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3 Oil Majors That Bet Big On Renewables

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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com.

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EIA expects continued high prices for diesel and home heating oils

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The US Energy Information Administration (EIA) expects that low inventories of distillate fuels, which are primarily consumed as diesel fuel and heating oil, will lead to high prices through early 2023. We expect notable decreases in electricity generation from natural gas and coal next year. EIA forecasts Russia will produce 9.3

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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. In 2002, Suncor partnered with Enbridge to build one of the first renewable.

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BMW testing HVO100 renewable diesel for parts delivery in Germany

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BMW is testing the use of renewable HVO100 renewable diesel for parts delivery in Germany. HVO100 (100%, or neat, renewable diesel) is made from various waste products, residues and renewable raw materials, including used cooking oil. Electric trucks are already operating at BMW Group Plant Munich.

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Phillips 66 applies for LCFS pathway for renewable diesel with CI of 25.46 gCO2e/MJ

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Phillips 66 Company has applied for a California Low Carbon Fuel Standard (LCFS) Tier 2 fuel pathway for Renewable Diesel derived from distiller’s corn oil which is processed along with soybean oil and canola oil at its facility in Rodeo, California.

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.

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Phillips 66 files LCFS pathway applications for renewable gasoline, CIs from 30.9 to 63.4 gCO2e/MJ

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Phillips 66 Company has applied for three California Low Carbon Fuel Standard (LCFS) Tier 2 fuel pathways for renewable gasoline derived from soybean oil and canola oil. Phillips 66 also filed a separate application for renewable gasoline derived from distiller’s corn oil which is processed along with soybean oil and canola oil.

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