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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

Green Car Congress

In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. President George W.

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Neste Oil and Renewable Energy Group enter into NExBTL license agreement

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With the disputes now resolved, REG and Neste Oil look forward to working together to grow and expand the renewable fuels and chemicals marketplace globally. REG became the owner of the former Dynamic Fuels facility in Geismar, Louisiana in June, 2014.

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Chevron announces “significant” oil discovery in deepwater Gulf of Mexico

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Chevron Corporation announced a significant oil discovery at the Anchor prospect in the deepwater US Gulf of Mexico. 2 encountered oil pay in multiple Lower Tertiary Wilcox Sands. Anchor is located approximately 140 miles (225 km) off the coast of Louisiana. Anchor co-owners are Cobalt International Energy, Inc. (20%),

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Obama Administration to offer 40 million acres in the Gulf of Mexico for oil and gas development

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Beaudreau announced that Interior will offer more than 40 million acres for oil and gas exploration and development in the Gulf of Mexico in March lease sales. Lease Sale 231 in the Central Planning Area and Lease Sale 225 in the Eastern Planning Area will be held consecutively in New Orleans, Louisiana, on 19 March 2014.

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EIA: planned capacity additions to US crude oil pipeline infrastructure should relieve Cushing bottleneck

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According to an analysis by the US Energy Information Administration (EIA), planned additions over the next two years to the US crude oil pipeline infrastructure should relieve the bottleneck at Cushing, Oklahoma which has been caused by the oversupply of oil resulting from the growth of crude oil production in the US mid-continent and Canada.

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Shell’s Cardamom development starts production; second major 2014 start-up in deep-water Gulf of Mexico

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Oil from the Cardamom subsea development (100% Shell) is piped through Shell’s Auger platform. When at full production of 50,000 barrels of oil equivalent a day (boe/d), Auger’s total production capacity will increase to 130,000 boe/d. The Cardamom reservoir sits beneath thick layers of salt in rock more than four miles (6.4

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NYC to use REG renewable diesel in more than 1,000 city vehicles, including many sanitation trucks

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Renewable diesel is a 100% hydrocarbon renewable fuel produced by hydrotreating fats and oils; it can be used in existing diesel engines without modification. The renewable diesel used by NYC will be produced domestically by Renewable Energy Group (REG) and will be distributed by Sprague Energy.

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