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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

Green Car Congress

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 Renewed disruptions in Libya and smaller drops in Nigeria, Kuwait, the United Arab Emirates and Venezuela more than offset higher output in Iran, Iraq and Angola.

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

Green Car Congress

CNOOC Limited will implement and enhance Nexen’s current planned capital expenditure program, thereby investing significant capital in Canada and in Nexen’s other international assets. Nexen’s other international activities will be maintained as planned. CNOOC Limited intends to retain Nexen’s current management team and employees.

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TUM, partners to present electric aCar prototype at IAA; transport for sub-Saharan Africa

Green Car Congress

Researchers at the Technical University of Munich (TUM) and partners will present their new prototype of an electric four-wheel drive utility vehicle designed for Africa—the aCar — at the International Motor Show (IAA) in Frankfurt next month. Four-wheel drive is a must for the roads of Africa, the majority of which are not paved.

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The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

Green Car Congress

Maintenance of the field is expected, resulting in a shut-down of production—something that has been confirmed by Sadad Al Husseini, former VP Aramco. If Saudi Aramco or QP are already experiencing production threats, the situation in other production regions, such as Nigeria, Libya or Mexico, could be even more dire.

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This Lockheed Martin Researcher’s Work on UAVs Saves Lives

Cars That Think

Compared with other aircraft, the spinning drone is simpler to produce, requires less maintenance, and is less complex to control because its only control surface is the trailing-edge flap. As part of the job, in Oghara, Nigeria, then a small fishing village along the Niger River, he collected fares and directed passengers on and off the bus.

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