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IHS Markit says outlook for crude oil prices strengthens through 2021

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Oil markets have returned to relatively stable ground with Brent prices within a narrow $40-$45 per barrel range and could conclusively pass the $50 per barrel mark in the second half of 2021, according to Roger Diwan and the IHS Markit Energy Advisory Service. bbl in 2020 and $49.25/bbl bbl in 2021—up $7.09/bbl bbl and $5.25/bbl,

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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). in the United States this summer (June–August) compared with the summer of 2021. in the commercial sector. and by 1.5%

Oil 344
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Oxford Catalysts to supply 1,000 bpd commercial GTL plant

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with a commercial, 1,000 barrel-per-day (bpd) Gas-to-Liquids (GTL) plant to be located at its Karns City, Pennsylvania facility. Calumet is a specialty petroleum products manufacturer, operating 135,000 bpd of refining capacity in the United States, and producing some 1,500 different products.

Supplies 225
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Navigant Research forecasts 58% growth in global biofuels consumption by 2022; biodiesel and drop-in fuels gain market share

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In a new report, “ Biofuels for Transportation Market s”, Navigant Research forecasts that global demand for biofuels in the road transportation sector will grow from representing almost 6% of the liquid fuels market in 2013 to roughly 8% by 2022. Navigant projects the global biodiesel market will grow from 6.9

Global 231
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ICCT report finds expected surge in renewable diesel production could have damaging environmental impacts due to feedstock demand

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The International Council on Clean Transportation (ICCT) has released a report prepared by the consultancy Cerulogy that explores the potential market and environmental impacts of increased capacity for renewable diesel produced by hydrotreating oils and fats in the US. —“Animal, vegetable or mineral (oil)?”.

Renewable 243
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EPA announces 2011 Presidential Green Chemistry Challenge Awards; green chemistry market opportunity projected to be $98.5B by 2020, about 2% of total market

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The awards recognize pioneering chemical technologies developed by leading researchers and industrial innovators who are making significant contributions to pollution prevention in the United States. Separately, a new report by Pike Research forecasts that green chemistry represents a market opportunity that will grow from $2.8

Green 236
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ICCT suggests minor changes to Fed tax policy to cut higher investment risk of 2nd-gen biofuels and advance the industry

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Previous studies have attempted to explain the slow commercialization of cellulosic and algal biofuels qualitatively, however few have presented financial analysis across the sector, the authors observe. Over the last decade, the second-generation biofuels industry has struggled to reach commercialization. —Miller et al.

Tax 262