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The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. Earlier Bloomberg New Energy Finance analysis showed that, with gasoline at $2.09
Cool Planet Energy Systems, a renewable fuels and biochar company ( earlier post ), closed on its targeted $100 million Series D financing. The company broke ground on its first biofuel production facility in Alexandria, Louisiana, on 26 February 2014.
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. Less active oil majors in this space include ExxonMobil and ConocoPhillips.
The US Environmental Protection Agency (EPA) will not finalize the 2014 applicable percentage standards (the 2014 Renewable Volume Obligations, RVOs) under the Renewable Fuel Standard (RFS) program until sometime next year. Earlier post.). Nearly all gasoline sold in the US is now E10 (10% ethanol). Reactions to the new delay.
million barrels daily, including from Russia, to reverse the free fall of oil prices. Now, many OPEC members are both desperate while not yet recovered from the 2014 blow. A recent report from Capital Economics said Saudi Arabia has its problems but it could withstand lower oil prices without feeling too much of a pinch.
This is due to wind and solar projects generating only when natural resources are available while oil, coal, and gas plants can potentially produce around the clock. But like trying to turn a massive oil tanker, it takes time. Meanwhile, the volume of actual coal-fired power generated and consumed in developing countries jumped to 6.9
The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead. The collapse of oil prices forced the majors to slash spending on exploration, cut employees, defer projects, and look for efficiencies. by Nick Cunningham of Oilprice.com.
In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. Plunging oil prices have substantially reduced Saudi revenues.
The US Department of Energy (DOE) released its five-year 2014-2018 Strategic Plan. Leverage increased private sector financing for deployment of “all of the above” energy technologies. The plan is organized into 12 strategic objectives aimed at three distinct goals: Science and Energy; Nuclear Security; and Management and Performance.
KiORs cellulosic gasoline and diesel are drop-in hydrocarbon fuels; its biomass-to-cellulosic fuel technology platform combines a proprietary catalyst systems with catalytic cracking processes that are used in crude oil refineries to produce gasoline. In April 2012, it mechanically completed its Columbus, Mississippi facility.
A continuing sharp decline in technology costs—particularly in solar but also in wind—meant that every dollar invested in renewable energy bought significantly more generating capacity in 2014. A key feature of the 2014 result was the rapid expansion of renewables into new markets in developing countries. billion.
November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. In the course of 2015, both have raised output and exports over 2014 levels—Saudi Arabia by ~500 and 550~ mbbls/day respectively and Russia by ~100 and ~150. by Dalan McEndree for Oilprice.com.
Other than that commitment, however, Kior said it has no other near-term sources of financing. Kior said that if it is unsuccessful in finalizing definitive documentation with Khosla on or before 1 April 2014—i.e., The crude oil proceeds to the hydrotreating unit to be refined into gasoline, diesel and fuel oil.
Initial commercial operation of up to a 20,000–22,000 barrels per day project is expected to start in 2014. MBFP says it plans to sequester the CO 2 that is captured from the facility by selling the CO 2 for enhanced oil recovery (EOR). MBFP earlier this year entered into a contract with a subsidiary of Denbury Resources Inc.
This new investment follows a previous investment of $40 million from BioFields in 2014. It is then isolated and purified, while the algal biomass is processed to extract and produce a bio-oil co-product. The algal bio-oil can be used to produce biodiesel, renewable diesel, or other bio-oil-derived products.
The current execution plan for 2014 is to focus exclusively on bringing the plant to its nameplate basis, and further to develop yield and process efficiency through R&D. For the 2014 percentage standards, EPA proposed reducing the overall target to 15.21 —Fred Cannon. Earlier post.)
Russia’s Rosneft and ExxonMobil signed agreements to implement a long-term Strategic Cooperation Agreement concluded in August 2011 jointly to explore for and to develop oil and natural gas in Russia and to share technology and expertise. In addition, RN Cardium Oil Inc., Drilling of the first exploration well is planned for 2014-2015.
In the Permian Basin, approximately one additional barrel of oil can be recovered for each 6,000 cubic feet (6 Mcf) of compressed CO 2 injected into the oil field. TCEP will begin delivering CO 2 to Whiting when the plant commences operations in late 2014 or early 2015; construction is scheduled to begin at the end of this year.
The ratio between gasoline, diesel and fuel oil expected to be produced during the year is approximately 35% gasoline, 40% diesel, and 25% fuel oil. For the 2014 percentage standards, EPA proposed reducing the overall target to 15.21 Cellulosic gasoline and diesel company KiOR, Inc. Earlier post.) Earlier post.)
Cool Planet’s patented technology comprises three main components: Biomass Pyrolysis: Hemi-cellulosic or lignocellulosic biomass is processed through a mechanical biomass fractionating system that uses pressure and heat to create streams of useful hydrocarbon components (bio-oil or pyrolysis oil). Earlier post.).
REG is a long-term customer of ours, buying fats, oils and greases to make renewable fuel, and we hope to continue that relationship. REG may seek to use existing cash on hand and/or one or more financing vehicles, including public or private debt or equity, to satisfy this condition.
As mandated upon its establishment in 2009, 60% of the National Climate Change Fund comes from national oil exploration revenues that are deposited into a special account held by the Ministry of Environment. Waste with energy potential. Vegetal charcoal. Projects that improve energy efficiency through the production of vegetal charcoal.
OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. billion vs. $1.6 billion) and $1 billion ($2.5
With our new product, Cellic CTec3, and the first plants starting commercial production, this is a huge step forward in the transition from an oil-based economy to a bio-based economy. The first plants start commercial production of advanced biofuels this year. —Novozymes’ CEO Steen Riisgaard.
over 2014, continuing an unbroken five-year run of sales recovery and growth from the low point set in the depth of the Great Recession in 2009. China will lead the sector’s volume growth, with particular strength in SUVs, though IHS expects the market to slow from 2014. million, an increase of 2.4% million units. million units.
As soon as all stages of the bioliq process will have been linked, the pilot plant will supply high-quality fuel from straw, probably in mid-2014. This substance, the so-called bioliqSynCrude, can be transported over long distances in an economically efficient manner and is subjected to further central processing.
In two other scenarios considered, a high oil price scenario (using EIA projections) and a battery swap operator-subsidzied scenario, EV new vehicle sales penetration reaches 85% and 86% respectively by 2030. candidate in economics with a specialization in international finance and environmental economics. Becker (2009).
million in Series C financing ( earlier post ) is partnering with AVL to develop the Next-Generation Combat Engine for the US Army Tank Automotive Research, Development and Engineering Center (TARDEC) ( earlier post ). Achates Power, Inc., The company, which recently raised $35.2 For the study, Achates Power modeled a 2.25-liter, Kessler, J.,
Khosla Ventures and Khosla are prepared to fund these commitments either as part of a broader debt and/or equity financing structure, in connection with a note that would convert at a premium to the current price of the common stock or on alternative terms if requested by KiOR, and mutually agreed by the parties. Earlier post.).
In 2011, the Obama Administration finalized the first fuel economy standards for Model Year 2014-2018 for medium- and heavy-duty trucks, buses, and vans. A proposal for existing plants is due in 2014, with targeted file rule in 2015. Earlier post.). Providing a toolkit for climate resilience. Nuclear Power.
DNV and GL merged in September 2013 to form DNV GL—the world’s largest ship and offshore classification society, the leading technical advisor to the global oil and gas industry, and a leading expert for the energy value chain including renewables and energy efficiency. Ship electrification and renewables.
A new study by Bloomberg New Energy Finance (BNEF) forecasts that sales of electric vehicles will hit 41 million by 2040, representing 35% of new light duty vehicle sales worldwide. This would be almost 90 times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014.
Senate Finance Committee Chairman Max Baucus (D-Mont.) Feedback on the discussion draft is requested by 31 January 2014. introduced the latest in a series of discussion drafts to overhaul the US tax code. It also would repeal a number of current tax incentives, including those for plug-in electric vehicles and fuel cell vehicles.
Ensyn will convert 440 dry tons of woody biomass into a renewable fuel oil (RFO) product. The role of EDP is to develop and finance certain projects in the United States, deploying Ensyn’s RTP technology to produce renewable fuels and refinery feedstocks from cellulosic biomass. The first such project is the Project in Georgia.
We’ve now got some Mo going with: California solar loan financing that will eliminate the big up front cost of solar. SOLAR FINANCING – WHO GETS IT AND WHO DOESN’T. The loans are financed through the sale of assessment district bonds. Oil that is, black gold, Texas tea. It’s a slam dunk.
Decreasing Dependence on Foreign Oil. Section 4122 allows state and local governmental entities to issue tax credit bonds in order to finance natural gas vehicle projects. Allows 50% of the cost to be expensed for a facility placed in service after 31 December 2014 and before 1 January 2020.
During 2014, the global plug-in electric vehicle (PEV) industry is poised to grow by 86% and will surpass more than 346,000 new vehicles sold, according to a new white paper—“ Electric Vehicles: 10 Predictions for 2014 ”—published by Navigant Research. Nonetheless, 2014 may be a breakout year for e-motorcycles.
Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. by Cyril Widdershoven for Oilprice.com.
If You’re a Free Range Oil Producer. Despite low oil prices, Saudi Arabia is maintaining its investment in its oil industry. Of this, the Saudi government will finance $239 billion, while private investors will finance $79 billion, as well as investments in refining (which it does not specify). percent to $38.1
Oil and gas companies have had a tough time over the past year trying to weather the storm of falling oil prices. Drilling oil and gas wells requires a lot of money. For companies that have seen their revenues vanish because of collapsing oil prices, access to credit is obviously critically important. billion in 2014.
Environmentalists and industries resurrected the idea in recent years as a centerpiece of measures to address global warming and growing oil imports. The total amount of pollution allowances sold may not exceed 188 million tons per year through 2014. After 2014, the amount of allowances shrinks gradually by 2.5
Putin has highlighted on various occasions the contribution Russia’s mineral wealth, in particular oil and natural gas, must make for Russia to be able to sustain economic growth, promote industrial development, catch up with the developed economies, and modernize Russia’s military and military industry. percent of GDP in 2014.
The report, “ Renewable Power Generation Costs in 2014 ”, concludes that biomass, hydropower, geothermal and onshore wind are all competitive with or cheaper than coal, oil and gas-fired power stations, even without financial support and despite falling oil prices. Real weighted average cost of capital is 7.5% Source: IRENA.
Ford has been working with Carbon 3D since December 2014, and has produced elastomer grommets for the Ford Focus Electric and damping bumper parts for the Transit Connect. The vehicle’s design created an unreachable oil filler cap because the engine sat lower and farther back under the hood.
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