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

Green Car Congress

For that reason, crude oil production that is offline in Iran, Libya, Venezuela, and now Russia, is excluded from surplus capacity estimates.

Oil 259
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bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

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Country wise, Russia (-1 million b/d), Libya (-920,000 b/d) and Saudi Arabia (-790,000 b/d). World oil production fell for the first time since 2009 by 6.6 million b/d in 2020 driven by both OPEC (-4.3 million b/d) and non-OPEC (-2.3 million b/d). Oil consumption also dropped for the first time since 2009 by a massive 9.1 million b/d.

2020 397
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The 5 Countries That Could Push Oil Prices Up

Green Car Congress

The ‘Fragile Five’ petrostates—Iran, Iraq, Libya, Nigeria and Venezuela—continue to see supply disruption potential, with northern Iraq crude exports at risk due to an escalation of tensions between the (Kurdistan Regional Government), Baghdad and Turkey, while the United States has decertified the 2015 Iran nuclear deal,” U.S.

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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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DOE received over 90 offers that resulted in 28 contracts with 15 companies for deliveries of 30,640,000 barrels. 1 March 2022 IEA Coordinated Release.

Oil 418
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Nissan to test African demand for its e-Power hybrid vehicle – ET Auto

Baua Electric

This year Nissan will export the South African built Navara pickup trucks to new markets of Algeria, Libya, Sudan, Tunisia and Egypt, Nissan Africa product Marketing Director Stefan Haasbroek said.

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GECF: more than a quarter of 2050 natural gas supply untapped

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The two-day Oil and Gas of Turkmenistan 2020 conference was organized by the Government of Turkmenistan and attracted the participation of regional and international energy companies, including CNPC, Dragon Oil, SOCAR, ENI, ARETI, Schlumberger, Hyundai, among others.

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

Green Car Congress

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. But the current production increases in Nigeria, Iraq and Libya, will most probably be temporary.

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