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Athabasca Oil Sands sells remainder of interest in MacKay River oil sands project to PetroChina for C$680M; PetroChina to be full owner of project

Green Car Congress

Athabasca Oil Sands Corp. has exercised its option to divest its 40% interest in the MacKay River oil sands project to Cretaceous Oilsands Holdings Limited, a wholly owned subsidiary of PetroChina International Investment Limited, for C$680 million (US$672 million) in cash. Earlier post.) Earlier post.). properties.

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ExxonMobil Outlook: 35% growth in energy demand by 2040; hybrids to account for ~50% of new vehicle sales

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By 2040, hybrids are expected to account for about 35% of the global light-duty vehicle fleet, up from less than 1% in 2010. In 2010 China had only about five light-duty vehicles per 100 people, while India had less than two per 100 people; this compares to about 75 vehicles for every 100 people in the United States. Click to enlarge.

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IEA: global map of oil refining and trade to be redrawn over next 5 years

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Profound shifts in the regional distribution of oil demand and supply growth will redefine the refining industry and transform global oil trade over the next five years, according to the annual Medium-Term Oil Market Report (MTOMR) released by the International Energy Agency (IEA). The oil market is at a crossroads.

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BASF to start up new FCC catalysts testing and research lab in Germany; addressing the impact of the North American tight oil market

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The catalyst is a sand-like material made fluid by the hot vapor and liquid fed into the FCC. The slurry oil can be blended with residual fuel oil or further processed in the coker. This carbon, known as catalyst coke, adheres to the catalyst, reducing its ability to crack the oil.

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Increase in US rig count will not cap oil prices

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The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. by David Yager for Oilprice.com.

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The technology behind Ford’s Lightweight Concept Vehicle; prospects for Mach-II with 50% mass reduction difficult

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The propulsion materials area works closely with other VTO technology areas to identify and meet requirements for materials needed to develop cost-effective, highly efficient, and environmentally friendly next-generation heavy and light duty power-trains. How light could you make vehicles? … Click to enlarge.

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Chevrolet introduces new Cruze; new 1.4L EcoTec turbo, new 1.6L diesel coming to US in 2017

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Cruze sales in the US in 2014 were 273,060 units —a 10% increase over 2013. 2014 Ecotec 1.4L Variable-flow oil pump enhances efficiency. Piston-cooling oil jets contribute to optimal performance, efficiency and refinement. That helps ensure the oiling system maintains full pressure during extreme driving conditions.

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