Remove 2015 Remove Building Remove Oil Remove Production
article thumbnail

Oil price tumbles after OPEC releases 2015 forecast

Green Car Congress

The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude and stagnant economies in China and Europe, according to OPEC’s latest forecast. OPEC’s monthly report said demand for the cartel’s oil will fall to 28.9 Abhishek Deshpande, an oil market analyst at Natixis, agreed.

article thumbnail

Neste Jacobs to build SunPine’s Tall Oil Rosin production facility; feedstock for renewable diesel

Green Car Congress

Technology, engineering and project management company Neste Jacobs and SunPine, producing biochemicals and feedstock for second-generation renewable fuels, have signed an agreement for Neste Jacobs to perform EPCM services to construct a Tall Oil Rosin production facility in Piteå, Sweden. Earlier post.). Earlier post.).

Oil 218
article thumbnail

Neste Oil building pilot plant to produce waste-based microbial oil for NExBTL renewable diesel fuel; commercial production possible by 2015

Green Car Congress

Neste Oil will build a pilot plant to produce waste-based microbial oil at its Porvoo refinery. It will be the first pilot plant in Europe designed to produce microbial oil for use in manufacturing renewable fuel from waste-based raw materials. Earlier post.) million).

Oil 199
article thumbnail

IEA March Oil Market Report revises 2015 demand forecast upward

Green Car Congress

out in the second quarter of 2014, global oil demand growth has since steadily risen, with year?on?year mb/d for the current quarter, according to the IEA Oil Market Report for March. IEA raised its forecast of demand growth for all of 2015 by 75 kb/d to 1.0 expected US crude supply, raising the 2015 North American outlook.

2015 150
article thumbnail

ExxonMobil to proceed with $9B Payara development offshore Guyana

Green Car Congress

Payara is the third project in the Stabroek Block and is expected to produce up to 220,000 barrels of oil per day after startup in 2024, using the Prosperity floating production, storage and offloading (FPSO) vessel. The $9-billion development will target an estimated resource base of about 600 million oil-equivalent barrels.

Guyana 418
article thumbnail

Kinder Morgan, Imperial Oil to build Edmonton crude oil rail terminal; $270M investment

Green Car Congress

Kinder Morgan Energy Partners L.P.and Imperial Oil formed a 50-50 joint venture to build a crude oil rail-loading facility in Strathcona County, Alberta, called the Edmonton Rail Terminal. Accessing new and existing markets is critical for our continued growth and responsible development of Canada’s oil sands.

Oil 231
article thumbnail

Technip signs agreement with BTG Bioliquids to design and build pyrolysis plants for biomass-to-oil production

Green Car Congress

The plants will be based on BTL’s Fast Pyrolysis Oil (FPO) technology which converts biomass to oil through a rapid pyrolysis process. The fast pyrolysis technology mixes biomass particles and hot sand in a reactor which transforms the material into pyrolysis oil.

Oil 150