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BP forming 50:50 biofuels JV with Bunge in Brazil; growing existing biofuels business >50%

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BP will combine its Brazilian biofuels and biopower businesses with that of Bunge to create a world-scale, highly-efficient producer of sugarcane ethanol in Brazil: BP Bunge Bioenergia. Brazil is the world’s second-largest and most integrated market for ethanol as a transportation fuel with demand forecast to grow rapidly.

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BNEF: cost of new renewables rises as inflation starts to bite

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The global benchmark levelized cost of electricity, or LCOE, has retreated to where it was in 2019. The cheapest renewable power projects in the first half of 2022 were able to achieve an LCOE of $19/MWh, as in best-in-class onshore wind farms in Brazil, and $21/MWh for tracking PV farms in Chile, and $57/MWh for offshore wind in Denmark.

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IEA: global CO2 emissions rebounded to their highest level in history in 2021; largely driven by China

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The rebound of global CO 2 emissions above pre-pandemic levels has largely been driven by China, where they increased by 750 million tonnes between 2019 and 2021. Change in CO 2 emissions by fossil fuel, relative to 2019 levels, 2019-2021. CO 2 emissions from natural gas rebounded well above their 2019 levels to 7.5

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Carinata now a listed feedstock for CORSIA HEFA Sustainable Aviation Fuels

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A recent update by The International Civil Aviation Organization (ICAO) now includes carinata as a renewable fuel feedstock for hydroprocessed esters and fatty acids (HEFA) sustainable aviation fuel (SAF) with a similar greenhouse gas (GHG) footprint as waste and residuals, such as used cooking oil, for the same fuel type. Data: ICAO.

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EPA proposes slight ease in 2018 renewable fuel volumes compared to 2017; gearing up for future reset

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Environmental Protection Agency (EPA) issued a proposed rule setting the minimum amount of renewable fuels that must be supplied to the market in calendar year 2018 under the Renewable Fuel Standards (RFS) program. The biomass-based diesel standard for 2019 would be maintained at the 2018 levels of 2.1 Proposed 2019.

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Talga raises US$19M to accelerate anode production; signs MoU with ABB to explore development and construction

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Combining a scalable battery anode production facility with integrated graphite mining operations, the project will be powered by 100% renewable electricity to supply ultra-low emission coated anodes for green lithium-ion batteries. Most of the world’s reserves are in China, with other key nations India and Brazil.

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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According to EIA’s January Short-Term Energy Outlook (STEO) , global liquid fuel consumption will exceed 100 million barrels per day, on average, in 2023 for the first time since 2019, then average more than 102 million barrels per day in 2024. Areas of uncertainty include Russian oil supply and OPEC production.