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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oilprices, 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. —Gabriel Collins.
China processed record amounts of crude oil in 2021 to meet rising domestic consumption of petroleum products, according to analysis by the US Energy Information Administration (EIA). Energy Information Administration, based on data from China General Administration of Customs, as compiled by Bloomberg, L.P. increase from 2020.
As oilprices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. With this kind of impending discrepancy between supply and demand, the industry needs to start looking for new sources of oil, and quickly. by Haley Zaremba for Oilprice.com.
The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude and stagnant economies in China and Europe, according to OPEC’s latest forecast. OPEC’s monthly report said demand for the cartel’s oil will fall to 28.9 Abhishek Deshpande, an oilmarket analyst at Natixis, agreed.
According to a new report from Pike Research, the various national-level initiatives and programs to promote the awareness of electric vehicles (EVs) in the Asia-Pacific region will help make the region the largest market worldwide for electrified vehicles, led by strong demand in China, Japan, and Korea. billion in 2015.
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. Ultimately, widespread commercialization will depend on whether these ventures can reach price.
Meanwhile, the European Central Bank is heading in the other direction in an effort to keep sovereign bond yields from spiraling out of control, particularly after the recent political turmoil in Italy unnerved bond markets on the continent. dollar is one important variable influencing oilprices. But the U.S.
The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oilpricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. by Tsvetana Paraskova for Oilprice.com.
According to a new report from Pike Research, the increased production and consumption of biofuels will more than double the industry’s market value in the next decade. Pike forecasts that the global market for biofuels will increase from $82.7 between 2017 and 2021, as a combination of higher oilprices, emerging mandate.
If these barriers can be overcome, advanced biofuels could significantly disrupt the status quo in fuel markets. Base case economics for EVs in North America are very challenging, absent significant disruption in oilprice or battery cost. Click to enlarge. By 2020, CSP could provide power at $0.10
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. million barrels daily, including from Russia, to reverse the free fall of oilprices. Saudi Arabia cannot afford another slump in oilprices,” he warns. “It
Separately, a new report by Pike Research forecasts that green chemistry represents a market opportunity that will grow from $2.8 billion pound, $3-billion worldwide market. Genomatica expects Bio-BDO to be competitive at oilprices of $45 per barrel or at natural gas prices of $3.50 billion in 2011 to $98.5
The world’s two largest economies—the United States and China—are poised to be the world’s top export and import markets for liquefied natural gas (LNG), respectively, in 2022, according to a new report by IHS Markit. Meanwhile, mainland China has already become the top global importer of LNG. MMt set in 2014.
China is about to become the largest oil-importing country and India becomes the largest importer of coal by the early 2020s. The Middle East becomes the world’s second-largest gas consumer by 2020 and third-largest oil consumer by 2030, redefining its role in global energy markets. Mobility and oil. Source: IEA.
From 2017 to 2018, PEV sales doubled in North America, and sales in Europe and China increased 39% and 77%, respectively, according to a new report from Navigant Research. Though PEV market growth has been considerable, challenges remain.
IHS Markit downgraded its expectations for Mainland China by 2.3 China is expected to show signs of bottoming out through the second half of 2020, but the scale of the economic slowdown will likely lead to some destroyed demand. A faltering global auto market will have a big hit on sales of EVs. year over year.
Shanghai Diesel Engine Company is owned by Shanghai Automotive Industrial Corporation (SAIC), one of the top three automotive corporations in China. The company’s ultima goal is series production of DME fuel systems for the global automotive market by 2011. Alternative Fuel Technologies, Inc.
With prices expected to increase in the long term, however, the world oilprice in real 2011 dollars reaches $106 per barrel in 2020 and $163 per barrel in 2040, according to IEO2013. million barrels per day, respectively, and CTL in China, at 0.7 million barrels per day.
Despite what appears to be a saturated oilmarket 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.
Proponents of the concept of peak oil supply argue that the world faces a situation—possibly very soon—in which its capacity to produce oil hits a ceiling, with demand subsequently having to adjust as supply begins to decline and alternatives to oil move into the market to fill the gap. Earlier post.).
Demand in China's NEV market has held steady amid high international oilprices, the CPCA said. The post China's Nov wholesale sales of passenger NEVs hit record 732,000, CPCA estimates show appeared first on CnEVPost. For more articles, please visit CnEVPost.
When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. What’s more, they might not be alone in this attempt to curb OPEC’s clout on the global oilmarket. The timing is right.
Saudi Arabia continues to ratchet up production, taking market share away from US shale producers. According to OPEC's latest monthly oil report , Saudi Arabia boosted its oil output to 10.31 That was enough for the de facto OPEC leader to claim its highest oil production level in more than three decades. million barrels.
Since late 2014, the production of crude oil has outpaced demand, triggering a sustained collapse in world oilprices, which have remained mostly below $50 per barrel. As a result, these low prices have put pressure on the market for natural gas vehicles (NGVs) and the corresponding refueling infrastructure.
World energy growth over the next twenty years is expected to be dominated by emerging economies such as China, India, Russia and Brazil while improvements in energy efficiency measures are set to accelerate, according to BP’s latest projection of energy trends, the BP Energy Outlook 2030. Click to enlarge.
Many oil companies had trimmed their budgets heading into 2015 to deal with lower oilprices. But the collapse of prices in July—owing to the Iran nuclear deal, an ongoing production surplus, and economic and financial concerns in Greece and China—have darkened the mood. told the WSJ. “
The index compares the development of e-mobility in seven leading car-manufacturing nations (Germany, France, Italy, US, Japan, China and South Korea) on the basis of three parameters: technology, manufacturing, and market. Forecasts for vehicle sales in China, the US and Japan have been corrected downward.
Improved supply and expectations of higher oilprices have kept the NEV market booming with strong order books, the CPCA said. The post China's wholesale sales of passenger NEVs total 564,000 units in July, CPCA data show appeared first on CnEVPost. For more articles, please visit CnEVPost.
In addition to technological advances, price developments play a key role in determining overall energy usage, Worldwatch notes. World crude oilprices more than tripled between 2004 and 2008—the fastest rise since the oil crisis of the late 1970s—contributing to the sharp decline in energy intensity during that period.
In the near-term (2011), lithium-ion batteries could grow to represent about 21% of the hybrid and EV advanced battery market, according to Dr. Menahem Anderman, President of Advanced Automotive Batteries and the organizer of last week’s Advanced Automotive Battery Conference 2009. If pushed too fast, it could backfire.
With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oilmarkets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.”
China is the global leader in methanol use and has recently expanded its methanol production capacity. The estimates developed in the study have now been incorporated into EIA’s historical data and forecasts of petroleum and other liquids consumption in China. Annual methanol consumption in China, 2000-16. Methanol in China.
In a new report, Electric Vehicle Market Forecasts , Navigant research projects that under its base scenario, global sales of light duty electrified vehicles (i.e., The growth of PEV market share will be aided in part by the number and variety of PEV offerings coming to the market over the next several years. million in 2024.
When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. What’s more, they might not be alone in this attempt to curb OPEC’s clout on the global oilmarket. The timing is right.
The molybdenum market enjoyed three years of growing demand between 2016 and 2018, but macroeconomic concerns and a slower steel market resulted in a 2.3% This slow growth in mine supply, combined with the drop in demand, was sufficient to flip the molybdenum market from a deficit in 2018 into a surplus in 2019. decline in 2019.
The brief concentrates on six topics: climate change policy, carbon capture and storage policy, oil security policy, energy-technology innovation policy, electricity market structure, and infrastructure policy. International engagement—especially with China—is also a need. Oil security policy. Carbon capture and storage.
The oilprice shocks of the 1970s led the Brazilian government to address the strain high prices were placing on its fragile economy. Brazil, the largest and most populous country in South America, was importing 80% of its oil and 40% of its foreign exchange was used to pay for that imported oil. by Brian J.
Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oilprices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices.
United States M&A activity for upstream oil and gas deals set records in 2011 for both deal values and deal counts, according to PLS, Inc., a provider of information, marketing and advisory services for the oil and gas industry. Values of US upstream M&A oil and gas M&A deals, 2006-2011. Click to enlarge.
Biofuels grow at a slower rate due to lower crude oilprices and. The decline reflects increased domestic production of both petroleum and natural gas, increased use of biofuels, and lower demand resulting from the adoption of new vehicle fuel efficiency standards and rising energy prices. Biomass and biofuels growth is slower.
Improved transport connectivity will help increase trade links between Kazakhstan and the markets in East Asia, the Caspian Sea region, and further to Europe. The decline of global oilprices since 2014 and lower external demand has encouraged the government to create a favorable environment for business-driven regional economic development.
World marketed energy consumption is projected to grow by 44% between 2006 and 2030, driven by strong long-term economic growth in the developing nations of the world, according to the reference case projection from the International Energy Outlook 2009 ( IEO2009 ) released today by the US Energy Information Administration (EIA).
This represents an aggressive jump compared to BNEF’s previous forecast of 35% EV new car market share by 2040. Consumers will find that upfront selling prices for EVs are comparable or lower than those for average ICE vehicles in almost all big markets by 2029. —Colin McKerracher, lead advanced transport analyst at BNEF.
Global energy demand grows by more than one-third over the period to 2035 in the New Policies Scenario (our central scenario), with China, India and the Middle East accounting for 60% of the increase. Links between regional gas markets will strengthen as liquefied natural gas trade becomes more flexible and contract terms evolve.
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