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The price of US benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020 as demand returns faster than supply, according to the US Energy Information Administration (EIA). US crude oil inventories were 440.3 US crude oil production then fell to 9.7
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).
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.
Despite the decision to de-emphasize microbial oil, Neste Oil emphasized that cellulosic waste will continue to play an important role in its research strategy, adding that it remains committed to its goal of further extending its feedstock base and making greater use of waste and residues in this area in particular.
2014 Ram 1500 EcoDiesel. liter V6 EcoDiesel-powered 2014 Ram 1500 pickup ( earlier post ) has earned a 28-mpg (8.4 l/100 km) highway, a rating that stands for model-year 2014. The Ram 1500 now owns the half-ton pickup segment’s top two spots in the EPA’s 2014 highway fuel-economy rankings. Click to enlarge.
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). trillion cubic feet (Tcf) in 2017, beating the 2014 record of 388.8
Prototype low-viscosity ionic liquid-additized engine oil demonstrated a 2% improved fuel economy compared to Mobil 1 5W-30 engine oil (3.93% over the 20W-30 baseline oil) in standard fuel efficiency engine dynamometer tests. 1%) in nonpolar hydrocarbon oils. —Dr.
When the all-new 2014 Chevrolet Corvette arrives late next year, it will be powered by a new 6.2L 2014 LT1 6.2L All-aluminum block and oil pan. A structural aluminum oil pan further stiffens the powertrain. Advanced oiling system, with available dry-sump system. Click to enlarge. Click to enlarge.
During 2014, the global plug-in electric vehicle (PEV) industry is poised to grow by 86% and will surpass more than 346,000 new vehicles sold, according to a new white paper—“ Electric Vehicles: 10 Predictions for 2014 ”—published by Navigant Research. Nonetheless, 2014 may be a breakout year for e-motorcycles.
billion program of pipeline expansions to carry an additional 400,000 barrels per day (bpd) of light oil from North Dakota and western Canada to refinery markets in Ontario, Quebec and the US Midwest. billion investment rounds out our suite of major crude oil new market access initiatives for North American markets. Enbridge Inc.
liter TSI four-cylinder engine in the 2014 Jetta and Passat, followed by the 2014 Beetle. In a presentation at Volkswagen of America’s 2014 line drive in St. The 2014 Jetta. For 2014, the torsion-beam rear suspension that was fitted to the 2.0L The resulting boost in driving performance is manifest. liter engine.
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. Global oil demand is expected to increase by 37 percent by 2040, with a dominant proportion of that coming from developing countries—i.e. China and India.
(PDVSA) is moving forward with a series of new heavy oil developments in the Orinoco Oil Belt that will allow a significant increase in production, while requiring the development of massive new infrastructure, Ruben Figuera, director of new developments in the Orinoco Oil Belt, told delegates to the World Heavy Oil Congress 2014 in New Orleans.
Chrysler’s 2014 Ram 1500 will offer a new, 3.0-liter CGI is engineered to ensure graphite is more uniformly dispersed, which delivers higher strength, enhances durability and reduces noise, vibration and harshness (NVH)—a focus of many EcoDiesel design features, such as its structural aluminum oil pan. Click to enlarge.
a Canadian mid-stream company, and Kinder Morgan Energy Partners formed a 50-50 joint venture to build a crude oil rail loading facility in Edmonton, Alberta, called the Alberta Crude Terminal. Keyera Corp., Kinder Morgan is proposing to construct a 16-inch pipeline to connect its North 40 Edmonton Terminal to Keyera’s Edmonton Terminal.
increased its oil sands production 14% in 2013, from 89,736 barrels per day in 2013 to 102,500 bbls/day in 2013. The increase in production from the company’s oil sands operations in 2013 was largely driven by its Christina Lake project. By the end of 2013, Cenovus had rail capacity to transport 10,000 bbls/d of oil.
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. —Thompson et al.
The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. While diesel and oil-based power is still uneconomic at $60/barrel, the pressure to switch is reduced.
BNSF Railway Company (BNSF) announced a new single-year record capital commitment plan of approximately $5 billion for 2014, approximately a $1 billion increase over its 2013 capital spend. The largest component of the capital plan is spending $2.3 billion on BNSF’s core network and related assets. BNSF also plans to spend approximately $1.6
After adjusting for inflation, this summer’s forecast national average price would mark the highest retail gasoline and diesel prices since 2014. EIA expects higher fuel prices this summer as a result of higher crude oil prices. Greater demand will contribute to higher crude oil prices.
The Mercedes AMG PETRONAS (Petroliam Nasional Berhad) Formula One Team unveiled the F1 W05, its 2014 challenger, at the Circuito de Jerez in southern Spain. Select 2014 F1 powertrain regulation changes. The performance specification of the Power Unit for the 2014 season must be homologated on 28 February. Click to enlarge.
2014 Toyota Corolla LE Eco. Toyota unveiled the 2014 Toyota Corolla—the 11 th generation of the car. The 2014 Corolla is available in four distinct grades: L, LE, S, and the new LE Eco grade. The 2014 Corolla offers two 1.8-liter, Click to enlarge. liter, all-aluminum four-cylinder engines. The base 1.8-liter
The US Environmental Protection Agency (EPA) is proposing a reduction in the cellulosic biofuel and total renewable fuel standards (RFS) for 2014. This reflects EPA’s current estimate of the amount of cellulosic biofuel that will actually be produced in 2014, but EPA will consider public comments before setting the final cellulosic standard.
The nation’s major freight railroads joined US Transportation Secretary Anthony Foxx in announcing a rail operations safety initiative that will institute new voluntary operating practices for moving crude oil by rail. Current federal regulations do not require comprehensive track geometry inspections. Braking Systems.
The US DOE recently awarded $17 million to 17 FY 2014 Small Business Innovation Research (SBIR) Phase II projects to further develop Phase I projects and to produce a prototype or equivalent within two years. Selected vehicle and hydrogen technology projects are: FY 2014 SBIR Phase II vehicle projects. Lead organization. Description.
Stellantis has concluded that 24 engine families in European vehicles sold since 2014, representing 28 million vehicles on the road, are ready to use advanced drop-in eFuel without any powertrain modification, following months of testing at its technical centers across Europe.
2014 Jeep Cherokee. Chrysler introduced the new 2014 Jeep Cherokee mid-size SUV at the New York International Auto Show. liter Tigershark MultiAir 2 I-4 engine is standard in the 2014 Jeep Cherokee. The 2014 Jeep Cherokee provides a choice of three 4x4 systems. Click to enlarge. The 16-valve, 2.4-liter 4x4 systems.
Researchers at DOE’s Brookhaven National Laboratory (BNL) have developed a new method to increase significantly the amount of oil accumulated in plant leaves, which could then serve as a source for biofuel production. This represented an approximately 150-fold increase in oil content compared to wild type leaves. —John Shanklin.
Petrobras’ oil production in Brazil reached an average of 2,126,000 barrels per day (bpd) in October, corresponding to 0.4% October was the company’s ninth consecutive month of oil production growth in the country. October was the company’s ninth consecutive month of oil production growth in the country.
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. by Cyril Widdershoven for Oilprice.com.
The US Environmental Protection Agency (EPA) will not finalize the 2014 applicable percentage standards (the 2014 Renewable Volume Obligations, RVOs) under the Renewable Fuel Standard (RFS) program until sometime next year. Earlier post.). Nearly all gasoline sold in the US is now E10 (10% ethanol). Reactions to the new delay.
per gallon (gal), the highest gasoline price before Memorial Day since 2014, according to the US Energy Information Administration’s (EIA’s) weekly Gasoline and Diesel Fuel Update. The average retail price for regular gasoline in the United States on 24 May, the Monday before the Memorial Day weekend, was $3.02 gal higher than a year ago.
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.
Petrobras’s June oil production in Brazil averaged 2,008 thousand barrels/day (bpd), up 1.7% The company’s oil and natural gas production in Brazil in the same month was 2,426 thousand barrels of oil equivalent per day (boed), indicating a 1.6% from May’s production of 1,975 thousand bpd. rise from May (2,387 thousand boed).
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. According to the California Energy Commission, California oil represented 34.9%
2014 Sprinter. This results in faster heating-up of the oil, therefore minimizing frictional losses after cold starting. Click to enlarge. The new MY2014 Mercedes-Benz Sprinter van for the US now features a 2.1L, 4-cylinder diesel with a t-speed automatic transmission as standard. The familiar V6 diesel is available as an option.
Lux Research has investigated the trends of corporate financing of alternative fuels from oil majors, based on a non-exhaustive database of more than 1,000 deals and partnership engagements from 2000 through September, 2014. Less active oil majors in this space include ExxonMobil and ConocoPhillips.
The GREET (The Greenhouse Gases, Regulated Emissions, and Energy Use in Transportation Model) team at Argonne National Laboratory has released a new version of the widely used GREET lifecycle analysis tool, GREET 2014. Expanded oil sands modeling with more detailed and refined operation data.
In the third quarter of 2014, Petrobras surpassed ExxonMobil’s oil production, and is now the largest producer of liquid hydrocarbons among its publicly traded peers. Considering oil and natural gas, the company is now fourth in the ranking. In the first 11 months of 2014, Petrobras’ average output grew by 4.5%
For the study, the biodiesel (Fatty Acid Methyl Ester) consisted of a mixture of 80% palm-based methyl ester (PME) and 20% biodiesel derived from waste cooking oil—a typical blending ratio of commercial biodiesel in Korea. liter diesel engine and passenger car. 2014.01.089. 2013.07.001.
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. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.
Two diametrically opposed views dominate the current debate about where the oil price is heading. On the other hand, however, there is the view that the price of oil is set to explode, primarily due to underinvestment in the upkeep of brownfields , development of greenfields , and exploration for new resources. We will explain.
In September 2013, China’s net imports of petroleum and other liquids exceeded those of the United States on a monthly basis, making it the largest net importer of crude oil and other liquids in the world, according to figures from the US Energy Information Administration (EIA). million barrels per day, primarily from tight oil plays.
2014 Yaris Hybrid. Toyota’s refreshed 2014 Yaris for Europe offers a choice of four powertrains, including a thoroughly reworked 3-cylinder 1.0 Complementing the reduction in unwanted vibration through increased body stiffness and suspension re-tuning, the new 2014 Yaris also benefits from a marked reduction in interior noise levels.
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