Because shale oil revolution brought about a surge capacity, US crude oil import amount from OPEC countries is the lowest in the past 30 years. It is was showed in August that OPEC share of US crude oil import fell to 40 percent, 2.9 million barrels per day, the lowest import amount since May 1985. US crude oil imports peak appeared in 1976, when 88 percent of US crude oil was imported from OPEC countries. The impacts of shale oil revolution on OPEC member states vary, so there is internal divergence...
US Crude Oil Import Amount from OPEC Was 30-year Lowest Read
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As a kind of clean energy, gas plays a key role in Asia, especially having great influence on ensuing security of energy usage, synergetic development of economy and environment. However, the influence expanding further needs tighter connection between Asian gas market and global gas market. The report-How to Establish Gas Transaction Center in Asia published by IEA points out that in the future, status of gas in Asia will directly depend on whether pricing accords with supply-demand relationship...
IEA: A Gas Transaction Center Is Needed in Asia Read
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According to the information of IEA, China will become the largest oil consumer in the next 20 years, instead of the U.S. “In the early of the 2030’s , China will take place of the U.S., becoming the largest oil consumer in the world. And that will be a historic moment.” IEA summarizes in its Outlook for Global Energy. The report forecasts the long-term trend of energy. Complete report will be released on news conference which will be held in London. IEA claims that...
China Will Become the Largest Oil Consumer Read
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Relevant data showed that Russian oil and gas production did not be affected by sanctions of the Western, supporting global oversupply and making oil price continue bearing pressure. Commerzbank claimed that Russian constant high oil production was one of the factors which result in oversupply in global oil market. The report of Commerzbank claimed that according to the data published by The Ministry of Energy of the Russian Federation, in October, Russian daily crude and gas condensate...
Russian High Oil Production Supports Global Oversupply Read
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On October 27, the newest analysis of Platts showed that Chinese oil demands increased to the second highest level in September. The growth rate was the highest record in 15 months. In September, Chinese oil demands were 42.34 million tons (10.35 million barrels per day), growing by 7.4%, compared with the same period of last year. Analysts pointed out that previous stimulus measures (including loosen credit controls) adopted by Chinese government, summer fishing off season in Chinese water...
Chinese Oil Demands Grew Greatly in September Read
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Russia failed to reach a gas supply contract for restarting to transmit gas to Ukraine in the coming winter, when Russian officials met with Ukrainian officials in Brussels on Tuesday. Focuses of dispute include: how much Ukraine should pay to Russia for gas having been consumed, when Ukraine should pay to Russia and conditions about gas transmission in the future. Some European countries concerned that would disturb the progress that Russia would supply gas to them through Ukraine. ...
Russia Failed to Reach Gas Supply Contract with Ukraine Read
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On October 10, Gazprom expressed that since June when concerned countries put off South Stream gas pipe from Russia to Europe, the construction of South Stream gas pipe had risen from 16 billion euro to 23.5 billion euro. EU took above measures under the circumstance that crisis in the eastern of Ukraine resulted in strained relationship between EU and Russia and sanctioning on each other. Analysts consider that construction cost is disadvantageous for South Stream gas pipe advancing. However,...
Construction Cost of South Stream Gas Pipe Rising Read
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Gas is always treated as eco-friendly fuel. The U.S. has ever expected to use gas to get rid of pollution caused by coal. Because of total of carbon dioxide released by burning coal is two times of gas. However, a new research points out that widely using low price gas may not reduce carbon emission in the U.S. Gas may hinder using cleaner renewable energy sources such as wind energy and solar energy. Steven Davis, joint author of paper and the energy scientist of University of California,...
Gas May Not Reduce Carbon Emission Read
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Japan intends to activate energy cooperation with Russia. In its new plan, Japan plans to build an oil refining plant which is not far from Vladivostok and build under gas pipe from Sakhalin to Tokyo crossing though Japan Sea. Mayor of Niigata announced that the oil refining plant would be invested and build completely by Japanese and Niigata would become the main transfer terminal of products manufactured in the plant. The new plant will provide new power for Japan to buy oil from...
Japan Plans to Build Undersea Gas Pipe Read
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Rosneft claimed that they had already found an oil field in the Arctic Pole with the assistance of Exxon Mobil, which meant that the explored region may become one of the most important global oil-producing regions. Igor Sechin, the CEO of Rosneft announced that there were as high as 1 billion barrels of oil existing in the operating drilling. The same geologic structure means that oil reserves in the region is comparable with that in Gulf of Mexico. It is a pity that the expiration...
Rosneft Found an Oilfield in the Arctic Pole Read
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