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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
In the June Short-Term Energy Outlook (STEO), the US Energy Information Administration (EIA) forecasts that rising global production of petroleum and other liquid fuels (driven by OPEC, Russia, and the United States) will limit price increases for global crude oil benchmarks Brent and West Texas Intermediate (WTI).
As the world contends with a global energy crisis, nuclear power has the potential to play a significant role in helping countries to securely transition to energy systems dominated by renewables, according to a new special report by the IEA. However, a new era for nuclear power is by no means guaranteed.
The US Energy Information Administration (EIA) expects that low inventories of distillate fuels, which are primarily consumed as diesel fuel and heating oil, will lead to high prices through early 2023. EIA forecasts Russia will produce 9.3 —EIA Administrator Joe DeCarolis. EIA revised its forecast because U.S.
Russia's ongoing invasion of Ukraine has triggered international sanctions throttling the country's oil exports, leading to fears of every higher gas prices. But electric vehicle adoption has been helping make the situation less grim. Plug-in vehicles avoided roughly 1.5
According to GlobalData’s Mining Commodity Analyzer , Russia was the third-largest producer of nickel in 2021, producing more than 200,000 tons. As nickel is used in the production of EV batteries, any sanctions placed on Russian nickel will cause EV manufacturing prices to increase further, threatening adoption and decarbonization.
The Review captures the significant impact the global pandemic had on energy markets and how it may shape future global energy trends. Natural gas prices declined to multi-year lows; however, the share of gas in primary energy continued to rise, reaching a record high of 24.7%. The oil price (Dated Brent) averaged $41.84/bbl
billion cubic feet per day (Bcf/d) of liquefied natural gas (LNG) was traded globally during 2021, an increase of 2.2 New LNG export capacity, primarily in the US, and rising global demand for natural gas drove continued growth in global LNG trade last year. Global LNG export capacity has increased by 29%, or 14.0
The new technique—called Underground Gravity Energy Storage (UGES)—proposes an effective long-term energy storage solution while also making use of now-defunct mining sites, which likely number in the millions globally. An open-access paper on the work is published in the journal Energies. Dabek, P.B., Brandão, R., Patro, E.R.,
Products from the new plant in Russia will be supplied to the growing European and Asian markets for use within the automotive sector and renewable energy markets, said Georgy Kolpachev, Managing Director of Rusnano. Under the terms of the investment agreement, Kolpachev will join Nesscap’s board of directors.
signed a memorandum of understanding (MOU) with Russia’s Federal Grid Company (FGC) to help develop new opportunities to use high-performance battery systems to improve the reliability and performance of the Russian electricity system, which is facing record setting demand on an aging grid. Tags: Batteries Russia Smart Grid.
Global demand for fossil fuels will peak this decade due in part to Russia's invasion of Ukraine, which has accelerated many countries' move to renewable energy, according to the International Energy Agency (IEA).
The US price of ammonia, the primary source of nitrogen fertilizer, has risen by a factor of six in the past two years, and most of these increases have occurred since March 2021, according to the US Energy Information Administration (EIA). Although US natural gas prices also rose, they ended the 2021–22 heating season at close to $5.00/MMBtu,
On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 percent of global proved reserves. When will Russia run out of oil? by Viktor Katona for Oilprice.com.
November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. This decision set crude prices on a downward path. Subsequently, to defend market share, the Saudis increased production, which exacerbated market oversupply and further pressured prices.
After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the COVID-19 pandemic reduces energy consumption across the global economies. The report shows that medium-term growth will come from increasing cost-competitiveness and increased global access to gas. MMbtu in Russia, $8.7/MMbtu
The most notable new policies include the US “Inflation Reduction Act”, legislation providing more than $369 billion in funding for clean technologies, and the European Union’s REPowerEU plan, which sets ambitious targets to reduce reliance on gas from Russia. Meanwhile, projects face long lead times to finance, develop and commission.
In a new report ( Transportation Forecast: Global Fuel Consumption ), Navigant Research forecasts total road transportation energy consumption will grow from 81.1 of global consumption in 2014 to more than 16.4% of global road transportation sector consumption by 2035. —“Transportation Forecast: Global Fuel Consumption”.
The report suggests that a number of factors could hinder near-term growth prospects in several regions: Political tensions in Eastern Europe could affect supply and prices of gas exports from Russia to Western Europe.
The global energy map is changing significantly, according to the 2012 edition of the Internal Energy Agency’s (IEA) World Energy Outlook ( WEO-2012 ). The IEA said these changes will recast expectations about the role of different countries, regions and fuels in the global energy system over the coming decades.
Global OEM connected car system penetration is expected to increase from 11.4% While penetration in the US and Western Europe will exceed 80% by 2017, developing regions such as Latin America and Eastern Europe will also see strong increases in telematics penetration in new vehicles, largely driven by mandates in Brazil and Russia.
Global energy consumption grew by 2.5% globally, and 8.4% These shocks pushed energy prices higher in much of the world, with oil prices reaching a record annual average of more than $100 per barrel (bbl) for the first time. of global energy use, losing share for 12 consecutive years. Coal’s market share of 30.3%
Global CO 2 emissions from fossil-fuel combustion reached a record high of 31.6 The “450 Scenario” of the IEA’s World Energy Outlook 2011 , which sets out an energy pathway consistent with a 50% chance of limiting the increase in the average global temperature to 2 °C, requires CO 2 emissions to peak at 32.6 Gt on 2010, or 3.2%.
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%.
The global push to convert the world to electric vehicles will cause supply chain complexities that could undermine the alternative energy transition in the United States, according to a new report from Rice University’s Baker Institute for Public Policy. Global Nickel Trade and Chinese Dominance.
Oil markets have returned to relatively stable ground with Brent prices within a narrow $40-$45 per barrel range and could conclusively pass the $50 per barrel mark in the second half of 2021, according to Roger Diwan and the IHS Markit Energy Advisory Service. bbl in 2020 and $49.25/bbl bbl in 2021—up $7.09/bbl bbl and $5.25/bbl,
While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 Global refining capacity is set to expand by 1 mb/d in 2022 and 1.6 Following nearly two years of declines, observed global oil inventories increased by 77 mb in April.
The US Energy Information Administration (EIA) expects higher-than-average natural gas pricesglobally as demand remains high this winter in the United States, Europe, and Asia, and inventories remain low. That price will be the highest inflation-adjusted monthly average price since 2008.
The trajectory of North American gas supply is set to change radically as a result of the fall in oil prices that has occurred due to COVID-19 and the breakdown in production cooperation between OPEC and Russia, according to IHS Markit. —Narmadha Navaneethan, director, North America upstream research, IHS Markit. Bcf/d of gas.
—“14 th Annual Global Automotive Executive Survey”. It seems that a lack of infrastructure, high purchase prices and limited driving range are deterring consumers from embracing e-vehicles on a large scale. —“14 th Annual Global Automotive Executive Survey”. Source: KPMG. Click to enlarge.
Liquid fuels production (OPEC crude and lease condensate, non-OPEC crude and lease condensate, and other) and consumption (by OECD and non-OECD regions) under three price cases in 2040. per year, as the mature economies react to sustained high fuel prices. Dashed red line shows 2010 consumption of 87 MMbbl/d. Source: EIA.
The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry. In 2018, global oil reserves rose slightly (+0.4%), mainly due to growth in the US. WTI, the US light crude, covers 60% of global growth.
Global energy-related carbon dioxide emissions were flat for a third straight year in 2016 even as the global economy grew, according to the International Energy Agency. Global emissions from the energy sector stood at 32.1 The data signal a continuing decoupling of emissions and economic activity.
Global CO 2 emissions from fuel use and cement production by region. In addition to high oil prices and the financial crisis, the increased use of new renewable energy sources, such as biofuels for road transport and wind energy for electricity generation, had a noticeable and mitigating impact on CO 2 emissions. Source: PBL.
Synthetic graphite electrode prices rose nine-fold through the first three quarters of 2017, increasing from US$1,748/t in January 2017 to a high of US$16,309/t in September, according to Roskill Information Services. Despite some fallback during the winter months, prices remained above US$15,600/t through February and March 2018.
Global demand is outpacing supply, so we can see a potential supply shocking coming. Without action on domestic primary, the US is at risk of a much larger reliance on the UAE, Russia, and China for critical infrastructures, military needs, and clean technologies.
In contrast, pickups globally have had a significantly smaller market share—approximately 3.7% Throughout the past decade, pickups in the United States saw higher sales figures than new vehicles from countries such as Russia (19.1 Estimated net starting price of $88,375.). market share in 2019. Source: JATO Dynamics.
IHS Automotive forecasts global automotive sales for 2015 to reach 88.6 The size of the market contraction in Russia is the biggest wild card facing vehicle manufacturers across the European continent, if not the world, in 2015 and 2016.” The campaign is expected to have a long-lasting effect on premium parts/vehicle prices in China.
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.
Russia-based Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, presented its eleventh review of the nickel and platinum group metals (PGM) markets based on the fundamental analysis of world economic and industry data. Platinum Group Metals (PGM). million ounces from 0.8
However, the report advises, long-term solutions to global challenges remain scarce; as one example, the report sees global CO 2 emissions rising by 20% to 37.2 The shift in global energy demand to Asia gathers speed, but India and countries in Southeast Asia will take the lead in driving consumption higher. Gt by 2035.
Demand is collapsing because of the closure of a large share of the global economy because of coronavirus disease 2019 (COVID-19). IHS Markit revised its global oil production outlook to reflect practical limits to crude oil storage capacity. Quite simply, global production has been on a pace to exceed available storage capacity.
The Great Shut-In, a rapid and brutal adjustment of global oil supply to a lower level of demand is underway. This collapse in demand combined with low oil prices, storage constraints and government ordered cuts are driving what is an extraordinary level of liquids production cuts and shut-ins around the world. Nearly everywhere.
recently announced a partnership with the goal to supply 5 million tonnes of green hydrogen a year by 2030—the equivalent of one third of the calorific energy of natural gas Germany imports from Russia.
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