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Chevron Confirms first oil production from deepwater Papa-Terra offshore Brazil

Green Car Congress

Chevron’s Brazilian subsidiary and Petrobras have started crude oil production from Papa-Terra’s floating production, storage and offloading vessel (FPSO) offshore Brazil. Papa-Terra has installed capacity to produce 140,000 barrels of heavy crude per day; the project is estimated to recover 380 million barrels of oil.

Chevron 261
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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

Green Car Congress

CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. It is the second-largest oil producer in the UK North Sea.

Oil-Sands 325
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BASF and Gazprom agree on asset swap; BASF’s Wintershall expanding production of oil and gas, exiting gas trading and storage business

Green Car Congress

Through the swap, BASF aims to further expand its production of oil and gas via its wholly owned subsidiary Wintershall —Germany’s largest internationally active crude oil and natural gas producer—and to exit the gas trading and storage business. billion barrel of oil equivalent.

Gas 218
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EIA forecasts 2023 global production of liquid fuels to exceed 101 MMb/d for first time

Green Car Congress

Energy Information Administration (EIA) increased its forecast for the 2023 Brent crude oil price by 2.5% This change came after OPEC and its partner countries (OPEC+) announced crude oil production cuts for 2023. Despite OPEC+ announcing it would cut crude oil production by 1.2 from its previous forecast.

Global 210
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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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Arbios Biotech forms global alliance with Shell Catalysts & Technologies; wood and post-consumer biomass to finished products

Green Car Congress

Arbios Biotech was formed to commercialize Licella’s Cat-HTR platform, a globally leading hydrothermal liquefaction (HTL) technology, for various forms of wood and post-consumer biomass around the world, particularly in North America, South America and Europe.

Global 221
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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

Green Car Congress

Global demand for refined products dropped substantially in 2020 as a result of the COVID-19 pandemic. Less petroleum demand and the associated lower petroleum product prices encouraged refinery closures, reducing global refining capacity, particularly in the United States, Europe, and Japan. million b/d in 2022 and by an additional 1.6

Global 448