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Saudi Arabia warns: Fossil fuel investment declines, global oil production could plunge 30% by 2030
Time of Update: 2023-03-19
Saudi Arabia says global oil production could fall by 30 percent by 2030 due to reduced investment in fossil fuels.
Saudi Arabia says global oil production could fall by 30 percent by 2030 due to reduced investment in fossil fuels.
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Very different from OPEC forecasts! IEA: Omicron will affect the recovery of oil demand, reducing the daily demand for global oil next year
Time of Update: 2023-03-19
The International Energy Agency (IEA) said in its monthly report that global oil supply is rebounding from the current OPEC production increase and strategic reserve crude oil sales, to the record production of countries such as the United States, Canada and Brazil next year.
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The epidemic and hawkish Fed hit market sentiment, U.S. oil fell more than 2% this week
Time of Update: 2023-03-19
Recently, the number of confirmed cases of new coronary pneumonia has surged in many countries, and traders are more worried about the impact of the omicron variant on oil demand.
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The demand surge and the economic outlook are positive, but oil bulls still need to guard against two major risks
Time of Update: 2023-03-19
S. crude oil futures continued to rise, close to $72 / barrel, although the spread of the Omicron variant may curb global consumption, but the Fed's adjustment to monetary policy boosted the market's optimism about economic recovery, while record demand and crude oil inventories in the United States supported oil prices.
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The two agencies played down Omicron concerns, but the IEA said the oil market could be oversupplied from this month
Time of Update: 2023-03-19
”In its monthly report, OPEC kept its demand growth forecast unchanged for this year and next, saying that global oil demand will increase by 4.
”In its monthly report, OPEC kept its demand growth forecast unchanged for this year and next, saying that global oil demand will increase by 4.
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350 million tons! Sinopec shale oil exploration has made another strategic breakthrough!
Time of Update: 2023-03-19
In November 2020, the Qintong Sadong 1 well in the Qintong Sag in the Northern Jiangsu Basin achieved a breakthrough in continental shale oil and gas explorationSinopec has continued to increase its efforts in shale oil exploration and development, and has continuously made major breakthroughs.
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U.S. demand remained strong, and U.S. oil continued to move higher to hit its highest close in more than three weeks
Time of Update: 2023-03-19
Saudi Arabia's crude oil exports rose for the sixth straight month in October, reaching their highest level since April, the Joint Organization Data Initiative (JODI) said on Thursday.
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Heavy! PetroChina and Sinopec have made major breakthroughs in unconventional oil and gas exploration!
Time of Update: 2023-03-19
As of November, the maximum cumulative production of a single well in the Baima Block of Fuling Shale Gas Field exceeded 30 million cubic meters, which was at a high level among domestic atmospheric shale gas wells, which confirmed that the block has a good prospect of scale increase and efficient development.
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The IEA said the market returned to oversupply, and U.S. oil fell more than 1% to hover at the 70 mark
Time of Update: 2023-03-19
Oil prices weighed on oil prices as some countries tightened restrictions to curb the spread of the omicron variant, raising concerns about demand for crude oil, while the IEA said oil production would exceed demand this month and soar sharply next year.
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Where will international oil prices go after the multi-party game?
Time of Update: 2023-03-19
Under the background of the decline in international oil prices and pessimistic expectations of the epidemic, the industry also speculated that the December 2 meeting of oil exporting countries and their allies of oil producers (hereinafter referred to as "OPEC+") may cancel the original production increase plan.
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Crude oil bounces back rather than reverse
Time of Update: 2023-03-19
Second, in order to suppress the rise in oil prices, the United States began to launch the strategic crude oil inventory release plan, although there will be no major changes to the global crude oil supply and demand pattern, but in a short period of time will increase the supply of crude oil, thereby curbing oil prices.
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Low Pressure Aviation Coal Hydrogenation Technology (RHSS)
Time of Update: 2023-03-19
Processing various direct-distilled aviation coal fractions, so that it deeply removes thiols, reduces the acid number, improves color and odor, and the resulting products meet the jet fuel specifications.
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Major discoveries! Shale oil reserves in Taizhou City, Jiangsu Province, amounted to 350 million tons
Time of Update: 2023-03-19
According to the preliminary evaluation, Sinopec has implemented a favorable area of 420 square kilometers and 350 million tons of shale oil resources in the Qintong Sag area of the Northern Jiangsu Basin, which demonstrates the good prospects for exploration and development in the region and will open up a strategic succession position for crude oil resources in China's Northern Jiangsu Basin.
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The volatile oil market may trigger the consolidation of resources in the Permian Basin
Time of Update: 2023-03-19
According to industry executives, the recent increase in price volatility will prompt more companies to consolidate, especially in the Permian Basin, the star of shale gas.
According to industry executives, the recent increase in price volatility will prompt more companies to consolidate, especially in the Permian Basin, the star of shale gas.
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Crude oil trading reminder: falling inventories boosted oil prices to recover, wary of blind optimism about the new crown epidemic
Time of Update: 2023-03-19
S. inventory data showed strong consumer demand; However, due to the accelerated transmission of variant strains and the expectation of interest rate hikes by the Federal Reserve, there are downside risks to oil prices.
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Current status and development trend of the global synthetic base oil market
Time of Update: 2023-03-19
+ base oil production capacity is approximately 2Mt/a, with the main refineries QATAR Petroleum, PEARL Refinery (GTL Base Oil), SK and Indonesia's Pertamina joint venture refinery in Dumai, and the Adnoc refinery in Abu Dhabi, Saudi Arabia, accounting for about 90% of the total global APIIII.
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Market risk linkage Oil prices have repeatedly fluctuated and weakened
Time of Update: 2023-03-19
In terms of rig count, the number of active oil and gas rigs in the United States increased by three to 579 in the week ended Dec. 17, the highest level since April 2020.
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Diesel Cetane Technology (LCO) Maximized
Time of Update: 2023-03-19
The use of special catalysts and single-stage one-time through the process flow, so that inferior diesel undergoes deep hydrogenation and desulfurization, nitrogenation, aromatic hydrocarbon saturation and selective ring opening and other reactions, so as to achieve the goal of reducing density, improving cetane number, and maintaining high diesel yield.
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No. 92 gasoline was reduced by 0.11 yuan per liter
Time of Update: 2023-03-19
On the afternoon of December 17, the National Development and Reform Commission issued a notice that, according to the recent changes in oil prices in the international market, in accordance with the current refined oil price adjustment mechanism, from 00:00 on December 18, 2021, domestic gasoline will be reduced by 130 yuan per ton and diesel fuel by 125 yuan per ton.
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What is isomerization
Time of Update: 2023-03-19
Therefore, the isomerization process as an oil processing process has gradually received attention and developed rapidly in recent years.
Therefore, the isomerization process as an oil processing process has gradually received attention and developed rapidly in recent years.
