices by 2018 and U.S. oil may not be able to fill. Market Background Oilby Haley Zaremba for Oilprice.com.

2017 163

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

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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.

Plug Power, Charlatte America deliver fuel cell cargo tuggers for FedEx at Albany International Airport

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and Charlatte America, a member of the Fayat Group, the leading manufacturer of battery powered electric airport ground support equipment (GSE) throughout Europe and the United States, have delivered fuel cell-powered electric cargo tuggers for use by FedEx at the Albany International Airport. The ProGen powered tuggers are in operation at the Albany International Airport transporting FedEx packages from the sorting facility to delivery airplanes. Plug Power Inc.

2019 186

IHS Markit: conventional oil & gas discoveries at lowest levels in 70 years; major rebound unlikely

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Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by global business information provider IHS Markit. The low levels in discoveries come as a result of a pullback during the past 10 years in the wildcat drilling that targets conventional oil and gas plays—most drastically after oil prices collapsed in 2014. Market Background Natural Gas Oil

2019 183

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

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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. The United States is set to put its stamp on global oil markets for the next five years. Global oil production capacity is forecast to grow by 6.4

2018 195

NEXCEL testing demonstrates potential 2g/km CO2 reduction by ensuring precise oil-engine match

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Testing of the latest Nexcel active engine oil management system ( earlier post ) across three different engine types has a{demonstrated} the system’s potential to reduce CO 2 emissions by 2 g/km. The reduction is delivered by ensuring a precise oil-engine match, helping the oil to warm up more quickly and boosting the oil’s active components in-between oil changes. This pushes up the oils’ viscosity and can therefore increase emissions.

2018 175

Worldwatch: Fossil fuel subsidies continue to outweigh those for renewable energy; international pledges on reform unfulfilled

Green Car Congress

Although independent reporting on these subsidies has increased, global efforts to move forward with subsidy reform have been hindered by a variety of causes, leaving international pledges unfulfilled. of the GDP for 2011–12, according to the International Institute for Sustainable Development’s Global Subsidies Initiative ( GSI ). Oil demand would be reduced by 3.7 Fuels Oil Policy

2012 256

Skolkovo Foundation greenlights £9.3M international consortium to make oil refining in Russia more efficient and sustainable

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Researchers at the Center will run the UNIHEAT project, which will focus on increasing energy efficiency and reducing heat loss in oil refining by up to 15% by improving refining operations, enhancing oil production processes, and reducing CO? I am sure that we will be able to evaluate the results of the Center in the not too distant future, which may lead to a significant decrease of energy losses in oil and gas refining.

2012 191

IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

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Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 The oil market fear that characterized March and the extreme price pressure that producers felt in April have galvanized producers across North America into unprecedented action. Negative oil prices and the collapse of WTI futures contracts were a potent signal that stronger measures, namely shut-ins, were needed to curb oversupply. Forecasts Market Background Oil

2020 170

The Next Oil Price Spike May Cripple The Industry

Green Car Congress

Two diametrically opposed views dominate the current debate about where the oil price is heading. On the one hand, there is the view that the price of oil will be “ lower for longer ”, or even “ lower forever ”, as the electrification of transport will eat away at oil demand more and more while, at the same time, technological innovation ( shale in particular ) will greatly increase economically recoverable resources. Why the price of oil actually isn’t that low.

2017 163

China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

Green Car Congress

CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. Nexen is focused on three core businesses: conventional offshore oil and gas; oil sands; and shale gas: Conventional oil and gas. It is the second-largest oil producer in the UK North Sea.

IEA says oil supplies may not keep up with demand

Green Car Congress

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. In its latest annual World Energy Outlook , the International Energy Agency (IEA) warned that the current period of oil abundance may be fleeting, and in fact, without heroic levels of production increases, oil markets will grow dangerously tight in the coming years. Market Background Oil

2014 218

Syrian oil ministry announces oil shale tender

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Syria’s Ministry of Petroleum and Mineral Resources has announced a tender for investing in oil shale in the Khanaser area, 103 km in southeastern Aleppo, over an area of 150 km 2 divided into 14 blocks with geological reserves of 2.3 Oil shale deposits in Syria. The total crude reserves at the site are estimated at 39 billion tons, and the oil content rate is valued between 5 and 11%, located at depths close to the surface.

2011 231

Opinion: Why oil prices must go up

Green Car Congress

It may be difficult to look beyond the current pricing environment for oil, but the depletion of low-cost reserves and the increasing inability to find major new discoveries ensures a future of expensive oil. While analyzing the short-term trajectory of oil prices is certainly important, it obscures the fact that over the long-term, oil exploration companies may struggle to bring new sources of supply online. The industry did not log a single “giant” oil field.

2015 170

Alcoa completes acquisition of RTI International Metals, expands titanium capabilities

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Alcoa recently completed the acquisition of RTI International Metals, Inc., RTI’s titanium operations span midstream processes such as melting, ingot casting, bloom, billet, plate and sheet production; and downstream extrusions for aerospace, oil and gas applications, high speed machining, and production of integrated subassemblies primarily for aerospace. a provider of titanium and specialty metal products and services for the aerospace, defense, energy and medical device markets.

2015 192

European Parliament calls for international ban on heavy fuel oil in Arctic

Green Car Congress

The European Parliament is calling for an international ban on the use and carriage of heavy fuel oil on vessels operating in the Arctic, like that which is to apply to the Antarctic from August 2011. Further, it asked the EU to impose a strict regime limiting soot emissions and the use of heavy fuel oil by vessels calling at EU ports prior to voyages through Arctic waters.

2011 170

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

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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. The biggest banks remain bullish on oil prices, expecting moderate price gains by the end of the year, even after last month WTI prices dropped below $50 for a couple of weeks.

2017 150

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

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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. Due to the global decision to invest in maritime battery systems, interest in Siemens battery solutions is also growing on the international market. Batteries Oil Ports and Marine

2019 207

ICCT: IMO committee agrees to establish first climate framework for international shipping

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The International Council on Clean Transportation (ICCT) reports that the Marine Environment Protection Committee of the International Maritime Organization (IMO) has adopted a resolution codifying an initial greenhouse gas (GHG) strategy for international shipping. The strategy implies that international shipping would consume between 3.8%

2018 163

Algenol closes on additional $25M internal equity financing

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It is then isolated and purified, while the algal biomass is processed to extract and produce a bio-oil co-product. The algal bio-oil can be used to produce biodiesel, renewable diesel, or other bio-oil-derived products. Algal fuels producer Algenol has closed on a $25-million dollar investment from BioFields, a Mexican business group devoted to the development of renewable and clean energy projects.

2015 179

Opinion: Oil Market ShowdownCan Russia Outlast The Saudis?

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November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. per barrel oil in 2015 and 2016 respectively, while the October projections are based $51.62 Both the Saudi and Russian governments depend on energy revenues to fund their budgets—oil funds ~90 percent of the Saudi budget and oil and natural gas ~52 percent of the Russian budget. Market Background Oil Opinion Russia

Russia 216

The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

Green Car Congress

OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia’s Manifa problems grabbing the headlines. Saudi Aramco CEO Amin Nasser, while addressing the World Petroleum Congress in Istanbul, stated that the outlook for oil supplies is “ increasingly worrying ”, due to a loss of $1 trillion ($1,000 billion) in investments last year. After the Danish concession, the operations are set to be led by French oil major Total.

2017 174

For our own security it’s time to ditch oil dependency

My Electric Car

It’s been obvious for a long time that our position in Australia is rather precarious when it comes to our reliance on oil. The drone attacks on the Saudi oil fields brought this point into sharp focus over the past few days.

2019 82

Opinion: The Shale Delusion: Why The Party’s Over For US Tight Oil

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The party is over for tight oil. Despite brash statements by US producers and misleading analysis by Raymond James, low oil prices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oil prices as the world production surplus continues. In other words, outside of the very best areas of the Eagle Ford, Bakken and Permian, the tight oil party is over because companies will lose money at forecasted oil prices for the next year.

2015 210

Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

Green Car Congress

World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). 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 Such an increase in capacity could prompt a plunge or even a collapse in oil prices, he suggests. shale oil production. Oil: The Next Revolution."

2012 221