What is forced induction? Forced induction has built a reputation for being the ultimate addition to a vehicle when chasing significant power increases. Today, forced induction can be found more and more in passenger vehicles, as it can improve efficiency while preserving power and torque. But what exactly is forced induction? In this article, we’ll go over the pros and cons of forced induction systems, as well as why they’ve taken such a massive hold on the automotive industry. What is forced induction? When you get down to it, engines are air pumps. Combustion is achieved by igniting a mixture…
Author: Automotivedealernews.com
US commercial crude inventories, excluding those in the Strategic Petroleum Reserve (SPR), fell by 2.2 million barrels from the week ended September 22 to the week ended September 29. September, according to the latest weekly report on the state of oil from the US Energy Information Administration (EIA). . The country’s crude oil inventories, excluding the SPR, stood at 414.1 million barrels on September 29, 416.3 million barrels on September 22 and 429.2 million barrels on September 30. 2022, revealed the report, which was published on October 4. “At 414.1 million barrels, U.S. crude inventories are about five percent below…
In a new report sent to Rigzone on October 3, Standard Chartered analysts looked at the fall in Brent oil prices that occurred earlier this week, noting that the commodity fell below 90 dollars per barrel at a given time. “The November Brent contract expired on September 29 at $95.31 a barrel, up $2.04 a barrel in its last week of trading,” analysts noted in the report. “The November expiration left a big gap on the technical charts, with the November-December spread rising above $1.50 a barrel on September 26 and above $2 a barrel the following day before expiring…
Even now, more than three years after the start of the oil and gas industry’s biggest consolidation in a quarter-century, hardly a month goes by without another major M&A announcement. This week, Civitas Resources said it will acquire acreage and production in the Permian from Vencer Energy for $2.1 billion. The main drivers of these deals, many of which are valued in the billions of dollars, are clear. Among other things, E&Ps seek scale and the economies of scale that are achieved. They have also come to believe that it makes more sense to grow production through mergers and acquisitions…
Suncor Energy Inc. has agreed to buy TotalEnergies EP Canada Ltd., which has a 31.23 percent stake in the Fort Hills oil sands mining project, for $1.07 billion (C$1.468 billion). The acquisition adds 61,000 barrels per day (bpd) of net bitumen production capacity and 675 million barrels of proven and probable reserves to Suncor’s existing oil sands portfolio, Suncor said in a news release Wednesday. Regulatory approvals have been received and, subject to closing, the transaction will have an effective date of April 1, the company said. Fort Hills, which Suncor operates, is a truck and shovel open pit mine…
Japanese exploration and production company Inpex Corp, Paris-based Air Liquide Group, Oklahoma City-based LSB Industries, Inc. and Houston-based Vopak Moda Houston LLC are collaborating on the engineering and preliminary design for the development of a large-scale low-carbon ammonia production and export in the Houston Ship Channel. If the project goes ahead, its first phase aims to produce more than 1.1 million metric tonnes per annum (mtpa) of low-carbon ammonia by the end of 2027, with options for future expansions, Inpex said in a press release on Monday. The parties completed a feasibility study of the project in early 2023. Inpex…
Oil fell the most in more than a year as early signs that demand is flagging exacerbated market jitters at the prospect of a punishing stretch of high interest rates. West Texas Intermediate fell 5.6% to below $85 a barrel, the biggest one-day drop since September 2022. Despite signs of a tight market today, the prospect of more supplies in the future as well as technical selling and algorithm driven traders. rush to get out, pushed the price down to a complete rout. After rallying around 40% from mid-June to late September, crude oil has reversed course in the past…
The southern Indiana fields are an unlikely proving ground for BP Plc’s $4.1 billion bet on renewable natural gas. There, in the small rural town of Medora, a first-of-its-kind modular facility will begin operating on Wednesday, turning waste gas released from decomposing garbage at the area’s landfill into a product ready for pipe BP hopes the facilities are the start of things to come: The company has five more modular facilities on track to come online this year and plans to bring up to 20 into service across the country annually The work will bring both environmental and economic benefits…
High oil prices always affect oil and gas procurement positively. So explains Gladney Darroh, an energy search specialist with 47 years of experience who developed and coached the Winning the Offer interview methodology, which earned him the #1 ranking of technical and professional recruiter in Houston for 17 years consecutive by HAAPC. “Projects that were not economical to do at lower prices are now quite economical to do at higher prices, and projects that were economical to do at lower prices are scaled up (which can often be done quickly) to leverage quickly a price increase.” the founding partner and…
BMI, a Fitch Solutions company, revealed in a new report sent to Rigzone that it has raised its Brent oil price forecasts through 2027. The company now sees Brent oil prices at $83 a barrel this year, $84 a barrel in both 2024 and 2025, and $81 a barrel in 2026 and 2027, according to the report. A Bloomberg consensus included in the report projected Brent to average $81 per barrel in 2023, $84 per barrel in 2024, $81 per barrel in 2025, $77 per barrel in 2026 and $72 per barrel in 2027. BMI Contributes to Bloomberg. consensus In…