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Austria-based OMV, an international, integrated oil, gas and chemicals company, announced its intention to become a net-zero (Scope 1, 2 and 3) company by no later than 2050. The gradual decline foresees a decrease in crude oil production by around 30% and natural gas production by around 15% by 2030.
Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com. 2 Total SA.
The Department of Energy’s (DOE’s) Office of Fossil Energy announced up to $88 million in federal funding for cost-shared research and development projects enhancing technologies for oil and natural gas recovery under two separate funding opportunity announcements (FOAs). billion barrels. surfactant, alkaline and polymer flooding).
“Blue” hydrogen—produced through steam methane reforming (SMR) of natural gas or coal gasification, but with CO 2 capture and storage—is being described as having low or zero carbon emissions. Our analysis assumes that captured carbon dioxide can be stored indefinitely, an optimistic and unproven assumption.
signed a new, two-year expanded joint-development agreement to further enhance carbonate fuel cell technology for the purpose of capturing carbon dioxide from industrial facilities. ExxonMobil is exploring options to conduct a pilot test of next-generation fuel cell carbon capture solution at one of its operating sites.
The Covid-19 crisis in 2020 triggered the largest annual drop in global energy-related carbon dioxide emissions since the Second World War, according to IEA data, but the overall decline of about 6% masks wide variations depending on the region and the time of year. But our numbers show we are returning to carbon-intensive business-as-usual.
Strategic Biofuels announced that its Carbon Capture and Sequestration (CCS) Test Well Program was successfully completed at the company’s Louisiana Green Fuels Project (LGF) in Caldwell Parish, Louisiana. Deep carbon negativity greatly increases the potential carbon credit revenues from our fuel and vastly improves the project’s returns.
Since the EU imposed sanctions on Russia in the wake of the invasion of Ukraine, there has been a redrawing of the global oil map, a new study by Transport & Environment (T&E) shows. Instead of cutting demand, Europe has simply replaced imports from Russia with oil from other producing countries. C carbon budget.
The US Environmental Protection Agency (EPA) is proposing comprehensive new regulations to reduce methane emissions from the oil and natural gas industry—including, for the first time, reductions from existing sources nationwide. Source: EPA. billion a year.
signed a framework agreement to sell seeds of its proprietary castor varieties to one of the world’s leading oil and gas companies for cultivation in specific African territories. Casterra’s high-yield, high-oil castor seed varieties are optimized for biofuel production to support the growing market of sustainable energy.
Texas-based fuel company Nacero ( earlier post ) will build its second low- and zero-carbon fuels plant in Newport Township, Pennsylvania. The new manufacturing facility will produce low- and zero-lifecycle carbon footprint gasoline blendstock made from natural gas and renewable natural gas.
Researchers at The Ohio State University have used a chemical looping process to produce hydrogen from hydrogen sulfide gas—commonly called “sewer gas”. Hydrogen sulfide is emitted from manure piles and sewer pipes and is a key byproduct of industrial activities including refining oil and gas, producing paper and mining.
These results indicate that coal and oil are the energy sources leading to most emissions, and that hydro, wind, and nuclear are the energy sources leading to least emissions. On the two extremes, coal and oil result in about 176 times the emissions from hydro. Natural gas 87.9 Natural gas 87.9 Natural gas 4.1
Despite oil demand in the transport sector forecast to half by 2050, the present pace of the transition still falls severely short of the goals of the Paris Agreement. Conversely, the consumption of oil within aviation will be virtually flat to 2050, with hydrocarbons set to have a 60% share in the sector in the same year.
The US Department of Energy (DOE) announced up to $32 million in funding ( DE-FOA-0002616 ) toward the research and development of new monitoring, measurement, and mitigation technologies to help detect, quantify, and reduce methane emissions across oil and natural gas producing regions of the United States.
Researchers in India are using multi-wall carbon nanotube-optimized surfactant-polymer flooding for enhanced oil recovery. In an open-access paper in the journal Fuel , they report that their experimental application of carbon nanotube-based fluids yielded an oil recovery factor of approximately 70% of the original oil in place.
Shell Aviation has introduced a new lifecycle sustainability approach for its AeroShell aviation lubricants to avoid, reduce and then compensate for lifecycle carbon emissions, improving aircraft performance while helping customers meet their net-zero greenhouse gas (GHG) or carbon emissions ambitions.
The global capacity for carbon capture in 2030 is set to increase sixfold from today’s level, to 279 million tons of CO 2 captured per year, according to research company BloombergNEF’s (BNEF) newly released 2022 CCUS Market Outlook. In 2021, some 73% of captured CO 2 went to enhanced oil recovery operations. of global emissions.
A new study by a team from Environmental Health & Engineering (EH&E) has found that greenhouse gas emissions from corn ethanol are 46% lower than those from gasoline—a decrease in emissions from the estimated 39% done by previous modeling. gCO 2 e/MJ) which is 46% lower than the average carbon intensity for neat gasoline.
Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9
Nacero has licensed Topsoe TIGAS (Topsoe Improved Gasoline Synthesis) technology for its multi-billion USD natural-gas-to-gasoline facility in Penwell, Texas to produce 100,000 barrels per day of gasoline component ready for blending into US commercial grades. The captured CO 2 will be used for enhanced oil recovery.
Gold Hydrogen is a novel source of carbon neutral hydrogen produced from depleted oil reservoirs that are ready for plug and abandonment, extending the life of wells that would otherwise be a significant burden. Cemvita Factory’s mission is to reimagine heavy industries such as oil & gas and mining for the net-zero economy.
of the methane encountered during oil production. of the methane in gas flares used by the oil and gas industry. During oil production, producers encountering pockets of methane typically use flare stacks to burn off the vented gas. The three-year, $2.9-million —Luis Gutierrez.
BMW i Ventures has invested in Prometheus Fuels ( earlier post ), a company removing CO 2 from the air and turning it into zero-net carbon gasoline that it will sell at gas stations, at a price that competes with fossil fuels, starting as early as this year. —Greg Smithies, Partner, BMW i Ventures.
Regulating carbon emissions from the oil and gas industry would allow the United States to reach its climate goals faster, argues a recent opinion piece by an oil industry veteran published in The Hill. carbon-dioxide (CO2) emissions come from burning oil and natural gas, and 1.4 Over 80% of U.S.
Every year, the California Air Resources Board (ARB) posts an Annual Crude Average carbon intensity calculation, using the the Oil Production Greenhouse Gas Emission Estimator (OPGEE) Model. Crude oil from California, Alaska and 11 countries account for 95% of the volume supplied to California in any given year.
A coalition of major oil & gas, power, automotive, fuel cell, and hydrogen companies have developed and released the full new report, a “ Road Map to a US Hydrogen Economy. ” For US transport, hydrogen is a strong low-carbon alternative. Demand potential across sectors, base and ambitious cases. million jobs by 2050. .;
Scientists from ExxonMobil, the Georgia Institute of Technology and Imperial College of London have published in the journal Science joint research on potential breakthroughs in a new membrane technology that could reduce emissions and energy intensity associated with refining crude oil.
Electrofuels innovator Infinium ( earlier post ) has entered into a strategic alliance with US independent energy company Denbury to collaborate on developing ultra-low carbon electrofuels projects in the state of Texas. MMBOE of estimated proved oil and natural gas reserves as of 31 December 2020, of which 98% is oil.
Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. —Joseph McMonigle, secretary general, IEF.
Hydrogen demand is currently concentrated in oil refining and ammonia production, but nearly 90% of projected demand growth through 2050 comes from new sectors like heavy-duty transportation, steel production, and long-term energy storage. According to S&P Global Commodity Insights’ hydrogen outlook, global hydrogen demand grows from 70.4
After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the COVID-19 pandemic reduces energy consumption across the global economies. The report shows that medium-term growth will come from increasing cost-competitiveness and increased global access to gas. Low-carbongas.
Hyundai Motor Group will collaborate with the Saudi Arabian Oil Company (Aramco) and King Abdullah University of Science and Technology (KAUST) jointly to research and develop an advanced fuel for an ultra lean-burn, spark-ignition engine that aims to lower the overall carbon dioxide emissions of a vehicle.
The plant will no longer produce fuels from crude oil, but instead will make fuels from used cooking oil, fats, greases and soybean oils. The Santa Maria facility in San Luis Obispo County that currently provides crude oil feedstocks to the Rodeo facility will be idled and decommissioned. Earlier post.).
California’s South Coast Air Quality Management District’s (South Coast AQMD) Clean Fuel Funds and Southern California Gas Company (SoCalGas) have awarded a combined $600,000 ($300,000 each) to Landi Renzo USA for Landi Renzo’s 7.3L Near-Zero natural gas engine development program, which covers Class 4-7 vehicles.
The California Air Resources Board last week approved the final proposed 2022 Scoping Plan ( earlier post ), a roadmap to reduce demand for petroleum by 94%, cut air pollution by 71%, reduce greenhouse gas emissions 85%, and reach carbon neutrality by 2045.
In the period 2016-2020, the port of Rotterdam reduced its total carbon emissions by 27%. of the Netherlands’ total carbon emissions: a share that several years ago was 16%. of the Netherlands’ total carbon emissions: a share that several years ago was 16%. Last year, Rotterdam’s power plants cut their carbon emissions by 1.9
billion) in Grangemouth, its integrated refinery and petrochemicals complex in Scotland, in the next phase of reducing greenhouse gas emissions to net zero by 2045. The fuel source will be mixed gas, sourced from within the Grangemouth Complex via pipe infrastructure.) INEOS will invest an additional £1 billion (US$1.4 Grangemouth.
While hydrogen is expected to play a critical role in reducing greenhouse gas emissions, at standard conditions, it is a flammable gas with low density and cannot be transported efficiently in a gaseous form. Honeywell recently committed to achieve carbon neutrality in its operations and facilities by 2035.
ExxonMobil is planning a hydrogen production plant and one of the world’s largest carbon capture and storage projects at its integrated refining and petrochemical site at Baytown, Texas, supporting efforts to reduce emissions from company operations and local industry. million tons per year.
Alon Bakersfield Refinery is an existing oil refinery located in Bakersfield, California. Historically, the refinery has produced diesel from crude oil and has a capacity of 70,000 barrels per day. GCEH will immediately commence retooling the refinery to produce renewable diesel from organic feedstocks such as vegetable oils.
Renewable diesel net supply to California’s fuel market has increased since the state’s Low Carbon Fuel Standard (LCFS) program went into effect in 2011, reaching 100 million gallons during the second quarter of 2018, or 10.1% As carbon intensity requirements have become progressively more stringent, prices for LCFS credits have increased.
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