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Arctic oil on life support

Green Car Congress

Oil companies have eyed the Arctic for years. With an estimated 90 billion barrels of oil lying north of the Arctic Circle, the circumpolar north is arguably the last corner of the globe that is still almost entirely unexplored. Statoil, the semi-state-owned oil company from Norway, has been an offshore leader and Arctic pioneer.

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EIA: China’s use of methanol in liquid fuels has grown rapidly since 2000; >500K bpd in 2016

Green Car Congress

The report estimates consumption to have been more than 500,000 barrels per day (b/d) in 2016. Consumption of MTBE and other derivatives in China was estimated at 230,000 b/d in 2016. MTG units involve high capital costs and are only cost-competitive when oil prices are high.

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First Drive: 2016 Hyundai Sonata PHEV and HEV

Green Car Congress

Hyundai began the US rollout of the 2016 Hyundai Sonata Plug-in Hybrid Electric Vehicle (PHEV) ( earlier post ) and its conventional hybrid sibling (HEV) with a series of media drives in California—one of the main markets for the PHEV, which offers some 24 miles (38.6 The 2016 Sonata PHEV features a 9.8 kWh Li poly pack.

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BASF and Gazprom agree on asset swap; BASF’s Wintershall expanding production of oil and gas, exiting gas trading and storage business

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BASF and Russia’s Gazprom signed a legally binding basic agreement to swap assets of equivalent value. In October, Wintershall also substantially expanded its production and reserves of oil and gas in the North Sea through an asset swap with Statoil. billion barrel of oil equivalent. Start of production is planned for 2016.

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Velocys in strategic alliance with Morimatsu for modular, lower cost GTL and BTL plants

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Morimatsu is a Japanese fabrication and engineering firm with more than 70 years’ experience and expertise in the design, engineering and fabrication of modular processing facilities for oil and gas, petrochemical, fine chemical, pharmaceutical, power and metallurgical industries. Its revenues totalled US$700 million in 2016.

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Marathon acquires additional Eagle Ford Shale assets for $3.5B

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Marathon Oil Corporation has reached a definitive agreement with Hilcorp Resources Holdings, LP to purchase its assets in the core of the Eagle Ford shale formation in Texas in a transaction valued at $3.5 Production expected to increase to approximately 80,000 net boe per day by 2016. —Clarence P. Cazalot Jr.,

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California Air Resources Board readopts Low Carbon Fuel Standard, adopts regulation on alternative diesel fuels

Green Car Congress

The regulation puts in place a three-step process beginning in 2016 to create a path to bring cleaner diesel substitutes into the market. The average carbon intensity requirements for years 2016 to 2020 reflect reductions from revised base year (2010) CI values for CaRFG (98.47). [ The LCFS applies to liquid and non-liquid fuels.

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