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The US Energy Information Administration (EIA) expects US crude oil production to surpass 12.9 In its August Short-Term Energy Outlook (STEO), EIA forecasts US crude oil production to average 12.8 EIA forecasts the Brent crude oilprice to increase the rest of 2023 and to approach $90 per barrel in late 2023.
The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. EIA also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana.
World petroleum and other liquid fuels consumption will increase 38% by 2040, spurred by increased demand in the developing Asia and Middle East, according to the Reference Case projections in International Energy Outlook 2014 ( IEO2014 ), released by the US Energy Information Administration (EIA).
Worldwide energy consumption will grow by 53% between 2008 and 2035 with much of the increase driven by strong economic growth in the developing nations, especially China and India, according to the reference case in the newly released International Energy Outlook 2011 (IEO2011) from the US Energy Information Administration (EIA).
High oilprices, a global economic rebound, and new laws and mandates in Argentina, Brazil, Canada, China, and the United States, among other countries, are all factors behind the surge in production, according to research conducted by the Worldwatch Institute’s Climate and Energy Program for the website Vital Signs Online.
Energy consumption by light-duty vehicles in the United States, AEO2013 and AEO2014, 1995-2040 (quadrillion Btu). LDV energy consumption declines in AEO2014 Reference case from 16.0 Delivered energy demand for heavy-duty vehicles (HDVs) in AEO2014 increases from 5.3 HDV energy demand is tempered somewhat by an average 0.5%
TransCanada Corporation is halting the application process for its proposed Energy East Pipeline and Eastern Mainline projects in Canada. Energy East was to have been a 4,500-kilometer pipeline that would have transported approximately 1.1 The company has also faced unrelenting environmental opposition to the projects.
A new report from the Council on Foreign Relations (CFR)— The Canadian Oil Sands: Energy Security vs Climate Change — claims that prudent greenhouse gas regulations can limit emissions from Canadian oil sands while still enabling robust development of the energy resource. Levi, CFR’s David M.
Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. At a high level, the report notes that there are few signs that the urgently needed change in direction in global energy trends is underway. Click to enlarge. The passenger vehicle fleet doubles to almost 1.7 billion in 2035.
Insights from NTEA’s Fleet Purchasing Outlook , provided by fleet professionals across the United States and Canada, give the entire work truck industry perspective on anticipated purchasing intent and areas of greatest interest to fleet managers.
Uncertainty range of the aviation GHG emissions under the High Oilprice scenario (the most optimistic for biojet adoption), given in a box plot depicting the minimum, quartile, and maximum values. With biojet options, under the high oilprice scenario (the most optimistic for biojet adoption), the median (i.e.,
Critics cite the steep crude oilprice discounts for Canadian producers in the past year as further evidence that rail is not economic. On average in 2012, the price of heavy oils sands was $27 per barrel lower than a comparable barrel on the US Gulf Coast (USGC), and for short periods the difference was more than $40 per barrel.
Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Such an increase in capacity could prompt a plunge or even a collapse in oilprices, he suggests.
—Bergerson and Keith The authors note that while some sources claim that the oil sands are up to 5 times more emissions intensive than conventional oil, others claim that they are as low as 10% more intensive. Both those claims can be defended, with the discrepancies arising “ from an artful choice of the scale of analysis.”.
This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oilprice forecasts by Wall Street’s major investment banks. According to the IEA, supply could lag demand in a few years, which could lead to a surge in oilprices. “
The divergence of West Texas Intermediate (WTI) and Brent crude oilprices in 2011 affected refinery utilization in the United States, particularly in the East Coast (PADD 1) and Midwest (PADD 2) regions, according to a report from the US Energy Information Administration (EIA).
Perspective by Chris Hill, Manager, Central Fleet for the City of Hamilton, Ontario, Canada, and author of Hamilton’s Green Fleet Implementation Plan. [Mr. Hill is currently chair of the Ontario Chapter of NAFA Fleet Management Association, and a Green Party candidate for Canada’s Parliament in the next general election.
However, the new forecast represents a slowing of future oil sands production growth compared to the predictions of last year’s forecast. Conventional oil production in Western Canada, including condensates, remains stable at 1.5 CAPP does not forecast oilprices. Pipelines and proposals. Click to enlarge.
The financial pages of Canadian newspapers have been full of headlines lately announcing the potential of two large shale oil fields in the Northwest Territories said to contain enough oil to rival the Bakken Formation of North Dakota and Montana. WTI crude closed at $59.13 on Friday, June 5 th.
If the proposed broad 20% border-adjustment tax were implemented and applied to the energy sector, the result would likely lead to a large increase in gasoline prices and a big premium in domestic oilprices vs. international, according to new analysis by Bloomberg Intelligence. Pump prices could rise an average $0.30
In November 2009, Syncrude said it was considering incorporating wet crushing technology in the construction of the Aurora South mine trains aimed at improving bitumen recovery levels, energy efficiency and product quality. and Imperial Oil. Nexen Oil Sands Partnership, and Petro-CanadaOil and Gas (Suncor).
However, the US military can play an important role in promoting stability in major oil producing regions and by helping protect the flow of energy through major transit corridors and on the high seas, the reports suggest. Alternative liquid fuels do not offer DoD a way to appreciably reduce fuel costs. Additionally, U.S.
Whether in the field of passenger cars or commercial vehicles, the new energy of vehicles is steadily advancing. Recently, another established truck manufacturer has joined the team of new energy vehicle research and development, which is the American truck brand Kenworth. All commercial vehicles become ZEVs by 2040.
These charges echo those in a complaint against the LCFS filed by two ethanol trade groups—the Renewable Fuels Association (RFA) and Growth Energy—in December 2009. The LCFS violates the Supremacy clause, according to the complaint, because it conflicts with the Energy Policy Act of 2005 (EPAct 2005), Pub. Earlier post.).
World production of fossil fuels—oil, coal, and natural gas—increased 2.9% million tons of oil equivalent (Mtoe) per day, according to a Worldwatch Institute analysis. Energyprices reflected this shift: oil peaked at $144 per barrel in July, then fell to $34 per barrel in December. Oil production reached 10.7
The Government of Alberta, Canada, is now allowing curtailed operators to drill new conventional oil wells without being restricted by production limits. —Sonya Savage, Minister of Energy. Oil production in Alberta in September 2019 was 16.75 Non-conventional (or oil sands) production, which constituted 83.8%
Canadian oil sands production has fully recovered from last year’s “COVID-19 Shock”—the largest contraction of upstream production in Canadian history—and has exceeded pre-pandemic levels. The latest forecast by the IHS Markit Oil Sands Dialogue expects Canadian oil sands production to reach 3.6
Argentina, once a regional energy leader, is now better known for financial busts and bombastic politicians than hydrocarbons prospects. Still, with a resource potential both vast and untapped, the nation has never been far from energy investors’ minds. Oilprices are set at $77.50 Market Background Oil Opinion'
Sustainable Development Technology Canada (SDTC) is awarding Nsolv $13 million in grant funding to commercialize its field-tested, proprietary warm solvent technology for in situ heavy oil extraction without the use of steam. Other extraction methods are not currently commercially viable at this scale. The technology.
New energy research from business information provider IHS Markit has identified more than five billion barrels of oil equivalent (BOE) in numerous smaller, previously bypassed, or underperforming reservoirs outside North America that offer oil and gas operators a shorter-cycle path to production than new, frontier projects in undeveloped areas.
Very broadly, they found that an LCFS would buffer the economy against global oilprice spikes, trim demand for petroleum, and lessen upward pressure on gas prices. We did not shy away from controversy. It does not include mandates for any particular fuel or technology and as such does not attempt to pick winners or losers.
By way of example, while the logistics industry has been negatively impacted, one of the measures so far announced includes the exemptions on payments of highway tolls through the end of June, and subsidies on New Energy Vehicles (NEVs) have been extended for another two years, from 2020 to 2022.
In India, falling inflation, lower interest rates, energyprices and a regained confidence will help lift the car market into growth mode starting in 2015 after a two-year lull. With a strong exit to 2014, and gasoline prices currently plunging, consumers may feel even more positive throughout 2015. North America. million units.
Chevron is taking its technology learnings from Kern River and apply them to Duri and other major heavy oil fields globally, such as Wafra in the onshore Partitioned Neutral Zone (PNZ) between Kuwait and Saudi Arabia and in the Orinoco in Venezuela. The US heavy oil resource approaches 100 billion. Click to enlarge.
SK Innovation, which also owns South Korea’s top refiner SK Energy, said it expects solid refining margins to continue in the second quarter backed by firm demand. The company posted an operating profit of 625 billion won (USD 454 million) for the January-March period, versus a 375 billion won profit a year earlier. .
Over the long term, lower-than-expected oilprices could affect the outlook for oil sands production, and in certain scenarios higher transportation costs resulting from pipeline constraints could exacerbate the impacts of low prices. such a change is not likely to occur under expected market conditions.
The DOS SEIS accordingly takes a detailed look at life-cycle greenhouse gas emissions of petroleum products from Western Canadian Sedimentary Basin (WCSB) oil sands crudes compared with reference crudes and the potential impact the pipeline might have on climate change as well as on the future development of the oils sands resource in Canada.
Live by Energy…. Energy is the foundation of Russia, its economy, its government, and its political system. Death by Energy. In the last few years, the threats to Russia’s energy industry have multiplied and intensified. Natural gas data from Gazprom).
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