... the Energy Information Administration (EIA), which showed that global demand for oil, gas condensate, and other liquid hydrocarbons in Q2 2024 exceeded production by 720,000 bpd. "Due to the shortage on the global market, commercial oil and petroleum product stocks in OECD countries dropped by 28,000 barrels, which is almost 30% equivalent to the daily global demand. This, in turn, slightly boosted price growth: the average price of Brent oil increased from $82 to $85.3 per barrel from May to July ...

... EU spent approximately €370 billion on energy resources worldwide. U.S. exports amounted to around €68 billion (approximately $79 billion), constituting 18% of the total. U.S. shares in LNG imports reached 45.3% (€18.8 billion), while oils and petroleum products accounted for 16.1% (€42 billion). This suggests the ambition of the U.S. to increase its share of energy imports from 18% to 67.5%. Tamara Safonova, Director General of the Independent Analytical Agency for the Oil and Gas Sector (“NAANS-MEDIA”),...

... Infrastructure: Logistics Optimization: Construction and modernization of pipelines and transport hubs to ensure uninterrupted supply of raw materials and products. Expansion of Export Capabilities: Development of port infrastructure to increase volumes of petroleum product exports. Digitalization and Automation: Implementation of Digital Technologies: Use of production management systems and data analytics to optimize processes. Automation of Production: Application of robotic complexes to enhance safety and efficiency ...

... would have otherwise relied on fossil fuels, the plant is expected to reduce CO 2 emissions by about 1.53 million tons annually. This is equivalent to preventing the combustion of hundreds of thousands of tons of coal or the corresponding volume of petroleum products each year. Thus, this new facility will help improve the environmental situation in the region and contribute to fulfilling the country’s climate commitments. Integration into the Energy Hub The dual-tower solar power plant in Gansu does not ...

... partner of NEFT Research, for refineries, an export ban translates to decreased revenue, including in foreign currency. On the other hand, one should not dramatize the consequences—gasoline export constitutes a small portion of the overall volume of petroleum product exports. However, gas station prices are unlikely to decrease—this is something Frolov believes should not be expected. Nonetheless, even a relatively minor drop in revenue is an unwelcome signal for any production operation; nobody wants to ...