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Oil sands company Suncor Energy strengthens its focus on hydrogen and renewable fuels, divesting wind and solar

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Suncor Energy, a Canadian integrated energy company that is one of the top oil sands producers in the country, will strengthen its focus on hydrogen and renewable fuels to accelerate progress towards its objective to be a net-zero company by 2050. Suncor also plans to divest its wind and solar assets.

Oil-Sands 225
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EIA forecasts growing liquid fuels production in Brazil, Canada, and China through 2023

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The US Energy Information Administration (EIA) forecasts that liquid fuels production in Brazil, Canada, and China will increase this year and next, contributing to growth in overall non-OPEC petroleum production. The United States will account for about 60% of the growth in combined liquid fuels production in all non-OPEC countries.

Brazil 259
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Shell launches commercial operation of Quest carbon capture and storage in Alberta oil sands

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Using activated amine (ADIP-X), Quest will capture one-third of the CO 2 emissions from Shell’s Scotford Upgrader, which turns oil sands bitumen into synthetic crude that can be refined into fuel and other products. The CO 2 is a byproduct of the production of hydrogen, which is used to upgrade the bitumen.

Oil-Sands 150
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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6

Oil 261
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Canada and Norway to cooperate in energy resource development

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Minister Moe is visiting Canada; the Globe and Mail [link] that the Energy Minister is backing Canada in its fight with the European Union over a fuel-quality directive that discourages the use of oil sands bitumen, saying the world needs more Canadian crude production. Oil and gas. Renewable energy.

Norway 199
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Lux: nearly $7B in private investment in emerging oil & gas E&P technologies over last decade

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Investment into emerging oil and gas E&P (exploration and production) technologies, which were nearly non-existent in 2003, at just $57 million, have attracted nearly $7 billion in private investment from 497 unique transactions, according to a new report from Lux Research, “ Investing in Next Generation Oil and Gas Technologies ”.

Oil 210
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ExxonMobil Reserves Replacement in 2008 Was 103% of Production

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billion oil-equivalent barrels—the bulk of it from Canadian oil sands—replacing 103% of production. Excluding the impact of asset sales, reserves additions replaced 110% of production. Reserves additions from the Kearl Phase 1 oil sands project in Canada totaled 1.1 billion oil-equivalent barrels.

2008 150