EIA: Fuel economy improvements are projected to reduce future gasoline use

Anticipated changes in energy consumption by light-duty vehicles in the United States are based on two factors: the amount of travel and the fuel economy of the vehicles used. The Annual Energy Outlook 2017 Reference case projects a decline in light-duty vehicle energy use between 2018 and 2040 as improvements in fuel economy more than offset increases in light-duty vehicle miles.

Equatorial Guinea, Arabian Energy enter agreement for African oil terminal

MALABO, Equatorial Guinea -- Following the signing of an agreement between the Government of Equatorial Guinea and Arabian Energy DMCC to work together on the Bioko Oil Terminal in Saudi Arabia, the realization of the petroleum tank farm gained some important momentum.

Black Sea diesel plant upgrade delayed by a year to 2019

MOSCOW (Reuters) — Russia's Rosneft has postponed plans to upgrade a plant on the Black Sea by around a year, delaying the supply of an additional 5.5 MMt of Russian diesel per year, industry sources told Reuters.

Exxon says to open gas stations in Mexico, invest $300 MM

MEXICO CITY (Reuters) -- ExxonMobil Corp announced it will bring its Mobil-brand gas stations to Mexico, pumping $300 MM in the coming decade as it seeks to gain a foothold in the country's retail fuel market.

Nigeria's NNPC finalizing $6 B worth of oil-for-product swaps

LONDON (Reuters) -- Nigeria's state oil company is in the final stage of signing $6 B worth of deals to exchange more than 300,000 bpd of crude oil for imported gasoline and diesel, sources with direct knowledge of the process told Reuters.

Unipec, Vitol set to supply Bangladesh with fuel in H2 2017

DHAKA/SINGAPORE (Reuters) -- Bangladesh Petroleum Corp has received offers from 11 companies for fuel supplies in the second half of the year, with Unipec and Vitol looking set to win the tender with the lowest offers on middle distillates and fuel oil, a BPC official said.

US motorists on roads for Memorial Day weekend to be highest since 2005

NEW YORK (Reuters) -- The number of Americans traveling by car for the Memorial Day holiday will hit a 12-year high this year, fueled by a growing economy and relatively low gasoline prices, the nation's largest motorists' advocacy group said on Wednesday.

Fire triggered by suspected fuel thieves kills four in Mexico

MEXICO CITY, (Reuters) -- A fire sparked by suspected fuel thieves killed four people and forced Mexico's state oil company Pemex to temporarily halt pumping operations along a pipeline in the country's violent eastern state of Veracruz, the company said on Saturday.

US judge approves Volkswagen 3.0 liter, Bosch diesel settlements

(Reuters) -- A federal judge on Thursday granted final approval on an agreement for Volkswagen AG to pay at least $1.22 B to fix or buy back 80,000 3.0-liter vehicles in the United States linked to the German automaker's diesel emissions cheating scandal.

EIA: Fuel economy improvements projected to reduce future gasoline use

Gasoline demand is a function of the fuel economy of the vehicle fleet and the total number of miles driven. Over time, fuel economy of the vehicle stock (those in use) changes as a result of market developments and changes in fuel economy standards for new vehicles. Additional complexities arise from changing vehicle designs and how vehicles are classified.