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In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. Background.
The InternationalEnergy Agency’s Monthly Oil Statistics shows that there are differences in refinery output throughout the world. Source: InternationalEnergy Agency, Monthly Oil Statistics, February 2020, Paris, France.,
Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51
Solid-oxide fuel-cell manufacturer Bloom Energy and Samsung Heavy Industries (SHI), a part of Samsung Group, have signed a joint development agreement (JDA) to design and to develop fuel cell-powered ships. This joint development work aligns with the International Maritime Organization’s mandate to meet emissions reduction targets by 2050.
In the face of the emerging global energy crisis triggered by Russia’s invasion of Ukraine and the countervailing barrage of economic sanctions, the InternationalEnergy Agency (IEA) is proposing a 10-Point Plan to Cut Oil Use. IEA claims that its plan would lower oil demand by 2.7
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. The gradual decline foresees a decrease in crude oil production by around 30% and natural gas production by around 15% by 2030. Exploration & Production.
In 2021, the United States returned to importing more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it exports following its historic shift to being a net exporter of petroleum in 2020, according to the US Energy Information Administration (EIA). million b/d. million b/d in 2023. million b/d.
Jun Qu, has developed a new group of ionic liquids as lubricant additives that could help improve the energy efficiency of cars and trucks. The prototype oil also successfully passed a 100-hour high-temperature, high-load engine dynamometer test. 1%) in nonpolar hydrocarbon oils.
Thirty-seven globally prominent scientists representing the International Journal of Engine Research have published an open-access editorial addressing the future of the Internal Combustion Engine, and stressing the importance for continued development of more efficient and even lower-emitting technologies. —Reitz et al.
New research led by Mohammad Masnadi, assistant professor of chemical and petroleum engineering at the University of Pittsburgh Swanson School of Engineering, offers a closer look at the relationship between decreasing demand for oil and a resilient, varied oil market—and the carbon footprint associated with both.
Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the InternationalEnergy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9
Global energy demand spiked in 2024, driven largely by surging electricity use, according to a new report released today by the InternationalEnergy Agency (IEA). Electricity consumption jumped by nearly 1,100 terawatt-hours a hefty 4.3% increase nearly twice the annual average growth of the past decade.
European Energy , a Danish developer and operator of green energy projects, has ordered a 50 MW electrolyzer from Siemens Energy for use in developing the first large-scale commercial e-Methanol production facility. —Knud Erik Andersen, CEO of European Energy.
The Department of Energy’s (DOE’s) Office of Fossil Energy announced up to $88 million in federal funding for cost-shared research and development projects enhancing technologies for oil and natural gas recovery under two separate funding opportunity announcements (FOAs). billion barrels.
Strong continuing international demand for petroleum and other liquids will sustain US production above 2022 levels through 2050, according to most of the cases in the US Energy Information Administration’s (EIA’s) Annual Energy Outlook 2023 (AEO2023).
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.
Petrochemicals are rapidly becoming the largest driver of global oil demand. Petrochemicals are rapidly becoming the largest driver of global oil demand. They are also required to manufacture many parts of the modern energy system, including solar panels, wind turbines, batteries, thermal insulation and electric vehicles.
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 InternationalEnergy Forum (IEF) and IHS Markit. Investment slumped by 30% in 2020.
Topsoe and Steeper Energy , a developer of biomass conversion technologies, signed a global licensing agreement for a complete waste-to-fuel solution. —Bevan May, President, Steeper Energy Steeper’s Hydrofaction has been validated through various stages of continuous pilot and demonstration-scale plant operations over the past 10 years.
The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the InternationalEnergy Agency said in a new report. —Dr Fatih Birol, the IEA’s Executive Director.
Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider. Source: IHS Markit 2018. —Spencer Welch.
As part of a strategy to continue providing low-emissions solutions for harsh offshore operating environments, Siemens has opened a fully robotized and digitalized plant in Norway that will develop and manufacture energy storage technologies for both marine and offshore oil and gas applications. Copyright: Neil Robertson.
The CMA CGM Group, a world leader in shipping and logistics, is joining forces with Energy Observer , the first hydrogen-powered vessel to embark on a round-the-world voyage. Energy Observer , formerly a racing catamaran, is now an experimental platform for tomorrow’s energy sources. Earlier post.).
MAN Energy Solutions has won the order to supply six MAN B&W 9S50ME-C9.6 These will use fuel-oil during navigation and lithium mega-batteries in harbor, thus guaranteeing zero emissions in port—and meeting the Registro Italiano Navale (RINA) Green Plus class notation—while still satisfying energy requirements at berth.
In an EU-funded research project, an international consortium is aiming to develop new production methods for sustainable marine fuels to replace heavy fuel oils in shipping. In addition, the International Maritime Organization (IMO) is seeking to ban HFO use in Arctic waters. The participants are Vertoro B.V. (NL);
The US Energy Information Administration (EIA) projects that, absent significant changes in policy or technology, world energy consumption will grow by nearly 50% between 2020 and 2050. Liquid fuels remain the largest source of energy consumption, driven largely by the industrial and transportation sectors.
Fossil fuels still receive most of the international government support provided to the energy sector despite their “well-known environmental and public health damage,” according to new research from Rice University’s Baker Institute for Public Policy. 5 consumer of oil,” Krane said. Costs ranged from a low of 0.3%
The Covid-19 crisis in 2020 triggered the largest annual drop in global energy-related carbon dioxide emissions since the Second World War, according to IEA data, but the overall decline of about 6% masks wide variations depending on the region and the time of year. Many economies are now seeing emissions climbing above pre-crisis levels.
Yesterday, the same day that Juan Diego Celemín Mojica discussed at length for CleanTechnica the matter of global peak oil demand and how the InternationalEnergy Agency and OPEC+ are noticing versus ignoring EV sales growth in China and declining oil demand, the US Energy Information Administration put out an.
To reduce the number of accidents in the global oil and gas industry caused by damaged pipelines, University of Houston researchers are developing an autonomous robot to identify potential pipeline leaks and structural failures during subsea inspections. When larger spills happen, pipelines are often the culprit.
Crude palm oil is one of the more than ten renewable raw materials that Neste uses to produce a range of renewable products, including renewable diesel. Palm oil represents approximately 20% of Neste’s renewable raw material usage annually. The field work was conducted by Meo Carbon Solutions. Schematic of a belt filter press.
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 InternationalEnergy Agency’s (IEA) June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0
Organizers wanted to showcase how their small nation of nearly 11 million, on the western shore of the Caspian Sea , had evolved over its three decades of independence and was ready to play a role in the world s energy transition. But if they succeed, it will mark a bold feat of engineering to boost clean energy and fight climate.
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 InternationalEnergy Outlook 2014 ( IEO2014 ), released by the US Energy Information Administration (EIA). oil shale), and refinery gain.
Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the InternationalEnergy Agency’s latest annual report on oil markets.
and Charlatte America, a member of the Fayat Group, the leading manufacturer of battery powered electric airport ground support equipment (GSE) throughout Europe and the United States, have delivered fuel cell-powered electric cargo tuggers for use by FedEx at the Albany International Airport. Plug Power Inc. F (-23.33 ?C).
The ability to produce aviation-grade fuel from oil derived from wood waste—which up until now has been difficult due to the high viscosity of the oil—could help international aviation companies comply with new emissions regulations scheduled to go into effect in 2027. cP was achieved after 240 min. 2020.112728.
Researchers at Argonne National Laboratory, with colleagues from Lawrence Berkeley, Oak Ridge, and National Renewable Energy labs, and the University of Tennessee, have published a comprehensive analysis of the total cost of ownership (TCO) for 12 sizes of vehicles ranging from compact sedans up to Class 8 tractors with sleeper cabs.
ASTM International has approved and published a sixth pathway for the production of sustainable aviation fuel (SAF). In the CHJ process (also called hydrothermal liquefaction), clean free fatty acid (FFA) oil from the processing of waste oils or energyoils is combined with preheated feed water and then passed to the CH reactor.
For the first time, Lawrence Livermore National Laboratory (LLNL) has published state-by-state energy and water Sankey diagrams in one location so that analysts and policymakers can find all the information they need in one place. General location of energy and water categories. Energy and water generally “flows” from left to right.
A strong SUV market is leading to higher oil demand today, and may make future carbon dioxide (CO2) emissions targets harder to achieve, according to the InternationalEnergy Agency (IEA). New IEA analysis found that global CO2 emissions from SUVs reached nearly 1.1 SUVs are.
billion to be split equally between the joint venture partners and funded from internal cash flows provided by DGD. —Joe Gorder, Valero Chairman and Chief Executive Officer, To produce renewable diesel, Diamond Green Diesel first pretreats used cooking oil and inedible animal fats to remove impurities.
Toyota introduced the next-generation three-row 2020 Highlander SUV at the New York International Auto Show. A variable cooling system (electric water pump, electric thermostat) and a fully variable oil pump further improve engine efficiency. The system delivers a combined 240 horsepower and an EPA-estimated 34 combined MPG.
This includes investment in a New Energy Plant, which is due for completion in late 2023 and will supply energy to all site operations. Additional contributions to driving down emissions will come from further investments in energy reduction and optimization, along with electrification of key equipment.
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