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signed a framework agreement to sell seeds of its proprietary castor varieties to one of the world’s leading oil and gas companies for cultivation in specific African territories. Initial purchase orders, valued at an aggregate of $9.1 of the current world demand for non-fossil oil for biodiesel. Casterra Ag Ltd. ,
Purchase and importation into Venezuela of goods or inputs related to the activities described in this general license, including diluents, condensates, petroleum, or natural gas products. from receiving profits from the oil sales by Chevron. This authorization prevents PdVSA (Petróleos de Venezuela, S.A.) Chevron also holds a 25.2%
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.
Neste Oil, the world’s largest producer of renewable diesel (NExBTL), has signed a contingent commercial off-take agreement with Cellana, an algae biomass developer based in the United States. The agreement will enable Neste Oil to purchase Cellana’s algae oil for use as a feedstock in the future for producing renewable fuel.
NEXT) and Shell Trading (US) Company (Shell) have entered a long-term purchase and sale agreement for the purchase of renewable diesel from NEXT’s planned Port Westward, Oregon facility. NEXT Renewable Fuels , Inc.
The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. There are now 1,590 active oil rigs, the lowest level in six weeks. 17, compared to the prior week.
a Canadian mid-stream company, and Kinder Morgan Energy Partners formed a 50-50 joint venture to build a crude oil rail loading facility in Edmonton, Alberta, called the Alberta Crude Terminal. Keyera Corp., Kinder Morgan is proposing to construct a 16-inch pipeline to connect its North 40 Edmonton Terminal to Keyera’s Edmonton Terminal.
Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “ —Gabriel Collins.
through a subsidiary, has purchased Alon Bakersfield Properties, Inc., The total cash consideration paid to Delek US Holdings for the purchase was $40 million. Alon Bakersfield Refinery is an existing oil refinery located in Bakersfield, California. Global Clean Energy Holdings, Inc., a subsidiary of Delek US Holdings, Inc.
Aemetis announced that its Universal Biofuels subsidiary in India, owner and operator of a biodiesel plant located near the Port of Kakinada on India’s east coast, was selected by the three government-controlled oil marketing companies (OMCs) and a major oil refiner to supply approximately 8,000,000 gallons of biodiesel over the next two months.
Each year, NTEA conducts a comprehensive Fleet Purchasing Outlook Survey to better understand the commercial vehicle landscape, including interest levels for advanced truck technologies and alternative fuels. It is highly likely that clean energy solutions will remain relevant due to oil price instability.
The plant will no longer produce fuels from crude oil, but instead will make fuels from used cooking oil, fats, greases and soybean oils. The Santa Maria facility in San Luis Obispo County that currently provides crude oil feedstocks to the Rodeo facility will be idled and decommissioned. Earlier post.).
With the conventional lubrication Prelube I (left), one gram of oil is applied over every square meter of sheet steel. grams of oil are required for every square meter. The new oil class creates a protective film on the surface of a metal sheet that is thicker and does not run off. grams of conventional oil.
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.
Crude palm oil is one of the more than ten renewable raw materials that Neste uses to produce a range of renewable products, including renewable diesel. Palm oil represents approximately 20% of Neste’s renewable raw material usage annually. Increased pressure is created as the belt passes over rollers which decrease in diameter.
GlobalData research shows that lower oil prices as a result of the COVID-19 crisis could reduce electric vehicle demand and impair EU efforts to significantly reduce average new vehicle CO 2 emissions in the European car market. —Mike Vousden, Automotive Analyst at GlobalData.
ExxonMobil and Global Clean Energy have expanded their five-year agreement to increase ExxonMobil’s purchase of renewable diesel to up to 5 million barrels per year. The original agreement signed in August 2020 committed ExxonMobil to purchase 2.5 Earlier post.). million barrels of renewable diesel per year.
Global Bioenergies has received 13 letters of intent from French and international industrial leaders for purchases totaling 49,000 to 64,000 tons of isobutene and derivatives annually. This covers the total production capacity of the planned IBN-One plant, a joint venture with Cristal Union, the fourth-largest sugar producer in Europe.
KLM has purchased sustainable aviation fuel (SAF) for flights out of Amsterdam Airport Schiphol. The sustainable fuel is produced by Neste from used cooking oil and will reduce CO 2 emissions by up to 80% compared to fossil kerosene. Furthermore, Neste is joining KLM’s Corporate BioFuel Program.
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. Exxon Mobil Corporation added 2.7 Resource Base.
Advanced countries were still spending some $800 billion per year to support purchases of fossil fuel products and services, versus $140 billion for all subsidies worldwide on renewable power generation. 5 consumer of oil,” Krane said. Costs ranged from a low of 0.3% Subsidies remained sticky outside the G20 as well.
Fulcrum BioEnergy, a clean energy company pioneering the creation of renewable, drop-in transportation fuels from landfill waste, successfully produced a low-carbon synthetic crude oil using landfill waste as a feedstock at its Sierra BioFuels Plant, the world’s first commercial-scale landfill waste-to-fuels plant.
Bio-hydrogen not utilized for renewable diesel production will be made available by Grön Fuels for purchase by third parties for lowering the CO 2 emissions of power production, industrial processes, or transportation and can be shipped by the ~600 miles / 1,000 km of hydrogen pipelines operational and located near Grön Fuels’ site.
Hochrad purchased his first hybrid car more than 15 years ago, and over the years has driven dedicated electric vehicles as well. NEXO can be leased for $399 (Blue model) or $449 (Limited model) for 36 months and can be purchased for $58,300. His new NEXO will deliver about five times the driving range of his first all-electric car.
gasoline demand would have put upward pressure on world oil prices. Second, the full effects of fuel economy improvements are conditional on how consumers value fuel economy in their vehicle purchase decisions and whether the improvements made have been cost effective or not.
The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. sanctions on Iranian oil. Iran, OPEC’s third-largest producer, is trying to convince its oil customers to continue buying Iranian oil despite stringent U.S. sanctions kick in.
Boqiang Lin and Wei Wu have put forward an electric vehicle purchasing intention model based on a review of the literature and their survey in Beijing, Shanghai, Guangzhou and Shenzhen. China’s motor vehicle already consume nearly 40% of the oil used in China. Their paper appears in the journal Energy Policy. —Lin and Wu (2017).
The study considers five different powertrains (internal combustion engine, hybrid-electric, plug-in hybrid-electric, fuel-cell-electric, and battery-electric) and 12 cost components (purchase cost, depreciation, financing, fuel, insurance, maintenance, repair, taxes, registration fees, tolls and parking, payload capacity and labor).
In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. The Saudis obviously miscalculated the degree to which their shift would negatively impact oil prices.
This is a landmark step in revitalizing our aging fleet and replacing expensive internal combustion engine vehicles with cutting-edge EV technology, all while reducing our dependence on oil and saving Indianapolis taxpayers thousands in fuel costs each year.
Vulcan Energy Resources, which intends to produce a battery-quality lithium hydroxide chemical product from a combined geothermal energy and lithium resource ( earlier post ), will purchase 3D seismic and drilling data from Rhein Petroleum GmbH. The 3D seismic data consists of two surveys totalling 315 km 2.
US-based biotech startup Amfora and CSIRO (Commonwealth Scientific and Industrial Research Organisation, the federal government agency for scientific research in Australia) signed an agreement to advance development and commercialization of technology to produce oil in the leaves and stems of plants as well as the seeds. Source: CSIRO.
In the Reference case, petroleum and other liquids (mainly motor gasoline and distillate fuel oil) are the primary fuels consumed in the US transportation sector. Onsite electricity generation, primarily from solar photovoltaics (PV), grows faster than purchased grid electricity for buildings through 2050. Source: U.S.
Shell will then purchase high-quality, independently verified carbon credits to compensate for carbon emissions which are not currently being avoided or reduced. Using more recycled content in product plastic packaging, in support of Shell’s ambition of reaching 30% PCR use by 2030.
Tesla replaced the mechanical oil pump in the rear AC-induction drive unit with an electric oil pump that optimizes lubrication independent of vehicle speed to reduce friction. Purchase price for the Model S Long Range Plus is $74,990. The newest 8.5 Increased drive unit efficiency. Potential incentives can lower that price.
Goldman Sachs is preparing for the lapse of the Age of Oil, predicting big gains for the companies that continue to help expand the footprint of sustainable energy. However, Tesla isn’t the only car company that is listed , and cars are not the only topic that Goldman analysts are bullish on as the Age of Oil begins its imminent demise.
a nationwide distributor of propane, fuel oil and related products and services, as well as a marketer of natural gas and electricity, is purchasing a 39% stake in Oberon Fuels, a San Diego, CA-based development-stage producer of low-carbon, renewable dimethyl ether (rDME) transportation fuel. Suburban Propane Partners, L.P.,
The Department of the Interior awarded an initial $560 million from the Bipartisan Infrastructure Law to 24 states to begin work to plug, cap and reclaim orphaned oil and gas wells. Pennsylvania. West Virginia. Wyoming. **.
The largest portion of transportation expenditures was for vehicle purchases. Gasoline and motor oil, public transportation, and other vehicle expenditures such as maintenance, repairs, insurance, etc. Transportation expenditures were second only to housing (33%). were also included in the transportation category. Source: DOE.
The Chicago Transit Board awarded a $32-million contract to Proterra for the purchase of 20 new, all-electric buses. The two electric buses currently in operation have saved CTA more than $24,000 annually in fuel costs, and $30,000 annually in maintenance costs, when compared to diesel buses purchased in 2014.
JetBlue announced a ten-year renewable jet fuel purchase agreement with SG Preston , a bioenergy company. The airline will purchase renewable jet fuel made from rapidly renewable, bio-based feedstocks that do not compete with food production. The fuel will consist of 30% renewable jet fuel blended with 70% traditional Jet-A fuel.
Rental-car giant Hertz has announced several large-scale electric vehicle purchases from Tesla, GM, and Polestar, on the way to making EVs a quarter of its fleet by the end of 2024. That’s a lot of EVs—tens of thousands of them, and once in place they would quickly overwhelm existing public fast-charging stations around airports.
will construct the Diamond Pipeline, a 440-mile (708 km), 20-inch crude oil pipeline that will provide capacity of up to 200,000 barrels per day of domestic sweet crude from the Plains Cushing, Okla. Valero holds an option until January 2016 to become a partner in the Diamond Pipeline and purchase a 50% interest.
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