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EIA forecasts 2023 global production of liquid fuels to exceed 101 MMb/d for first time

Green Car Congress

Energy Information Administration (EIA) increased its forecast for the 2023 Brent crude oil price by 2.5% This change came after OPEC and its partner countries (OPEC+) announced crude oil production cuts for 2023. Despite OPEC+ announcing it would cut crude oil production by 1.2 from its previous forecast.

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Arbios Biotech forms global alliance with Shell Catalysts & Technologies; wood and post-consumer biomass to finished products

Green Car Congress

Arbios Biotech was formed to commercialize Licella’s Cat-HTR platform, a globally leading hydrothermal liquefaction (HTL) technology, for various forms of wood and post-consumer biomass around the world, particularly in North America, South America and Europe.

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Chevron Confirms first oil production from deepwater Papa-Terra offshore Brazil

Green Car Congress

Chevron’s Brazilian subsidiary and Petrobras have started crude oil production from Papa-Terra’s floating production, storage and offloading vessel (FPSO) offshore Brazil. Papa-Terra has installed capacity to produce 140,000 barrels of heavy crude per day; the project is estimated to recover 380 million barrels of oil.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Green Car Congress

ExxonMobil Corporation announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. billion recoverable oil-equivalent barrels. Wood Mackenzie currently expects around 350,000-400,000 b/d of oil production (just oil, not factoring in natural gas) by 2026 from there.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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T&E study claims EU’s biofuels policy has wiped out forests the size of the Netherlands

Green Car Congress

This drove up demand for cheap crop-based biodiesel, such as palm and soy oil, which is mainly sourced from Asia and South America. Palm oil reached its highest level, capping a decade of growth that has seen palm oil consumption treble. The updated REDII, adopted in 2018, plots a path away from palm oil.

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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

Green Car Congress

CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. It is the second-largest oil producer in the UK North Sea.

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