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

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The International Energy Agency’s Monthly Oil Statistics shows that there are differences in refinery output throughout the world. In the Americas, gasoline accounted for just above 40% of the products refined from petroleum in 2019, while in Europe and Asia Oceania, gasoline was less than 20%.

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EIA: At least 9 new refinery projects to come online before end of 2023 in Asia and Middle East; 2.9 MMb/d

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In Asia and the Middle East, at least nine refinery projects are beginning operations or are scheduled to come online before the end of 2023, according to the US Energy Information Administration (EIA). In the International Energy Agency’s (IEA) June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0

Asia 418
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OMV says it will stop oil and gas production by 2050 in transformation to net-zero

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Austria-based OMV, an international, integrated oil, gas and chemicals company, announced its intention to become a net-zero (Scope 1, 2 and 3) company by no later than 2050. OMV’s successful partnership with Abu Dhabi-based Borouge is the main vehicle for meeting growing customer demand in the Middle East and Asia.

Oil 465
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Eni report: global oil reserves and oil production up in 2018 due to US

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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.

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EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia

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In its International Energy Outlook 2019 (IEO2019), the US Energy Information Administration (EIA) projects that world energy consumption will grow by nearly 50% between 2018 and 2050. EIA projects most of this growth will come from regions where the consumption of energy is driven by strong economic growth, particularly in non-OECD Asia.

Asia 220
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IEF, IHS Markit: deepening underinvestment in hydrocarbons raises specter of continued price shocks and volatility

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Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. Investment slumped by 30% in 2020. —Joseph McMonigle.

Price 416
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Report suggests low-speed electric vehicles could affect Chinese demand for gasoline and disrupt oil prices worldwide

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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil 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.