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IHS Markit: global oil demand still growing in the short term despite increasing focus on EVs

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Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider. Source: IHS Markit 2018. —Spencer Welch.

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New inventory of black carbon emissions from China finds 2007 levels higher than previously reported

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for year 2007. A new black carbon (BC) emissions inventory from China found BC emissions levels in 2007 of 1,957 Gg BC—higher than reported in earlier studies. Comparison of relative contributions from various sources to total BC emissions between China and other countries/regions including India, North America, and Africa.

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Neste Oil starts up its new renewable diesel plant in Singapore

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Neste Oil has started up the world’s largest renewable diesel plant in Singapore. The plant was completed on-schedule and on-budget and marks a major step forward in Neste Oil’s clean traffic fuel strategy. The main markets for NExBTL diesel are Europe and North America. NExBTL plant in Singapore.

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Grand opening of Neste Oil renewable diesel plant in Singapore; ISCC certification

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Neste Oil celebrated the grand opening of its ISCC-certified renewable diesel plant in Singapore. It uses a variety of renewable feedstocks to produce NExBTL, including palm oil and side stream products of palm oil production from Indonesia and Malaysia, as well as waste animal fat from Australia and New Zealand.

Singapore 186
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Neste Oil holds grand opening of Europe’s largest renewable diesel refinery in Rotterdam

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Neste Oil celebrated the grand opening of its NExBTL renewable diesel refinery in the Port of Rotterdam. The facility is capable of using Neste Oil’s wide feedstock base consisting of a variety of vegetable oils, by-products of vegetable oil refining (e.g. Earlier post.)

Oil 199
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China Investment Corp. and Penn West To Form Oils Sands JV

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Under the terms of the agreements to be executed at closing providing for the formation of the Joint Venture, Penn West will contribute the oil sands assets, valued at approximately C$1.8 Headquartered in Beijing, CIC was founded in September 2007, as a wholly state-owned company incorporated in accordance with China’s Company Law.

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EIA 2035 reference case projects drop in US imports of petroleum due to modest economic growth, increased efficiency, growing domestic oil production, and biofuels

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Under the Reference case, domestic crude oil production is expected to grow by more than 20% over the coming decade; already, domestic crude oil production increased from 5.1 million barrels per day in 2007 to 5.5 Over the next 10 years, continued development of tight oil (e.g., million barrels per day in 2010.

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