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Avass Group to manufacture EVs, lithium batteries in Saudi Arabia

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Australia-based Avass Group recently signed an agreement with Saudi Arabia to jointly manufacture electric vehicles and lithium batteries. The agreement bolsters Avass Group’s plans to mass manufacture full electric buses and lithium batteries in Saudi. Allen Saylav, Group Chief Executive Officer at Avass.

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Baker Institute team says fossil fuel subsidies need global reform

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Their paper tracks fossil fuel usage and government subsidies since the the 2009 G20 summit, during which representatives from 20 countries discussed global financial and socioeconomic issues and agreed to “phase out and rationalize over the medium term inefficient fossil fuel subsidies.”. Costs ranged from a low of 0.3%

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Benchmark: Saudi Arabia is building an EV battery supply chain

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Saudi Arabia has cut a number of deals recently that coud make the country’s lithiu-ion supply chain the most developed in the Middle East, according to an analysis by Benchmark Mineral Intelligence. The Saudi processing plant will process spodumene from a mine that European Lithium is developing in Wolfsberg, Austria.

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Opinion: Saudi Arabia Continues To Turn Screws On US Shale

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Saudi Arabia continues to ratchet up production, taking market share away from US shale producers. According to OPEC's latest monthly oil report , Saudi Arabia boosted its oil output to 10.31 In other words, as Saudi Arabia ramps up, US shale is being forced to cut back. by James Stafford of Oilprice.com.

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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

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Global geothermal industry passes 12,000 MW operational

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The global geothermal industry surpassed 12,000 MW of geothermal power operational, with about 600 MW of new geothermal power coming online globally, according to a year-end update by the Geothermal Energy Association (GEA). Vincent and the Grenadines, Taiwan, Thailand, Uganda, the United States, and Yemen.

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WRI: global oil consumption hits all-time high

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between 2008 and 2009 due to the global financial crisis, global oil consumption recovered by 3.1% OPEC and non-OPEC countries (excluding the former Soviet Union) each accounted for almost 42% of global oil production in 2010, with the former Soviet Union responsible for 16.8%, up from 10.7% After falling 1.5%

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