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Oil Market Report - May 2023
…However, weak margins mean the 2H23 runs forecast has been downgraded, most notably for Europe and the US. New capacity and ample availability of discounted Russian crude in Asia skews activity away from the Atlantic Basin.Russian exports of crude and refined oil products edged up in April to a post-invasion high of 8.3 mb/d. Shipments of crude oil increased by 250 kb/d, offsetting a decline in product exports of 200 kb/d. Estimated oil export revenues increased by $1.7 billion to $15 billion on the back of higher crude oil exports and a narrower…
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Oil Market Report - June 2022
…for nearly 80% of growth next year.Non-OPEC+ is set to lead world supply growth through next year, adding 1.9 mb/d in 2022 and 1.8 mb/d in 2023. As for OPEC+, total oil output in 2023 may fall as embargoes and sanctions shut in Russian volumes and producers outside the Middle East suffer further declines. Assuming Libya rebounds from a steep drop, the bloc’s production could increase 2.6 mb/d this year, eroding its spare capacity cushion.Global refining capacity is set to expand by 1 mb/d in 2022 and 1.6…
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Oil Market Report - January 2023
…declines in Russia. The US ranks as the world’s leading source of supply growth and, along with Canada, Brazil and Guyana, hits an annual production record for a second straight year.Global refinery activity was steady in December as US runs plunged 910 kb/d due to weather-related outages, but higher runs in Europe and Asia offset the fall. After an increase of 2.1 mb/d in 2022, refinery throughputs are set to grow by 1.5 mb/d in 2023, helped by 2.2 mb/d of capacity additions between 4Q22 and end-2023.Russian oil…
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Oil Market Report - December 2018
…d, as the impact of lower prices is offset by lower economic growth assumptions, weakening currencies and downward revisions to certain countries e.g. Venezuela.Global oil supply fell 360 kb/d month-on-month (m-o-m) in November to 101.1 mb/d due lower output in the North Sea, Canada and Russia. Cuts from January reduce non-OPEC production growth for 2019 by 415 kb/d, to 1.5 mb/d, compared with 2.4 mb/d in 2018.OPEC crude oil output rose 100 kb/d m-o-m to 33.03 mb/d in November as Saudi Arabia and the UAE reached record highs, more…
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Oil Market Report - May 2017
…before the OPEC output deal. They rose on 15 May after Russia and Saudi Arabia indicated support for an extension of the production cuts. Sour grades continued to trade higher than sweet crudes.In 2Q17, global refining activity slows down seasonally, lower by 370 kb/d from 1Q17, but is set to ramp up by 2.4 mb/d by July-August. The OECD leads the way: in non-OECD areas, maintenance and refinery closures in the Middle East, underperformance in Latin America and flat growth in India are not offset by growth in China and Russia. Highlights Weakness in a number of…
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Oil Market Report - February 2018
…in January, to 58.6 mb/d, but was 1.3 mb/d higher than a year ago. US crude output, up 1.3 mb/d year-on-year (y-o-y), will soon overtake Saudi Arabia and could catch Russia by the end of the year. Compliance with output cuts by non-OPEC countries was 85%.Global oil demand growth for 2018 has been increased slightly to 1.4 mb/d, partly due to an optimistic GDP forecast from the IMF. This is down from last year’s gain of 1.6 mb/d, as higher oil prices, shifting…
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Railway Handbook 2016
…and emissions data associated with the railway sector. Part I of this year’s Handbook is dedicated to presenting the most significant data and trends concerning energy consumption and CO2 emissions from the rail sector, focusing on the most important Regions in terms of rail activity, namely EU 28, USA, Japan, Russia, India and China. In the context of the historic outcome of the 21st Conference of Parties in December last year, it was decided to dedicate Part II of the Railway Handbook 2016 to sustainability targets, framing an overview of the targets set by railway companies and countries alike.
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Railway Handbook 2015
…the Railway Handbook 2015. For this edition, significant methodological improvements were implemented leading to better consistency between the different indicators presented in this Handbook, in addition to updates of the global data, as well as regional breakdowns for those regions that we consider the most relevant from the point of view of transport activity: European Union, USA, Japan, Russia, India, and China. This edition devotes particular attention to the energy efficiency of rail vehicles. This is achieved by providing information on the energy efficiency of trains in different world regions, with a richer set of indicators for the European Union.
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Hungary 2022
…reactors up to mid-2030s. The government has an ambitious target of 90% clean electricity by 2030, Hungary needs to maintain and increase its low carbon generation. Alongside nuclear energy, a diverse renewable energy portfolio and greater power system flexibility for the integration of high shares of solar PV are critical.The country needs to reduce the high vulnerability and reliance on Russia for gas, oil and nuclear, through policies that lower fossil fuel consumption, increase energy efficiency and promote investments in clean energy technologies and human resources to deliver a just and inclusive transition. To decarbonise hard-to-abate…
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China's Worldwide Quest for Energy Security
…can, China seeks to open new connections in global markets. Increasingly, external energy policies are entwined in foreign economic and security policies in general. This book documents how China is creating energy relationships across the Middle East, Southeast Asia, Russia, Central Asia and Africa. The Chinese are also intensively studying how the rest of the world operates in the energy sector. The position of this vast nation in the global energy markets can only grow stronger as time passes. Trade and investment are the main elements in China’s energy policy toward the rest of the world today. Before long…