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EIA estimates decrease in global surplus crude oil production capacity in 2022

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As of May 2022, surplus crude oil production capacity in non-OPEC countries decreased by 80% compared with 2021, according to the US Energy Information Administration’s (EIA) new report Global Surplus Crude Oil Production Capacity. In 2021, 1.4

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IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 Global demand is now seen advancing by 1.2 Global oil supplies increased by 310 kb/d in November to 92.3 Global refinery crude runs plunged to 73.6

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Eni report: global oil reserves and oil production up in 2018 due to US

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In 2018, global oil reserves rose slightly (+0.4%), mainly due to growth in the US. OPEC registered zero growth as production in the Arab Gulf countries were offset by losses in Iran and Venezuela due to geopolitical issues. WTI, the US light crude, covers 60% of global growth. also rose in Brazil and Norway.

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2016 Ford Explorer SUV replaces 2.0L EcoBoost with new 2.3L EcoBoost unit; more power and torque, same fuel economy expected

Green Car Congress

The new 2016 Ford Explorer SUV is making its global debut today at Los Angeles Auto Show with a new available 2.3-liter Ford Explorer is built in North America at Chicago Assembly Plant, as well as in Venezuela and now, Russia. liter EcoBoost four-cylinder engine that delivers more horsepower and torque than the 2.0L

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GM Creates New South America Regional Organization

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GM South America includes GM’s existing sales and manufacturing operations in Brazil, Argentina, Colombia, Ecuador and Venezuela as well as sales activities in those countries and Bolivia, Chile, Paraguay, Peru and Uruguay. The GM International Operations team is doing a great job expanding our global presence.

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Rosneft and PDVSA sign tentative MoU for JV to develop heavy crude reserves in Venezuela’s Orinoco belt

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Rosneft, the leader of Russia’s petroleum industry and majority owned (75.6%) by the state, and PDVSA, Venezuela’s state-owned oil and gas company, have signed a tentative memorandum of understanding (MoU) to set up a joint venture to develop heavy crude oil reserves in Venezuela as part of the Carabobo-2 project.

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IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

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Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. With global demand expected to grow by 1.2

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