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The government of Jordan and the Saudi Arabian Corporation for Oil Shale (SACOS) recently signed a $2-billion agreement under which the government grants the Saudi company the right to extract and to develop the oil shale resources in the Attarat Um-AL-Ghudran region covering an area of 11 square kilometers.
India’s state-run Oil and Natural Gas Corp (ONGC) said that oil output from the Sakhalin-1 project in Russia has returned to a plateau level of 190,000 - 200,000 barrels per day (bpd) from zero. In April 2023, Russia’s Rosneft offered dividend payments to OVL against its 20% stake, rather than equity oil.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued Venezuela General License (GL) 41 , authorizing Chevron Corporation to resume limited natural resource extraction operations in Venezuela. from receiving profits from the oil sales by Chevron. Chevron currently holds a 39.2% Chevron also holds a 25.2%
an oil sands exploration and development company operating in the state of Utah, announced the successful operation of its oil sand recovery pilot facility. American Sands is developing its oil sands operation outside of Price, Utah, where it currently has rights to more than 2,000 acres of oil sand deposits.
American Commercial Lines (ACL) will begin transporting crude oil by barge on the US inland waterways for MEG Energy (US) Inc. MEG Energy), a subsidiary of the Canadian oil sands company MEG Energy Corp. a subsidiary of Exxon Mobil Corporation, to expand its fleet of 325 tank barges to meet mid-range demands.
Despite the decision to de-emphasize microbial oil, Neste Oil emphasized that cellulosic waste will continue to play an important role in its research strategy, adding that it remains committed to its goal of further extending its feedstock base and making greater use of waste and residues in this area in particular.
Toyo Engineering Corporation and?Irkutsk Irkutsk OilCompany (IOC), Japan Oil, Gas and Metals National Corporation (JOGMEC), and Itochu Corporation are partnering on a joint feasibility study of a blue ammonia value chain between eastern Siberia and Japan.
John Hofmeister, former President of Shell OilCompany and founder and CEO of Citizens for Affordable Energy (CFAE), is joining the Fuel Freedom Foundation (FFF) Advisory Board. There will not be enough oil to stay on the path we’re on globally over the short- and medium-, let alone the long-term. We need a competitor for oil.
Argentina state-owned energy company YPF and Bridas, an Argentina-based oil and gas company 50% owned by China National Offshore OilCorporation, agreed to invest $1.5 While most of the development is targeting unconventional oil will, a portion will be for wet gas exploitation. of Bandurria.
Shell is ready to invest several hundred million dollars in emerging technology companies, with the aim to accelerate the deployment of innovations that add value to the company’s operations. As well as promising technology companies, Shell is looking to invest in technology spin-outs and externally-managed venture capital funds.
Sapphire Energy has entered into a commercial agreement with Tesoro Refining and Marketing Company, LLC, a subsidiary of Tesoro Corporation. This begins the first step of a commercial relationship to process Green Crude oil from Sapphire’s future commercial facilities.
Jordan’s Council of Ministers on Sunday endorsed all agreements prepared by the national electricity company with Estonian company Enefit which will carry out a mega oil shale energy project in the Kingdom. billion project, which will be the largest oil shale venture in the region and the world. Earlier post.).
Neste Oil—the world’s largest producer of renewable diesel—has launched the commercial production and sales of renewable naphtha for corporate customers; the company is one of the first to supply bio-naphtha on a commercial scale. vegetable oils) to green fuels (the core of the NExBTL process), Sotelo-Boyás et al.
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. Repeated investment activities on the same company were counted as multiple. Click to enlarge.
BluE Nexus Corporation, AISIN CORPORATION, and DENSO Corporation jointly developed an eAxle for Toyota’s new battery-electric bZ4X. Earlier post.) BluE’s first eAxle has achieved excellent dynamic performance and downsizing and helps vehicles increase their electric mileage.
TDK Corporation subsidiary TDK Ventures Inc. has invested in AutoFlightX , an electric vertical take-off and landing (eVTOL) air mobility company. AutoFlightX is an eVTOL air-cargo and air-taxi company headquartered in Munich, with R&D centers in Shanghai and Shenzhen, China. V600 prototype unveiled at Aero Friedrichshafen 2019.
Neste Oil Singapore Pte Ltd and National Oxygen Pte Ltd (NOX), one of the one of the largest industrial gas manufacturers in Singapore, have signed an agreement to install a carbon dioxide recovery and liquefaction plant at Neste Oil’s renewable diesel (NExBTL) refinery in Singapore.
Exxon Mobil Corporation added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. billion oil-equivalent barrels at year-end 2017. During 2017, proved additions at Upper Zakum in Abu Dhabi totaled more than 800 million barrels of crude oil. Resource Base.
Anadarko Petroleum Corporation announced that its Shenandoah-2 well in the deepwater Gulf of Mexico encountered more than 1,000 net feet of oil pay in multiple high-quality Lower Tertiary-aged reservoirs. with a 20% working interest; Venari Resources LLC with a 10% working interest; and Marathon OilCompany with a 10% working interest.
What does it take to build up a new region for oil and gas development? But it is not as easy as just sticking a drill into the ground and pumping out oil and gas. Even with significant oil and gas reserves trapped in shale, a variety of factors need to come together to turn a given region into a significant producer.
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. ” The report was developed with input from 19 companies and organizations: Air Liquide; American Honda Motor Co., billion MMBTU per year.
ExxonMobil operates the Sakhalin-1 project on behalf of an international consortium of Japanese, Indian and Russian companies. In response to the situation in Ukraine, the company is beginning the process to discontinue operations and developing steps to exit the Sakhalin-1 venture. billion barrels of oil (307 million tons) and 17.1
Under California’s Low Carbon Fuel Standard (LCFS), crude oil producers may generate credits for oil that has been produced using innovative methods and delivered to California refineries for processing. Seneca Resource Corporation (Seneca) has applied for LCFS credits for producing crude oil using solar generated electricity.
Celanese Corporation, a global technology and specialty materials company, and Airborne Oil & Gas B.V., This multi-year alliance promises to further improve materials, systems and solutions that will meet the oil and gas industry requirements for harsh deepwater operations.
A combined team of engineers and technicians from Ad Astra Rocket Company and Cummins Power Generation have successfully powered a Cummins-built electrical generator using mixtures of hydrogen and biogas. kW renewable energy system being studied for potential commercialization by a combined team from Ad Astra Rocket Company, Cummins Inc.
Indian OilCorporation, India’s leading energy major, has entered into a memorandum of understanding (MOU) with LanzaJet to explore the development of sustainable aviation fuel (SAF) production in India. As a rapidly developing country, India’s energy transition will play a pivotal role in global energy markets.
As a result of discussions that began in May 2017, eleven companies in Japan have signed an agreement to form a new company in the spring of 2018 aimed at the full-fledged development of hydrogen recharging stations (HRS) for fuel cell vehicles (FCV). The initial partners include Toyota Motor Corporation; Nissan Motor Co.,
Element 1 Corporation (e1NA), Zhejiang Methanol Hydrogen Technology (ZMHT) and Zhejiang Element 1 (e1China) have formed a joint venture company—Zhejiang Hydrogen One Energy Technology Co., e1China, an affiliate company of e1NA will have a 20% ownership interest in the JV. Element 1 L/M-Series Hydrogen Generator.
According to the report, global VC funding (venture capital, private equity, and corporate venture capital) for Battery Storage, Smart Grid, and Efficiency companies in 2019 was 18% lower with $2.3 In 2019, VC funding into Battery Storage companies increased by 103% to $1.7 billion compared to $2.8 billion raised in 2018.
MAN Energy Solutions has signed a Conversion Commitment Agreement with Seaspan Corporation (Seaspan), a global leader in containership ownership and management in collaboration with Hapag-Lloyd, one of the leading global liner shipping companies. million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies.
In a bid to go Green, the Public sector Oil Marketing Companies (OMCs) of Tamil Nadu are going to set up 900 charging stations all over the state with the support of Indian OilCorporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation. The Public Sector OilCompanies.
China National Petroleum Corporation (CNPC) recently put its first hydrogen station in Beijing into operation. CNPC) is an integrated international energy company. Based in China, it has oil and gas assets and interests in more than 30 countries in Africa, Central Asia-Russia, America, the Middle East, Asia-Pacific, and other regions.
JGC Holdings Corporation and Cosmo OilCompany will use Honeywell Ecofining technology ( earlier post ) for the first commercial-scale sustainable aviation fuel project in Japan. This project is a new challenge for Cosmo Oil, which produces petroleum products derived from crude oil.
A subsidiary of Chevron Corporation signed an agreement with affiliates of the Argentine oilcompany YPF S.A. that furthers the development of shale oil and gas resources from the Vaca Muerta formation located in the Neuquén province. Earlier post.) The agreement calls for initial outlays of approximately $1.24
Toyota Motor Corporation (TMC) has developed a world-first technology for recycling the copper contained in wiring harnesses, in collaboration with Yazaki Corporation (Yazaki), Toyota Tsusho Corporation (Toyota Tsusho), and eight other companies. Sample vehicle wiring harness. Click to enlarge. Click to enlarge.
Argentina state-owned energy company YPF and Dow Chemical have signed a memorandum of understanding jointly to develop shale gas in the Vaca Muerta. In December, YPF and Bridas, an Argentina-based oil and gas company 50% owned by China National Offshore OilCorporation, agreed to invest $1.5 Earlier post.).
The Venezuelan state oilcompany, Petroleos de Venezuela, SA (PdVSA), has signed agreements with two major Indian energy companies, Reliance and OVL, for work in Venezuela’s Orinoco heavy oil belt. Reliance Industries Limited (RIL) and PDVSA signed a Joint Study Agreement for Ayacucho Block 8 in Orinoco Oil Belt.
VC funding in Battery Storage companies in 1H 2019 was up by 139% with $1.4 Total corporate funding (including venture capital funding, public market, and debt financing) for battery storage, smart grid, and efficiency companies in 1H 2019 was flat with $2.3 The increase was spurred by Northvolt’s $1-billion funding round.
Hyundai Motor Group will collaborate with the Saudi Arabian OilCompany (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.
Argentina offers one of the few places on earth where oilcompanies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices. per million Btu (MMBtu).
Westinghouse Electric Company and Bloom Energy Corporation have entered into a Letter of Intent to pursue clean hydrogen production in the commercial nuclear power market. The companies are teaming to identify and implement clean hydrogen projects across the nuclear industry. Earlier post.).
Itochu Corporation and Irkutsk OilCompany (IOC); Japan Oil, Gas and Metals National Corporation (JOGMEC); and Toyo Engineering Corporation (TOYO) have agreed to undertake a detailed study for the commercialization of a blue ammonia value chain between Eastern Siberia and Japan.
US oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending. That pushed companies to focus on wet gas and oil.
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