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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com. 2 Total SA.
Increased activity in the Exploration and Production (E&P) sector will be the primary driver in pushing oil and gas capital expenditure (capex) to $1.039 trillion for 2012, according to the latest report by business intelligence firm GlobalData. North America is expected to witness the highest capex globally, with $254.3
million units annually by 2016. million unit global NGV market which we forecast will expand at a compound annual growth rate (CAGR) of 7.9% million vehicles by 2016. Natural gas refueling station development is not expected to achieve the same growth rate, but will reach nearly 26,000 stations worldwide by 2016.
Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact globaloil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “ —Gabriel Collins.
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.
Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting globaloil 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.
John Hofmeister, former President of Shell Oil Company and founder and CEO of Citizens for Affordable Energy (CFAE), is joining the Fuel Freedom Foundation (FFF) Advisory Board. There will not be enough oil to stay on the path we’re on globally over the short- and medium-, let alone the long-term. We need a competitor for oil.
Globaloil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. Oil discoveries declined to 2.4
Pike Research forecasts that the global market for biofuels will more than double over the coming decade, increasing from $82.7 BGPY in 2011) would represent just 7% of the estimated global transportation fuels market in 2021. The Americas are projected to account for 71% of global biofuels production. billion in 2011 to $185.3
Separately, Solazyme and Archer-Daniels-Midland Company, a leading global agricultural processor, signed strategic collaboration, manufacturing and market development agreements in which Solazyme and ADM will produce Solazyme’s tailored algal oils in ADM’s advanced fermentation plant at Clinton, Iowa. Solazyme, Inc., Earlier post.).
The company also announced plans to reduce usage another 25% on a per-vehicle basis by 2016. In addition to its commitment to further reducing energy consumption, Ford also: Reduced the total amount of waste sent to landfills globally by 11.3%
That figure is also up sharply from the 5,271 from the same month in 2016, a 60 percent increase. The latest crash in oil prices once again raises this prospect. oil production aloft at a time when low prices are starting to curtail drilling activity. The calculus on completing wells can cut two ways. production levels.
One will be a PHEV version of the new Chrysler Town & Country minivan to be introduced in 2016; the second will be a PHEV version of a new full-size crossover vehicle to be introduced in 2017. FCA will launch a PHEV minivan in 2016 to comply with ZEV requirements. Variable displacement oil pump. —Bob Lee. —Bob Lee.
Tillerson said that even with significant efficiency gains, ExxonMobil expects global energy demand to increase by 30% by 2040, compared to 2010 levels. Demand for electricity will make natural gas the fastest growing major energy source and oil and natural gas are expected to meet 60% of energy needs over the next three decades.
A new study by the International Council on Clean Transportation (ICCT) estimates heavy fuel oil (HFO) use, HFO carriage, the use and carriage of other fuels, black carbon (BC) emissions, and emissions of other air and climate pollutants for the year 2015, with projections to 2020 and 2025. Click to enlarge.
Like many industries today, the oil industry is trying to sell its many job opportunities to the fastest growing portion of the global workforce: Millennials. But unlike any other industry, oil and gas is facing more challenges in persuading the environmentally-conscious Millennials that oil is “cool”. labor force.
The new 2016 Ford Explorer SUV is making its global debut today at Los Angeles Auto Show with a new available 2.3-liter liter EcoBoost employs an active oil control system to optimize pressure when less fluid is needed. liter EcoBoost four-cylinder engine that delivers more horsepower and torque than the 2.0L
Second, LNG is, and has been, less expensive than MGO and is now in some regions cheaper than heavy fuel oil (HFO). Moreover, to comply with IMO’s 2020 global sulfur limit, ships must either switch from HFO to more expensive very low sulfur fuel oil (VLSFO) or use HFO with a scrubber, if they have one installed. Olmer et al.
In its latest edition of the Short-Term Energy Outlook , the US Energy Information Administration (EIA) forecasts that US crude oil production will average 10.3 EIA also forecasts that 2019 crude oil production will rise further to an average of 10.8 US crude oil production averaged an estimated 9.3 million b/d set in 1970.
shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S. oil production,” the consultancy noted.
Meeting the goal of cutting US oil dependence depends largely on two things, Obama said: finding and producing more oil at home, and reducing dependence on oil with cleaner alternative fuels and greater efficiency. The Administration is pushing the oil industry to produce on leases already held.
Based on a proven global architecture, the new Canyon will initially offer two engines, with a Duramax 2.8L turbodiesel engine coming in the 2016 model year. incorporates a two-stage variable-displacement oil pump, for greater efficiency, as well as a balance shaft located in the oil pan, for greater refinement.
In 2017, emissions from GHG emitting activities statewide were 424 million metric tons of CO 2 equivalent (MMTCO 2 e), 5 MMTCO 2 e lower than 2016 levels and 7 MMTCO 2 e below the 2020 GHG Limit of 431 MMTCO 2 e. Compared to 2016, California’s GDP grew 3.6% It does not include emissions from petroleum refineries and oil production.
Dow will leverage its global marketing know-how to market and sell on behalf of Sadara to the rest of the world. All units are expected to be up and running in 2016. billion barrels of proven reserves of crude oil, the largest, and 279 trillion cubic feet of gas reserves, the fourth-largest in the world. The Company manages 260.1
Pike forecasts that the global market for biofuels will increase from $82.7 between 2017 and 2021, as a combination of higher oil prices, emerging mandate. Pike projects that the Americas will account for 71% of global biofuels production. BGPY in 2011) would represent just 7% of the global transportation fuels market in 2021.
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. In recent years, U.S. shale output.
The new lifecycle sustainability approach will be included as standard across the full AeroShell product range, including turbine engine oils (TEOs), piston engine oils (PEOs), greases and fluids, for both the commercial airline and general aviation markets.
The ECO STAR 36K will be able to operate on HFO (heavy fuel oil), MDO (marine diesel oil) and gas oil, as well as LNG, and, as a world novelty, on ethane (C 2 H 6 ). Their delivery is scheduled from the second half of 2016 onwards. Furthermore, it can utilize the boil-off gas from its cargo.
On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. In 2016, only 3.7 billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 percent of global proved reserves. When will Russia run out of oil?
Global carbon emissions from burning fossil fuels did not grow in 2015 and are projected to rise only slightly in 2016, marking three years of almost no growth, according to researchers at the University of East Anglia (UEA) and the Global Carbon Project. for 2016 marks a clear break from the rapid emissions growth of 2.3%
OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia’s Manifa problems grabbing the headlines. At the same time, Saudi Arabia’s export volumes have been hit by high local summer demand for crude oil and products. by Cyril Widdershoven for Oilprice.com.
last year, its fastest pace this decade, an exceptional performance driven by a robust global economy and stronger heating and cooling needs in some regions, according to the IEA. As a result, global energy-related CO 2 emissions rose by 1.7% last year, just half the rate of the period between 2014-2016.
Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. Geopolitical tension has been largely irrelevant since the collapse of oil prices in 2014, but it’s making a return now that cracks have emerged in some key oil-producing nations. bank Citi said.
The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. by David Yager for Oilprice.com.
Under the Reference case, domestic crude oil production is expected to grow by more than 20% over the coming decade; already, domestic crude oil production increased from 5.1 Over the next 10 years, continued development of tight oil (e.g., Over the next 10 years, continued development of tight oil (e.g.,
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.
Transporting oil by pipelines is more than twice as safe as using rail, and marine tankers are safer still with a markedly improved safety record over the past 40 years, according to a new study released by the Fraser Institute, a Canadian policy think-tank. accidents per million barrels of oil shipped by rail over the same period.
Suncor is targeting 1 million barrels per day output in 2020, with its growth in the oil sands underpinned by its alliance with Total. Approximately 80% of that production will be from the oil sands. The agreement with Total is an important element of Suncor’s plans to more than double our oil sands production.
Neste has published updated information about all its crude palm oil suppliers on the company’s website. all companies, mills, and estates that supplied Neste with crude palm oil in 2016. Crude palm oil’s role in Neste’s raw material portfolio has become less significant in recent years.
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. OPEC and US crude oil production.
Oil prices have climbed by about 50 percent from their February lows, topping $40 per barrel. US oil production has steadily lost ground over the past two quarters, with production falling more than a half million barrels per day since hitting a peak at nearly 9.7 That has sparked a renewed sense of optimism among oil traders.
ExxonMobil’s newly released Outlook for Energy: A View to 2040 anticipates that global energy needs will rise about 25% over the period to 2040, led by non-OECD countries. The Outlook projects that global transportation-related energy demand will increase by close to 30% by 2040. —T.J. Energy & Carbon Summary.
At the New York International Auto Show, Chevrolet introduced the all-new 2016 Spark—a completely redesigned and more sophisticated execution of the brand’s global minicar. The 2016 Spark is powered by an all-new 1.4L engine that is part of GM’s new, global family of Ecotec small-displacement engines. Spark’s new 1.4L
The license agreement is global in scope and extends to 22 foreign countries where patents have been filed. This is accomplished by separately pumping steam and the feedstock oil at high temperature and pressures into a Colgate-Emery reactor. Step 2: deoxygenation. Click to enlarge. Hydrocarbon reforming.
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