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

Oil 339

U Delaware team develops chemocatalytic process to convert waste polypropylene to lube oils

Green Car Congress

Quantification of critical properties, including pour point, kinematic viscosity, and viscosity index, indicates that the products are promising alternatives to currently used base or synthetic oils. Catalysts Lubricating Oils Plastics Recycling

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

Green Car Congress

This fall was driven mainly by oil, which accounted for almost three quarters of the net decline. World oil production fell for the first time since 2009 by 6.6 Oil consumption also dropped for the first time since 2009 by a massive 9.1

Oil 326

White House: OPEC+ oil production increases “simply not enough”

Green Car Congress

On Wednesday, US National Security Advisor Jake Sullivan issued a statement calling on OPEC+ to increase oil production: While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022.

Oil 222

ExxonMobil reports oil discovery at Pinktail, offshore Guyana

Green Car Congress

In addition to successful appraisal of the Turbot discovery, the Turbot-2 well encountered 43 feet (13 meters) of net pay in a newly identified, high quality hydrocarbon bearing sandstone reservoir separate from the 75 feet (23 meters) of high quality, oil bearing sandstone reservoir pay encountered in the original Turbot-1 discovery well. The Liza Destiny FPSO vessel is currently producing approximately 120,000 barrels of oil per day. Market Background Oil

Guyana 170

EIA forecasts rising global oil production will limit price increases

Green Car Congress

EIA forecasts production will increase more rapidly than consumption, ending the large global stock draws seen in the first two quarters of 2021 and limiting upward crude oil price movement. EIA expects US crude oil production will average 11.8 Forecasts Market Background Oil

Oil 222

ExxonMobil announces significant oil discovery at Whiptail, offshore Guyana

Green Car Congress

The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which has encountered 167 feet (51 meters) of net pay in high-quality oil-bearing sandstone reservoirs.

Guyana 222

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

Green Car Congress

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.

US EIA: US crude oil production fell by 8% in 2020, the largest annual decrease on record

Green Car Congress

US crude oil production averaged 11.3 The production decline resulted from reduced drilling activity related to low oil prices in 2020. In January 2020, US crude oil production reached a peak of 12.8 Crude oil production in Texas averaged 4.87

Oil 339

Study finds global oil demand likely to grow despite pandemic, climate policies

Green Car Congress

The COVID-19 pandemic has significantly affected both consumer and commercial transportation, but global oil demand will probably continue to grow through 2030, according to a new study. In three of the four scenarios, global oil demand continued to grow through 2030.

Novvi LLC begins production of 100% renewable base oils & process oils

Green Car Congress

Novvi LLC announced the successful start-up of its Deer Park, TX plant, where it is manufacturing and marketing 100% renewable base oils ( NovaSpec Base Oils ) for the lubricants industry, and 100% renewable process oils for polymer, adhesives, and personal care industries. Cosan, American Refining Group, Chevron, and H&R created to develop, produce, market, and distribute high-performance oils and lubricants from renewable sources.

2020 213

Researchers find abundance of oil-eating bacteria in northeast Atlantic

Green Car Congress

A team of scientists from Heriot-Watt University has found the waters in the Faroe-Shetland Channel (FSC) are teeming with oil-eating bacteria. The FSC is a deepwater sub-Arctic region where the oil and gas industry has been active for the last 40?years. In the event of an oil spill, our results suggest that the response of these organisms is severely hindered by the low temperatures and nutrient levels that are typical for the FSC. Market Background Oil Ports and Marine

Oil 196

ExxonMobil discovery at Uaru-2 offshore Guyana; block recoverable resource estimate upped to 9B barrels oil-equivalent

Green Car Congress

ExxonMobil announced an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana ( earlier post ). meters) of high-quality oil-bearing reservoirs including newly identified intervals below the original Uaru-1 discovery. Market Background Oil

Guyana 222

IEA: key oil trends 2018

Green Car Congress

Total OECD annual production of crude oil, natural gas liquids (NGL), and refinery feedstocks increased by 10.3% Canadian production also increased on an annual basis (+8.1%), due to robust production of crude oil, while Mexico’s production continued to fall (-6.3%). The OECD Americas was responsible for 85% of total OECD production of crude oil, NGL and refinery feedstocks in 2018, with 56% of this being produced in the United States. Market Background Oil

2018 192

TUAT team develops more efficient method to recover heavy oil using novel chemical flooding

Green Car Congress

By making use of a previously undesired side effect in oil recovery, researchers at Tokyo University of Agriculture and Technology (TUAT) have developed a method that yields up to 20% more heavy oil than traditional methods. Market Background Oil

2020 222

Audi first car manufacturer to introduce second-generation prelube oils; start with Q6 e-tron electric SUV in 2022

Green Car Congress

With the conventional lubrication Prelube I (left), one gram of oil is applied over every square meter of sheet steel. grams of oil are required for every square meter. The new oil class creates a protective film on the surface of a metal sheet that is thicker and does not run off.

ExxonMobil begins oil production in offshore Guyana; estimated ~6B barrels oil equivalent recoverable in Stabroek Block

Green Car Congress

ExxonMobil has started oil production from the Liza field offshore Guyana ahead of schedule and less than five years after the first discovery of hydrocarbons, which is well ahead of the industry average for deepwater developments. Market Background Oil

Guyana 212

IHS Markit: Canadian oil sands production exceeds pre-pandemic levels, but lower than prior projections

Green Car Congress

Canadian oil sands production has fully recovered from last year’s “COVID-19 Shock”—the largest contraction of upstream production in Canadian history—and has exceeded pre-pandemic levels. However, lingering COVID impacts, pipeline constraints and uncertainties related to an accelerating energy transition have reduced the longer-term growth projection for oil sands. The latest forecast by the IHS Markit Oil Sands Dialogue expects Canadian oil sands production to reach 3.6

California Governor orders end to fracking by 2024, instructs CARB to analyze pathways to phase out oil-production by 2045

Green Car Congress

Additionally, Governor Newsom requested that the California Air Resources Board (CARB) analyze pathways to phase out oil extraction across the state by no later than 2045. California’s production of oil has been steadily dropping since 1985. Market Background Oil Policy Regulations

Oil 209

IHS Markit: oil sands greenhouse gas intensity declined 20% over past decade

Green Car Congress

New research by the IHS Markit Canadian Oil Sands Dialogue shows that the combined greenhouse gas (GHG) intensity of Canadian oil sands projects has declined 20% from 2009 levels. The new analysis, using most recent data available, shows trends remaining in line with previous IHS Markit projections that oil sands GHG intensity will decline by at least 16 to 23% by 2030 (to a level 30% below 2009). This is important and it goes beyond just the oil sands.

Marathon Petroleum, ADM to form soybean oil JV to support renewable diesel production

Green Car Congress

MPC) and ADM announced an agreement to form a joint venture for the production of soybean oil to supply rapidly growing demand for renewable diesel fuel. When complete in 2023, the Spiritwood facility will source and process local soybeans and supply the resulting soybean oil exclusively to MPC. We already provide MPC with soybean oil for renewable diesel production, but this agreement will significantly expand our collaborative relationship. Marathon Petroleum Corp.

Diesel 269

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

Green Car Congress

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

How crude-oil prices influence gasoline prices

Green Car Congress

Gasoline is one of the products refined from crude oil. Thus, the price of crude oil should have a strong influence on the price of gasoline. The Energy Information Administration (EIA) estimates that in the United States from 2008 to 2017, crude oil represented only 61% of the retail price of gasoline. So how strong, indeed, is the relationship in the United States between crude-oil and gasoline prices? Fuels Market Background Oilby Michael Sivak.

2018 194

ExxonMobil, Georgia Tech and Imperial College London publish joint research on potential breakthrough in membrane technology for oil refining

Green Car Congress

Scientists from ExxonMobil, the Georgia Institute of Technology and Imperial College of London have published in the journal Science joint research on potential breakthroughs in a new membrane technology that could reduce emissions and energy intensity associated with refining crude oil.

2020 284

68% of primary energy imports to US in 2018 was crude oil; 48% of US energy exports were petroleum products

Green Car Congress

The majority (69%) of primary energy imported into the United States in 2018 was crude oil, with petroleum products and natural gas also having significant shares, according to the US Energy Information Administration (EIA). Market Background Oil

2020 240

Oleophobic hydrophobic magnetic sponge selectively soaks up oil, sparing water and wildlife

Green Car Congress

A Northwestern Engineering-led team has developed a highly porous smart sponge that selectively soaks up oil in water. With an ability to absorb more than 30 times its weight in oil, the sponge could be used to clean up oil spills inexpensively and efficiently without harming marine life.

2020 222

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

Green Car Congress

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

Shell producing base oil from natural gas for motor oils

Green Car Congress

Shell PurePlus Technology is now being used to create motor oils for motorists in the United States. Pennzoil Platinum and Pennzoil Ultra Platinum Full Synthetic motor oils are the only ones blended exclusively with these GTL base oils. Shell PurePlus Technology base oil is manufactured at the Pearl GTL facility in Ras Laffan in Qatar, a partnership between Qatar Petroleum and Shell. Richard Dixon, Shell North America Motor Oil Technology Manager.

2014 242

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

Green Car Congress

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

Green Car Congress

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

IHS Markit: small long-term change for Canadian oil sands despite COVID-19 Shock & largest annual production decline in 2020

Green Car Congress

Canadian oil sands production is expected to decline by nearly 175,000 barrels per day (b/d) in 2020 as a result of COVID-19—the largest annual decline on record. Forecasts Market Background Oil sands

2020 209

Upcycling polyethylene plastic waste into lubricant oils

Green Car Congress

Researchers in the US have developed a catalytic upcycling process using platinum nanoparticles supported on perovskites to convert single-use polyethylene (PE) (such as grocery bags) into value-added high-quality liquid products (such as motor oils and waxes). These liquids could be used as motor oil, lubricants or waxes, or further processed to make ingredients for detergents and cosmetics. Catalysts Lubricating Oils Plastics Recycling

2019 150

Study suggests microbe produces methane from crude oil all by itself

Green Car Congress

Crude oil and gas naturally escape from the seabed in many places known as seeps. This microbe, an archaeon named Methanoliparia , transforms the hydrocarbons by a process called alkane disproportionation: it splits the oil into methane (CH 4) and carbon dioxide (CO 2 ). Epifluorescence microscopy picture of Methanoliparia-cells attached to a droplet of oil. (© Max Planck Institute for Marine Microbiology). Microscopy shows that Methanoliparia cells attach to oil droplets.

2019 234

Oil Prices Ravaged By Financial Turmoil

Green Car Congress

Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market. A rebound for the greenback led to a steep decline in oil prices on Friday. At the same time, sudden turmoil in the broader financial system also bled over into the oil market. The stock market and interest rates can really affect oil a lot,” Mark Waggoner, president of Excel Futures, told The Wall Street Journal. “It’s Market Background Oil

2018 183

BNL team uses nc-AFM to find sulfur and nitrogen atoms in crude oil molecules

Green Car Congress

Researchers from the Center for Functional Nanomaterials at Brookhaven National Laboratory and users from ExxonMobil have developed a new approach to identifying atoms that are neither carbon nor hydrogen within a specific type of molecule in crude oil. Emissions Fuels Oil

2019 232

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

Green Car Congress

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

IHS Markit: oil price collapse will change trajectory of North American gas supply

Green Car Congress

The trajectory of North American gas supply is set to change radically as a result of the fall in oil prices that has occurred due to COVID-19 and the breakdown in production cooperation between OPEC and Russia, according to IHS Markit. The impact of low oil prices could result in a drop of 8-10 billion cubic feet per day (Bcf/d) in associated gas volumes by the end of 2021. Associated gas is regular natural gas that is produced together with oil out of the same well.

2020 185

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

Green Car Congress

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 240

ExxonMobil discovers more oil offshore Guyana at Mako-1 well on the Stabroek Block

Green Car Congress

ExxonMobil announced an oil discovery offshore Guyana at the Mako-1 well southeast of the Liza field, marking the 15 th discovery on the Stabroek Block. Mako-1 encountered approximately 164 feet (50 meters) of a high-quality oil bearing sandstone reservoir.

Guyana 212

Huge Backlog Could Trigger New Wave Of Shale Oil

Green Car Congress

The latest crash in oil prices once again raises this prospect. On the one hand, lower oil prices – despite the recent rebound, prices are still down sharply from a few months ago – can cause some E&Ps to want to hold off on drilling new wells. The lower oil price raises some questions about whether you go ahead with completing these wells,” Tom Petrie, head of oil and gas investment bank Petrie Partners, told S&P Global Platts. Market Background Oil

2019 203

Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

Green Car Congress

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

Bank of America: Oil Demand Growth to Hit Zero Within a Decade, EVs the Culprit

Green Car Congress

By 2030, oil demand could hit a peak and then enter decline, according to a new report. For the next decade or so, oil demand should continue to grow, although at a slower and slower rate. According to Bank of America Merrill Lynch, the annual increase in global oil consumption slows dramatically in the years ahead. That would alter oil demand forecasts, but in complicated ways. All of that implies a peak in oil demand by 2030, a little over a decade from now.

2019 251

Production of crude oil as a percentage of proved reserves: Recent worldwide and U.S. trends

Green Car Congress

In this analysis, I examined the relation between crude-oil production and crude-oil reserves in the world and in the United States. The variable of interest was the amount of crude oil produced as a percentage of proved reserves of crude oil. The raw data for this study were proved reserves of crude oil (obtained from Oak Ridge National Laboratory ), and annual crude-oil production (calculated from the information in the same source). by Michael Sivak.

2019 205