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Ensyn and Fibria establish strategic alliance for cellulosic fuels and chemicals in Brazil; Fibria to invest $20M in Ensyn

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have formed a strategic alliance that includes the establishment of an equally-owned joint venture for the production of cellulosic liquid fuels and chemicals in Brazil, as well as a US$20-million equity investment in Ensyn Corporation by Fibria. approx 75 wt%) of liquid bio-oil from residual forestry or agricultural biomass.

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WRI: global oil consumption hits all-time high

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between 2008 and 2009 due to the global financial crisis, global oil consumption recovered by 3.1% About one third of this growth came from China, which now uses more than 10% of the world’s oil. The United States, Brazil, Russia, and the Middle East accounted for an additional 48% of the increase. After falling 1.5%

Oil 287
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BP closes out 2013 with deepwater finds in Gulf of Mexico and offshore Angola; new activity offshore Brazil

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BP also confirmed the recently-announced Pitu oil discovery in the frontier deepwater of the Potiguar basin off Brazil’s equatorial margin, announced by Petrobras. The well, which penetrated multiple Paleogene-aged reservoir sands, was drilled to a total depth of 29,221 feet (8,907 meters). Click to enlarge. Click to enlarge.

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Annual global oil & gas capital expenditure to pass $1-trillion mark in 2012

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Increased activity in the Exploration and Production (E&P) sector will be the primary driver in pushing oil and gas capital expenditure (capex) to $1.039 trillion for 2012, according to the latest report by business intelligence firm GlobalData. GlobalData predicts Asia-Pacific to follow very closely with a capex of $253.1

Oil 210
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Statoil confirms connection between Aldous and Avaldsnes oil fields; possibly one of 10 largest oil finds ever on the Norwegian Continental Shelf

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Statoil has confirmed communication between the Aldous and Avaldsnes oil discoveries in the North Sea. In combination these discoveries may represent an oil structure of between 500 million and 1.2 billion barrels of recoverable oil equivalent. Norway has not seen a similar oil discovery since the mid-eighties.

Oil 231
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USGS new estimates of global undiscovered, technically recoverable conventional oil and natural gas, excluding US

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USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources of the world. These new estimates are for conventional oil and gas resources only. Geological Survey (USGS) released today.

Oil 218
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Canada Launches Heavy Oil Working Group to Promote Cleaner Fossil Fuels

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The Government of Canada has established a Heavy Oil Working Group. Comprising countries such as Canada, Brazil, Colombia, Mexico, the United States and Venezuela, the Heavy Oil Working Group will collaborate on clean energy research to reduce the impact of fossil fuel development. Minister Paradis. Minister Paradis.

Canada 170