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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6

Global 448
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UTM Offshore signs FEED agreement for Nigeria’s first floating liquefied natural gas (FLNG) facility

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million metric ton per annum and a storage capacity of 200,000 cubic meters, as well as ancillary facilities to be located 60km from the shore of Akwa Ibom State, Nigeria. The FLNG facility will have a Liquified Natural Gas (LNG) nameplate production capacity of 1.2 —NJ Ayuk, the Executive Chairman of the AEC.

Nigeria 186
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GE study finds 5% of worlds natural gas production wasted per year by flaring

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A newly released GE study — Flare Gas Reduction: Recent Global Trends and Policy Considerations —estimates that 5% of the world’s natural gas production is wasted by burning or “flaring” unused gas each year, despite some progress on the flaring issue. It will help slow global warming while also saving scarce natural resources.

Waste 260
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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

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Nexen will complement CNOOC’s large offshore production footprint in China and extend CNOOC’s global presence with a focused on conventional oil and gas, oil sands and shale gas. The transaction will be funded by CNOOC Limited’s existing cash resources and external financing.

Oil-Sands 325
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IISD Releases Five-Part Series of Reports on Removing Fossil Fuel Subsidies

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The International Institute for Sustainable Development’s Geneva-based Global Subsidies Initiative ( GSI ) has issued a five-part series of reports into how nations might remove fossil-fuel subsidies, on the eve of a meeting of G20 finance ministers in Washington this week. Some data exist on most types of fossil fuel subsidies.

Fuel 207
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Made-in-India two-wheeler exports finally on the upswing | Autocar Professional

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This comes after a fairly long period of dampened economic conditions in some of the key global markets which saw rough macroeconomic conditions, country-specific local currency depreciation, availability of foreign exchange and also regulatory issues.

India 52
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Opinion: Is Russia Plotting To Bring Down OPEC?

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They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects. Novatek and its partners Total and Chinese National Petroleum Company still lack $15 billion of the $27 billion needed to finance the Yamal LNG plant. The emergence of the U.S., This has transformed the U.S.

Russia 150