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The Board of Directors of Canada-based Athabasca OilCorporation has given the go-ahead to the company’s $536-million Hangingstone 1 SAGD (steam-assisted gravity drainage) Project; the company also reaffirmed that its Light Oil Division is on track to meet its year-end production target of 10,000 to 11,000 barrels of oil.
Despite the decision to de-emphasize microbial oil, Neste Oil emphasized that cellulosic waste will continue to play an important role in its research strategy, adding that it remains committed to its goal of further extending its feedstock base and making greater use of waste and residues in this area in particular.
Exxon Mobil Corporation plans to invest approximately $185 billion over the next five years to develop new supplies of energy to meet expected growth in demand, Chairman and CEO Rex W. A total of 21 major oil and gas projects will begin production between 2012 and 2014. billion oil equivalent barrels.
Kinder Morgan Energy Partners L.P.and Imperial Oil formed a 50-50 joint venture to build a crude oil rail-loading facility in Strathcona County, Alberta, called the Edmonton Rail Terminal. Accessing new and existing markets is critical for our continued growth and responsible development of Canada’s oil sands.
With the disputes now resolved, REG and Neste Oil look forward to working together to grow and expand the renewable fuels and chemicals marketplace globally. REG became the owner of the former Dynamic Fuels facility in Geismar, Louisiana in June, 2014.
TransCanada Corporation has entered into binding agreements with Phoenix Energy Holdings Limited (Phoenix) to develop the Grand Rapids Pipeline project in Northern Alberta. The Grand Rapids Pipeline system is expected to be in-service by early 2017, subject to regulatory approvals, with capital spent between 2014 and 2017.
Lux Research has investigated the trends of corporate financing of alternative fuels from oil majors, based on a non-exhaustive database of more than 1,000 deals and partnership engagements from 2000 through September, 2014. Total and Chevron are the most active corporate investors in the fermentation domain.
The Manifa field’s production capacity is expected to reach 500,000 bpd by July 2013, and is planned to reach its full design capacity of 900,000 bpd of Arabian Heavy crude oil by the end of 2014, while Saudi Aramco’s maximum sustained capacity will be maintained at the level preceding Manifa production.
Jordan’s Council of Ministers on Sunday endorsed all agreements prepared by the national electricity company with Estonian company Enefit which will carry out a mega oil shale energy project in the Kingdom. billion project, which will be the largest oil shale venture in the region and the world. Earlier post.). Earlier post.).
Neste Oil Singapore Pte Ltd and National Oxygen Pte Ltd (NOX), one of the one of the largest industrial gas manufacturers in Singapore, have signed an agreement to install a carbon dioxide recovery and liquefaction plant at Neste Oil’s renewable diesel (NExBTL) refinery in Singapore.
CIRI), an Alaska Native corporation, is proposing an underground coal gasification (UCG) project that would use the resulting syngas to fuel a new 100 MW combined cycle power plant. Power production could begin in early 2014. CIRI says it is committed to carbon capture and sequestration by way of enhanced oil recovery.
TransCanada Corporation is moving forward with the 1.1 The conclusion of the successful open season confirmed strong market support for a pipeline with approximately 900,000 bbl/d of firm, long-term contracts to transport crude oil from the oil sands area in Western Canada to Eastern Canadian refineries and export terminals.
billion, 8-year loan agreement with China Development Bank (CDB) for boosting production at the Sinovensa heavy oil joint venture in the Orinoco belt from 140,000 barrels per day to 330,000 barrels per day by 2016. million barrels per day by the end of 2014. million barrels per day by the end of 2014. Schenk C.J., Klett, T.R.,
US-based Devon Energy Corporation has received regulatory approval from the Alberta Energy Resources Conservation Board and Alberta Environment and Water to move forward with the company’s third oil sands project in Canada. Like Jackfish 1 & 2, Jackfish 3 represents an estimated 300 million barrels of gross recoverable oil.
The ECO-H System is a patent-pending Hybrid Power Management System for the oil and gas industry developed by ECO-H Technologies and distributed by Tesco Corporation. The seven satellites worth of battery packs will be delivered from mid-2014 to 2015.
Chevron Corporation announced a significant oil discovery at the Anchor prospect in the deepwater US Gulf of Mexico. 2 encountered oil pay in multiple Lower Tertiary Wilcox Sands. Anchor is Chevron’s second discovery in the deepwater Gulf in less than a year. Anchor co-owners are Cobalt International Energy, Inc. (20%),
Chevron Corporation announced that it had conducted a successful production test on the St. Oil flow rates, though limited by testing equipment constraints, exceeded 13,000 barrels of oil per day. Malo PS003 well in the prolific Lower Tertiary trend in the deepwater Gulf of Mexico. Chevron’s Jack/St. billion.
Summit Power Group, LLC and Blue Strategies, LLC have signed a 15-year CO 2 offtake agreement with Whiting Petroleum Corporation for some of the CO 2 that will be captured by Summit’s Texas Clean Energy Project ( TCEP ), a coal gasification with carbon capture polygen project being developed in Penwell, Texas, outside Odessa. Earlier post.).
Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices. per million Btu (MMBtu).
Houston-based Biofuels Power Corporation ( BFLS ) has signed a letter of intent with ThyssenKrupp Industrial Solutions (Africa) (Pty) Ltd and Liberty GTL, Inc. The parties have established a non-binding target date to complete installation and commissioning of the GTL Pilot Plant on or before 31 December 2014.
Chevron Australia Pty Ltd, a subsidiary of Chevron Corporation, will proceed with the development of the large Gorgon natural gas project offshore Western Australia. billion barrels of oil (boe). First gas is planned for 2014. Supply from both agreements is expected to commence in the second half of 2014. Source: Chevron.
Petrobras has signed an agreement with Jogmec (Japan Oil, Gas, and Metals National Corporation) with the aim of commencing a technical feasibility study on flexible pipes for oil production in the pre-salt cluster. The study is scheduled for completion in December 2014.
Australia-based airline Virgin Australia is partnering with Renewable OilCorporation (ROC), Dynamotive Energy Systems Corporation and Future Farm Industries Co-operative Research Centre (FFI CRC) to develop a sustainable aviation biofuel that also has benefits for the Australian farming community and the environment.
China Petrochemical Corporation (Sinopec Group) and Saudi Aramco recently signed the joint venture agreement related to the ongoing development of Yanbu Aramco Sinopec Refining Company (YASREF) Limited, formerly the Red Sea Refining Company. The YASREF refinery is scheduled to be operational in the second half of 2014. Earlier post.).
Tesoro Corporation subsidiary Tesoro Refining & Marketing Company LLC and Savage Companies have formed a joint venture to develop and to operate a new 120,000 barrel-per-day (bpd) crude-by-rail unloading and marine loading facility at the Port of Vancouver, Wash., subject to approval by regulatory agencies and Port Commissioners.
Rusatom Overseas, a subsidiary of Russia’s State Atomic Energy Corporation ROSATOM, and CNNC New Energy (China) signed a Memorandum of Intent to cooperate in the development of floating nuclear power plants. The concept takes advantage of two mature technologies: light-water nuclear reactors and offshore oil and gas drilling platforms.
The Nikkei reported that the top oil refiners in Japan and S. Korea—JX Nippon Oil & Energy Corp. —will join forces in petrochemicals and lubricating oils. Production of paraxylene, an oil-based raw material for synthetic fibers and plastics, is expected to begin around 2014. and SK Innovation Co.—will
The Chinese government recently granted final approval for a joint venture project between Kuwait Petroleum Corporation (KPC) and China Petroleum and Chemical Corporation (Sinopec), one of the world’s largest refiners, to build a world-class refinery and petrochemical complex in south China. Earlier post.).
Inter Pipeline Fund has entered into a binding agreement with Canexus Corporation to transport bitumen blend to Canexus’ unit train rail loading operations near Bruderheim, Alberta. Inter Pipeline shipped nearly 30% of Canadian crude oil supply and about 40% of oil sands volumes in 2012.
Global energy demand will increase 25% between 2014 and 2040, driven by population growth and economic expansion, ExxonMobil forecasts in the 2016 edition of its annual The Outlook for Energy. Emissions in OECD nations are projected to fall by about 20% from 2014 to 2040. Light-duty vehicle demand trends - projections.
Using activated amine (ADIP-X), Quest will capture one-third of the CO 2 emissions from Shell’s Scotford Upgrader, which turns oil sands bitumen into synthetic crude that can be refined into fuel and other products. Quest was made possible through strong collaboration between the public and private sectors aimed at advancing CCS globally.
For purposes of the new HD National Program, the heavy-duty fleet incorporates all on-road vehicles rated at a gross vehicle weight at or above 8,500 pounds, and the engines that power them, except those covered by the current GHG emissions and Corporate Average Fuel Economy standards for model year 2012-2016 passenger vehicles. off-cycle”).
Chevron Corporation has sanctioned development of the Jack/St. It will include three subsea centers tied back to a hub production facility with a capacity of 170,000 barrels of oil and 42.5 Startup is anticipated in 2014. The Jack and St. million cubic feet of natural gas per day. The Jack and St.
Toyota Motor Corporation has developed a new series of fuel-efficient gasoline engines that achieve improved thermal efficiency. 2014) “New Combustion Concept for Turbocharged Gasoline Direct-Injection Engines,” SAE Int. Engines 7 (2) doi: 10.4271/2014-01-1210. Atkinson cycle engine can reach a thermal efficiency of 38%.
Chevron Corporation has sanctioned development of its $4-billion Big Foot project in the deepwater US Gulf of Mexico. The development will utilize a dry tree Extended Tension Leg Platform with an on-board drilling rig and have production capacity of 75,000 barrels of oil and 25 million cubic feet of natural gas per day.
Eligible entities include Indian tribes, State or local governments, corporations, farmer co-ops, agricultural producer associations, higher education institutions, rural electric co-ops, public power entities or consortiums of any of the above. million loan guarantee to build a refined alga oil commercial facility.
When it takes up to four million pounds of sand to frack a single well, it’s no wonder that demand is outpacing supply and frack sand producers are becoming the biggest behind-the-scenes beneficiaries of the American oil and gas boom. US Silica Holdings Inc. Source: [link].
What does it take to build up a new region for oil and gas development? But it is not as easy as just sticking a drill into the ground and pumping out oil and gas. Even with significant oil and gas reserves trapped in shale, a variety of factors need to come together to turn a given region into a significant producer.
The air compressor features a high-speed brushless DC motor with a patented, oil-free and angular ball bearing design. This air compressor technology is a finalist for the 2014 Automotive News PACE Award in the product innovation category. HVCC is a 70% owned subsidiary of Visteon Corporation and is traded on the Korea Stock Exchange.
TransCanada Corporation, saying it was “ disappointed ” by the decision on Wednesday to deny the Presidential Permit for Keystone XL ( " src=" ">, also said it remains fully committed to the construction of the pipeline. Ninety-nine percent of our oil exports currently flow to the United States.
Hess Corporation will proceed with the development of Tubular Bells, a deepwater oil and gas project operated by Hess in the Gulf of Mexico. Drilling is scheduled to begin in 2012 and initial production is expected in 2014, subject to the receipt of necessary government permits. The development is estimated to cost $2.3
Volvo Buses expect to be able to reduce emissions of carbon dioxide by up to 90% by using biodiesel instead of standard, fossil diesel oil in the combustion engine. A demonstration project has also been planned for 2014 involving eight plug-in hybrids in Stockholm. —Håkan Karlsson, President of Volvo Bus Corporation.
The revised package is for corn oil biodiesel. The renewable diesel proposals both come from Diamond Green Diesel (DGD) in Louisiana, using used cooking oil (UCO) as a feedstock; the proposals differ in the mode of shipment to California: one by rail, one by ship. DGD began producing renewable diesel at its plant in St. gCO 2 e/MJ.
TransCanada Corporation has received additional binding commitments in support of the proposed Keystone XL pipeline system—designed to bring Canadian oil sands crude to Gulf Coast refineries—following the successful conclusion of the Keystone Houston Lateral Open Season. million barrels per day.
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