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Electric vehicles reducing oil consumption

1 day ago DieselGasoil Comments Off on Electric vehicles reducing oil consumption
By Dan Murtaugh on 3/19/2019 SINGAPORE (Bloomberg) — Electric vehicles are taking ever-bigger bites out of global oil demand, but they haven’t yet caught up with the growing size of the pie. Gasoline and diesel (gasoil) displacement by electric vehicles will grow by 96,000 bpd this year, BloombergNEF said in a report Tuesday. That brings Read More

Global stocks rise, dollar slips as traders price in accommodative Fed stance

2 days ago DieselGasoil Comments Off on Global stocks rise, dollar slips as traders price in accommodative Fed stance
LONDON (Reuters) – Global shares hit their highest levels in five months and the dollar dipped on Monday, as traders began to price in the likelihood of the U.S. Federal Reserve sticking to an accommodative stance at its policy meeting this week. FILE PHOTO: The London Stock Exchange Group offices are seen in the City Read More

Oil pulled two ways by economic slowdown, OPEC-led supply cuts

2 days ago DieselGasoil Comments Off on Oil pulled two ways by economic slowdown, OPEC-led supply cuts
SINGAPORE (Reuters) – Oil prices were mixed on Monday, weighed by concerns that an economic downturn may dent fuel consumption, but supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, Read More

Oil dips on weak economic outlook, but OPEC-led cuts still support

3 days ago DieselGasoil Comments Off on Oil dips on weak economic outlook, but OPEC-led cuts still support
SINGAPORE (Reuters) – Oil prices dipped early on Monday, weighed down by concerns that a global economic downturn may dent fuel consumption. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Korol/File Photo/File Photo However, crude markets remain broadly supported by supply cuts led Read More

Opsealog deploys MarineLog in ten Total affiliates

3 days ago DieselGasoil Comments Off on Opsealog deploys MarineLog in ten Total affiliates
3/17/2019 PARIS — Ten affiliates of Total Exploration & Production in Western Africa, North Sea, South America, Asia and the Middle East have deployed MarineLog to optimize their offshore logistics operations by reducing their costs and increasing their productivity. The service cost is more than covered by the savings generated. Two other Oil Majors are Read More

U.S. Gulf Coast refinery demand for hydrogen increasingly met by merchant suppliers

5 days ago DieselGasoil Comments Off on U.S. Gulf Coast refinery demand for hydrogen increasingly met by merchant suppliers
March 15, 2019 Petroleum refineries in the U.S. Gulf Coast increasingly rely on merchant suppliers, rather than their own production, to provide the hydrogen used to reduce the sulfur content of fuel. As global demand for distillate fuel oil has increased and sulfur content regulations have become more stringent, refineries have needed to use more Read More

CERAWeek 2019: LNG key factor in energy transition

6 days ago DieselGasoil Comments Off on CERAWeek 2019: LNG key factor in energy transition
By CRAIG FLEMING, TECHNICAL EDITOR, WORLD OIL on 3/14/2019 HOUSTON — On the third day (Wednesday, March 13) of CERAWeek by IHS Markit, the industry’s business leaders outlined global economic trends, shifting geopolitics, emerging government policies and advances in technologies. The majority of the day’s sessions outlined how the transition will occur and to define Read More

On Japan Sea coast, small firm shows scars of China's economic woes

6 days ago DieselGasoil Comments Off on On Japan Sea coast, small firm shows scars of China's economic woes
JOETSU, Japan (Reuters) – In snow country along Japan’s northern coast, a small manufacturer of precision moulds is feeling the pain of China’s economic slowdown. Workers are seen at the factory of Nagumo Seisakusho Co., Ltd. in Jyoetsu, Niigata prefecture, Japan February 22, 2019. REUTERS/Tetsushi Kajimoto Orders have slowed to a trickle at Nagumo Seisakusho Read More

Residents, environmentalists to fight Croatia's LNG terminal

1 week ago DieselGasoil Comments Off on Residents, environmentalists to fight Croatia's LNG terminal
ZAGREB (Reuters) – Residents and municipal authorities on the Croatian island of Krk, a major tourist destination, have vowed to fight the construction of a floating liquefied natural gas (LNG) terminal due to begin in a few weeks. The government decided in January to co-finance the terminal at the town of Omisalj with 100 million Read More