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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

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In contrast to 2022 when the OECD led the expansion, non-OECD economies are set to account for nearly 80% of growth next year. Assuming Libya rebounds from a steep drop, the bloc’s production could increase 2.6 Global refining capacity is set to expand by 1 mb/d in 2022 and 1.6 mb/d in 2022 to 2.2 mb/d in 2022 and 1.8

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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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Global energy consumption grew by 2.5% Emerging economies accounted for all of the net growth, with OECD demand falling for the third time in the last four years, led by a sharp decline in Japan. globally, and 8.4% in the emerging economies. of global energy use, losing share for 12 consecutive years. Source: BP.

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Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

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Global emissions of CO 2 increased by 3% last year, according to the annual report “Trends in global CO 2 emissions”, released by the EC Joint Research Centre (JRC) and the Netherlands Environmental Assessment Agency (PBL). At 3%, the 2011 increase in global CO 2 emissions is above the past decade’s average annual increase of 2.7%.

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US DOE, IEA member countries releasing a total of 60 million barrels of oil from reserves

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The IEA estimates that the unrest in Libya had removed 132 million barrels of light, sweet crude oil from the market by the end of May. The IEA collective action is intended to complement expected increases in output by these producing countries, to help bridge the gap until sufficient additional oil from them reaches global markets.

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Opinion: How Much Longer Can OPEC Hold Out?

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With the huge reduction in its revenues and growing discomfort among its members such as Venezuela, Libya and Nigeria over its current production levels, is OPEC really getting weaker? Nigeria is Africa''s largest oil producer and among the top 5 global exporters of LNG. Iran Nuclear Deal: A warning sign for OPEC? Nigeria’s dilemma.

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RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

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While the Department of Defense (DoD) is one of the world’s largest fuel users, its consumption of about 340,000 bpd is a small fraction (less than one-half of 1 percent) of global petroleum demand. In the lead report, Bartis notes that global oil supplies are finite and thus, at some point, oil production must peak.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Energy is the foundation of Russia, its economy, its government, and its political system. They pose an existential threat to the industry and therefore to the Russian economy: The revenues Russia can earn from its crude and natural gas exports face intense pressure. The emergence of the U.S., This has transformed the U.S.

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