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DOE awards $8.4M for accessing geothermal potential from abandoned oil and gas wells

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million to establish new geothermal energy and heat production from abandoned oil and gas wells. This work also supports the creation of new clean energy jobs, helping transition some of the oil and gas workforce to the production of renewable energy. ICE Thermal Harvesting (Houston, TX). This program is part of the?Wells

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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. 2 Total SA.

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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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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). million barrels per day this year and 12.8

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Researchers develop large-scale, economical method to extract hydrogen from oil sands and oil fields

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Canadian researchers have developed a large-scale economical method to extract hydrogen from oil sands (natural bitumen) and oil fields. This can be used to power hydrogen-powered vehicles, which are already marketed in some countries, as well as to generate electricity. Proton Technologies is commercializing the process.

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Equinor Energy & Mitsubishi Heavy to collaborate on low-carbon technology to reduce carbon footprint of oil & gas operations

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The non-exclusive cooperation agreement will see both companies develop and use technology to reduce the carbon footprint of oil & gas operations. MHI has also further developed its advanced-class gas turbines to be capable of utilizing hydrogen, currently at 30%, and ultimately 100%.

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EIA forecasts US fossil fuel production to reach new highs in 2023

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After declining in 2020, the combined production of US fossil fuels (including natural gas, crude oil, and coal) increased by 2% in 2021 to 77.14 Of the total US fossil fuel production in 2021, dry natural gas accounted for 46%, the largest share. quadrillion British thermal units. US NGPL production increased by 4% in 2021.

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