Global oil refining capacity is set to increase at its fastest pace on record this year, possibly boosting stocks of products such as diesel, gasoline and marine fuel, the International Energy Agency said on Friday.
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Global oil and gas development spend needs to increase by around 20 percent, to about $600 billion, to meet future demand growth and ensure companies sustain production next decade.
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In the period to 2040, the required global oil sector investment is estimated at $11 trillion.
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(Reuters) – OPEC on Wednesday further trimmed its forecast for 2019 global oil demand growth and said the risk to the economic outlook was skewed to the downside, adding a new challenge to the group’s efforts to support the market next year.
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Gas will overtake oil demand in 2026 to become the dominant energy source, according to a new report from global quality assurance and risk management company, DNV GL.
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Rystad Energy announced Friday that it expects the global oilfield service sector to be back at pre-downturn market levels by 2024.
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Global upstream project delivery is “finally hitting the mark,” with a growing list of recent projects delivered on target, according to Wood Mackenzie (WoodMac).
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Chinese exports of natural graphite have continued to rise, reaching an estimated 180kt in the first six months of 2018, a 9% increase on the same period the previous year.
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Global oil demand grew by 1.7 percent in 2017, according to a new report released by Eni.
Read MoreThe renewable energy industry created more than 500 000 jobs globally last year – a 5.3% year-on-year increase, says the International Renewable Energy Agency (Irena).
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