In its latest monthly Oil Market Report (issued May 14), the International Energy Agency (IEA) forecasts that global oil demand in 2013 will rise to 90.6 million barrels per day (MMb/d), a slight increase from last month’s forecast.

A new study by the U.S. Public Interest Research Group (PIRG) shows that the new “millennial” generation is turning-away from the car-mania of prior North American generations -- with the result that vehicle miles traveled (VMT) is plummeting and demand growth for new cars is declining.

San Antonio – Despite what seems to be a big current price advantage for liquefied natural gas (LNG) versus diesel in long-hauling trucking and locomotive markets in North America, fuel price alone won’t determine how much market-share LNG eventually takes from diesel.

A new report by the International Energy Agency (IEA) and the World Bank finds that ending global energy poverty would require at least US$600 billion in incremental investments each year from now until 2030.

The United Nations Environment Program (UNEP) on May 13 unveiled a study indicating that today’s relatively energy-poor Africa could leapfrog the rest of the world in adopting relatively “green” energy.

Eight EU energy firms including Eni, Enel, Gasterra, GDF Suez, Iberdrola, RWE, E.On and GasNatural Fenosa issued a joint statement to the European Council on May 21, citing an “urgent need to tackle the perilous situation facing the European energy sector.”

The International Maritime Organization (IMO) Marine Environment Protection Committee (MEPC) received a proposal on May 16 from Russia and other member nations to delay by five years – to Jan. 1, 2021 – the upcoming “Tier-3” limits on nitrogen oxides (NOX) from new engines and new ships, which otherwise would take effect January 1, 2016.

U.S. lawmakers could increase federal revenues and encourage carbon-dioxide (CO2) emission reductions by establishing a national carbon tax, according to a May 22 analysis from the Congressional Budget Office (CBO).

The European Environmental Agency (EEA) on May 14 unveiled a series of studies illustrating how “green” tax policies could cut pollution and boost investment in advanced-technology industries and eliminate tax policies in many European countries favoring diesel over gasoline.

The U.S. Department of the Interior (DOI) on May 16 released an updated draft proposal that would establish safety standards for hydraulic fracturing (fracking) on public and Indian lands as part of the Obama administration’s “all-of-the-above” energy strategy supporting safe and responsible domestic energy production.

Tesoro Corp. announced June 3 that it closed the acquisition of BP’s fully-integrated Southern California Refining and Marketing business, including the 266,000-barrel-per-day (b/d) high-conversion Carson refinery and more than 800 dealer-operated retail stations.

France-based oil major Total announced May 22 that it approved a €1-billion (US$1.29-billion) modernization project for its Antwerp, Belgium refining and petrochemical complex – including investments that will enable greater output of Euro-5 ultra-low sulfur diesel (ULSD).

Technip announced June 4 that it won a project management consultancy contract from Iraq’s state-owned SCOP for the engineering, procurement and construction (EPC) phase of the Karbala refinery project in Iraq.

Chevron Phillips Chemical Co. LP announced June 3 that it will add another furnace at its Sweeny petrochemical complex in Old Ocean, Texas, that will increase ethylene production by 200 million pounds annually.

Houston-based Genesis Energy announced May 21 that it will expand its existing crude-by-rail terminal in Natchez, Miss. – designed to handle “straight and/or minimally diluted bitumen” delivered by the Canadian National Railway – and construct a new unit-train loading facility (“Pronghorn”) in Wyoming’s Powder River Basin adjacent to the Niobrara shale-oil play.