Energy

EIA expects nine new Gulf of Mexico natural gas and crude oil fields to start in 2022

AJOT | June 21, 2022 | Energy

In our June 2022 Short-Term Energy Outlook (STEO), we forecast that new fields coming online in 2022 will account for 5% of natural gas production and 14% of crude oil production in the U.S. Federal Offshore Gulf of Mexico (GOM) by the end of 2023. We expect that GOM natural gas production will average 2.1 billion cubic feet per day (Bcf/d) in 2023, down 0.1 Bcf/d from 2022. We expect that GOM crude oil production will average 1.8 million barrels per day (MMb/d) in 2023, about the same as in 2022. Currently, no GOM fields are scheduled to start up in 2023.

EU balks at US push to use insurance to cap Russian oil prices

Bloomberg | June 21, 2022 | Energy | International Trade

Ghana fuel shortage looms as central bank rations dollars

Bloomberg | June 21, 2022 | Energy

Europe still imports huge volumes of Russian diesel as war rages

Bloomberg | June 21, 2022 | Energy

Solar developers pledge $6 billion to boost US manufacturing

Bloomberg | June 21, 2022 | Energy | Alternative

Asia boosts exports of blendstocks to US amid gasoline squeeze

Bloomberg | June 20, 2022 | Energy

Billionaire Razon’s green infra firm is said to weigh Manila IPO

Bloomberg | June 20, 2022 | Energy | Alternative

Volvo Trucks showcases new zero-emissions truck

Imagine a truck that only emits water vapor, produces its own electricity onboard and has a range of up to 1 000 km. It’s possible with fuel cells powered by hydrogen, and Volvo Trucks has started to test vehicles using this new technology.

Asia imports more seaborne Russian oil than Europe, with India taking the lion’s share of Urals

AJOT | June 20, 2022 | Energy

Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels, while for China the increase is 205% and for Asia as a whole 347%, Rystad Energy research shows.

Neptune Energy, ExxonMobil, Rosewood and EBN to cooperate on L10 carbon capture and storage

AJOT | June 20, 2022 | Energy

China scolds Sinopec after second fatal accident this month

Bloomberg | June 20, 2022 | Energy

Iran says legal work underway for release of seized Greek ships

Bloomberg | June 20, 2022 | Maritime | Bulk | Energy

Qantas, Airbus to make $200 million sustainable fuels investment

Volvo Energy invests in Connected Energy for second life battery business

AJOT | June 17, 2022 | Energy | Alternative

Volvo Energy invests in the UK-based, second-life battery energy storage specialist Connected Energy in order to further accelerate Volvo Group’s battery business and sustainability opportunities.

Diesel shock: inflationary spiral imminent as reserves drop to historic lows and refining lags

AJOT | June 17, 2022 | Energy

Global diesel and gasoline markets are witnessing blowout crack spreads in the US$50-60 per barrel (bbl) range, reflecting a clear lag in the refining system to respond effectively and decide between supplying diesel or gasoline.

EIA forecasts growing liquid fuels production in Brazil, Canada and China through 2023

AJOT | June 17, 2022 | Energy

In our June 2022 Short-Term Energy Outlook (STEO), we forecast that liquid fuels production in Brazil, Canada, and China will increase this year and next, contributing to growth in overall non-OPEC petroleum production. We forecast that petroleum production in the combined non-OPEC countries, excluding the Unites States and Russia, will increase by 3% (0.9 million barrels per day [b/d]) in 2022 and by 2% (0.8 million b/d) in 2023, compared with an increase of less than 1% (0.2 million b/d) in 2021.