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

Green Car Congress

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. Source: IHS Markit 2018. —Spencer Welch.

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Lux: nearly $7B in private investment in emerging oil & gas E&P technologies over last decade

Green Car Congress

Investment into emerging oil and gas E&P (exploration and production) technologies, which were nearly non-existent in 2003, at just $57 million, have attracted nearly $7 billion in private investment from 497 unique transactions, according to a new report from Lux Research, “ Investing in Next Generation Oil and Gas Technologies ”.

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Chevron Confirms first oil production from deepwater Papa-Terra offshore Brazil

Green Car Congress

Chevron’s Brazilian subsidiary and Petrobras have started crude oil production from Papa-Terra’s floating production, storage and offloading vessel (FPSO) offshore Brazil. Papa-Terra has installed capacity to produce 140,000 barrels of heavy crude per day; the project is estimated to recover 380 million barrels of oil.

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Used Car of the Day: 2003 Toyota MR2 Spyder

The Truth About Cars

The seller says it will have new spark plugs, an oil change, and new trans fluid by then. This one is based in Florida, and sadly not a stick. The car will be available in July and have around 130K miles on the clock at that time. The battery is new, too. The car is apparently in good shape but has some minor issues. The ask is $8,500.

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New study finds GHG emissions from palm oil production significantly underestimated; palm oil biofuels could be more climate-damaging than oil sands fuels

Green Car Congress

The majority (62%) of the plantations were located on the island of Sumatra, and more than two-thirds (69%) of all industrial plantations were developed for oil palm cultivation, with the remainder mostly being Acacia plantations for paper pulp production. Earlier post.). —Dr.

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First oil from ultra-deepwater Jack/St. Malo project in US Gulf of Mexico

Green Car Congress

Chevron announced that crude oil and natural gas production has begun at the ultra-deepwater Jack/St. With a planned production life of more than 30 years, current technologies are anticipated to recover in excess of 500 million oil-equivalent barrels. Malo Oil Export Pipeline, and then onto refineries along the Gulf Coast.

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Japan will begin test drilling for oil and gas off Niigata coast in 2013

Green Car Congress

Japan’s Ministry of Economy, Trade and Industry (METI) will begin test drilling for oil and natural gas in the Sea of Japan off the coast of Niigata Prefecture in April 2013. METI hopes to discover Japan’s largest reserves of these resources—possibly the size of intermediate oil fields in the Middle East, according to METI.

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