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The City of Indianapolis will upgrade 425 non-police-pursuit sedans in its muncipal fleet to plug-in hybrid and battery electric vehicles by early 2016, cut the size of the fleet by 100 vehicles, and save $8.7 The City will replace 100 vehicles by the end of this year and 425 vehicles by the beginning of 2016. million over ten years.
With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oilprices could remain below $50 a barrel for a year or more. Stripper-operated wells account for all of the oil production in the state of Illinois, for instance.
To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 million barrels daily, including from Russia, to reverse the free fall of oilprices.
despite huge demand for biofuels from transportation end-markets, access to inexpensive feedstocks and financing hurdles remain challenging obstacles for biofuels production trying to keep pace with emerging mandates. Ultimately, widespread commercialization will depend on whether these ventures can reach price. dominance and reach 49.5
between 2017 and 2021, as a combination of higher oilprices, emerging mandate. The report identifies a number of key trends, including: Oilprices are expected to climb over the next decade, driving increased interest in. Governments are expected to retreat from stimulus investment highs, shifting financing.
In fact, Jeffries sees the spring of 2016 as a more critical deadline for struggling drillers hoping to keep their credit lines open. “We Maintaining access to finance can come at a price. Bond markets have essentially been ruled out as a new source of finance for high-yield producers.
This comes at a time when companies are facing a prolonged period of lower prices and when access to financing from capital markets has become difficult, the report says. It all represents the strongest headwinds for shale producers since the oilprice collapse in 2015. —Raoul LeBlanc. —Raoul LeBlanc.
If You’re a Free Range Oil Producer. Despite low oilprices, Saudi Arabia is maintaining its investment in its oil industry. Of this, the Saudi government will finance $239 billion, while private investors will finance $79 billion, as well as investments in refining (which it does not specify).
The point is, with volumes languishing (and probably poised to decline) tied to a flat oil futures price curve and with economics marginal at $60 per barrel, many E&P operators find themselves running through hedges in 2015 and still in need to finance their already reduced capital spending.
One casualty of the oilprice downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oilprices, however, could kill off the megaproject.
Electric vehicles will make up the majority of new car sales worldwide by 2040, and account for 33% of all the light-duty vehicles on the road, according to a new forecast published by Bloomberg New Energy Finance (BNEF). This represents an aggressive jump compared to BNEF’s previous forecast of 35% EV new car market share by 2040.
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. Prices rebounded to $60 for a few months, before falling once again below $50.
million units, aided with increased auto finance penetration, fast dealership expansion and government vehicle scrappage programs. The size of the market contraction in Russia is the biggest wild card facing vehicle manufacturers across the European continent, if not the world, in 2015 and 2016.” million units.
OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oilprices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. percent in 2016. MMbbls/day.
The Saudi decision to let the market set prices and to pursue market share, has led to steep declines in crude and petroleum product prices. The decision also has impacted natural gas export prices negatively, since, for Russia's long-term supply agreements, they wholly or partially are indexed to oilprices.
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