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

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6

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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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The $32-Trillion Push To Disrupt The Entire Oil Industry

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Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. by Cyril Widdershoven for Oilprice.com.

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Combustion-vehicle sales peaked in 2017, peak oil due in 2027

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The global market for internal-combustion vehicles peaked in 2017 and is now in "structural decline," Bloomberg New Energy Finance declared in a recent report. In 2017, 86 million internal combustion passenger vehicles were sold globally—including.

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IEA: COVID-19 crisis causing the biggest fall in global energy investment in history

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The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report.

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ExxonMobil to buy 2.5M barrels of renewable diesel per year for 5 years from Global Clean Energy

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ExxonMobil has signed an agreement with Global Clean Energy Holdings to purchase 2.5 As background, globally, in 2019, ExxonMobil sold some 1.9 million barrels per day of heating oils, kerosene and diesel oils. The US share of that was 449,000 barrels per day. The US share of that was 449,000 barrels per day.

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Global Bioenergies picks up new €1.4M financing for isobutene program; targeting Germany expansion

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France-based Global Bioenergies, the developer of a one-step fermentation processes for the direct and cost-efficient transformation of renewable resources into light olefins, has obtained new €1.4-million million) financing from Bpifrance on the isobutene program. —Marc Delcourt, CEO of Global Bioenergies. million (US$1.6-million)

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