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EIA: China processed record amounts of crude oil in 2021 but exported less gasoline and diesel

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China processed record amounts of crude oil in 2021 to meet rising domestic consumption of petroleum products, according to analysis by the US Energy Information Administration (EIA). According to China’s National Bureau of Statistics, China processed a record 14 million barrels per day (b/d) of crude oil in 2021, a 4.6%

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ABS grants Alfa Laval the marine industry’s first approval in principle (AIP) for firing boilers with methanol

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Maritime classification society the American Bureau of Shipping (ABS) has granted Alfa Laval the first marine approval for operating boilers on methanol. Alfa Laval offers a range of oil-fired and oil and exhaust gas-fired boilers for ships.

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OMV says it will stop oil and gas production by 2050 in transformation to net-zero

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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.

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Jordan signs $2B oil shale investment agreement with Saudi company

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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.

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BP awards Colorado State University $5M to research technology for oil recovery from watered-out wells

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Colorado State University has obtained a 5-year, $5-million grant from BP to study mechanisms involved with technology for oil recovery from “watered-out” wells. Typically, wells are abandoned after they are no longer producing oil or gas at a rate that is economically viable.

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DOE awards $165M GEODE grant to consortium to accelerate development of geothermal by leveraging oil and gas industry

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The grant will provide $10 million in the first year, which will fund the consortium members, in collaboration with more than 100 partner entities, to develop a roadmap to accelerate the growth and development of geothermal, leveraging expertise, technologies, and methods from the oil and gas industry.

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Goodyear determines soybean oil can reduce use of petroleum in tires

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Researchers at the Goodyear Tire & Rubber Company have found in their tests that using soybean oil in tires can potentially increase tread life by 10% and reduce the tiremaker’s use of petroleum-based oil by up to seven million gallons each year.

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