Remove Chinese Remove Iran Remove Oil
article thumbnail

IEA trims expected growth in oil demand for 2012/2013 by 300K–400K barrels per day

Green Car Congress

The International Energy Agency’s August Oil Market Report (OMR) trims 2012/2013 oil demand expectations by 300-400 thousand barrels per day (kb/d), although annual growth remains in an 800-900 kb/d range both years. Highlights of the August OMR include: Sluggish economic growth could restrict annual oil demand growth to 0.9

2013 236
article thumbnail

EIA: China is now the world’s largest net importer of petroleum and other liquid fuels

Green Car Congress

In September 2013, China’s net imports of petroleum and other liquids exceeded those of the United States on a monthly basis, making it the largest net importer of crude oil and other liquids in the world, according to figures from the US Energy Information Administration (EIA). million barrels per day, primarily from tight oil plays.

article thumbnail

Opinion: China To Continue Expanding Its Influence In The Oil And Gas Sector

Green Car Congress

Since 2009, China has been taking a much more active role in its pursuit of international oil contracts. In 2009, for the first time, Saudi Arabia exported more of its oil to China than it did to the U.S. China also made large investments in Saudi Arabia’s oil refining industry as well.

Oil 150
article thumbnail

Opinion: The End Of An Era: Is The US Petrodollar Under Threat?

Green Car Congress

Recent trade deals and high-level cooperation between Russia and China have set off alarm bells in the West as policymakers and oil and gas executives watch the balance of power in global energy markets shift to the East. The US dollar then went through a massive devaluation, and oil played a crucial role in propping it back up.

Russia 225
article thumbnail

Saudis Expand Price War Downstream

Green Car Congress

The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. As if being the world’s biggest exporter of oil was not enough, the desert kingdom is now looking to conquer the refining sector as it has quickly become the fourth largest refiner in the world. By offering almost 2.8

article thumbnail

ACS Meeting Symposium Focuses on Conversion and Utilization of CO2 for Fuels and Chemicals

Green Car Congress

CO 2 conversion to hydrocarbons over catalysts has been known for several decades but has been shown very little research and development attention, as other technologies have been much cheaper and efficient in yielding cheap oil. Earlier post.). They obtained CO 2 conversions of up to 45% are obtained for a residence time of ~ 1 s.

article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Putin has highlighted on various occasions the contribution Russia’s mineral wealth, in particular oil and natural gas, must make for Russia to be able to sustain economic growth, promote industrial development, catch up with the developed economies, and modernize Russia’s military and military industry. percent of GDP in 2014.

Russia 150