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IEF, IHS Markit: deepening underinvestment in hydrocarbons raises specter of continued price shocks and volatility

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Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. —Joseph McMonigle, secretary general, IEF.

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Gulf oil giants Saudi Aramco, Adnoc set sights on lithium – ET Auto

Baua Electric

Saudi Arabia and the United Arab Emirates’ national oil companies plan to extract lithium from brine in their oilfields, in line with efforts to diversify their economies and profit from the shift to electric vehicles (EVs), three sources told Reuters. The kingdom has established its own EV brand Ceer, and built an EV metals plant.

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IEA: time to tap into hydrogen’s potential to play a key role in a clean, secure and affordable energy future

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In a major new report on hydrogen, the International Energy Agency says that the time is right to tap into hydrogen’s potential to play a key role in a clean, secure and affordable energy future. A wide variety of fuels are able to produce hydrogen, including renewables, nuclear, natural gas, coal and oil.

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Former president of Shell Oil calls for aggressive action on alternative fuels to break oil monopoly on transportation

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John Hofmeister, former President of Shell Oil Company and founder and CEO of Citizens for Affordable Energy (CFAE), is joining the Fuel Freedom Foundation (FFF) Advisory Board. CFAE’s mission is to educate citizens and government officials about pragmatic, non-partisan affordable energy solutions. “ It’s not going to happen.

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Yara Clean Ammonia and Bunker Holding to develop the market for ammonia as a shipping fuel

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This agreement connects two key elements of the supply chain needed to achieve the use of clean ammonia as a shipping fuel—a global supplier of clean ammonia and the largest bunker supplier today in terms of end users. Revenues and EBITDA for the full year 2022 were US$4.422 billion and US$249 million respectively.

Clean 195
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bp to invest up to $8B additional in transition growth engines by 2030, for cumulative $55-65B over 2023-2030

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It plans to increase its supply of biogas six-fold, underpinned by Archaea Energy, to up to 70,000 barrels of oil equivalent a day in 2030. by will also invest up to a cumulative $8 billion more into oil and gas by 2030—targeting short-cycle fast-payback opportunities with lower additional operational emissions.

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Kinder Morgan and Neste partner on major renewable fuels logistics project in US

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Upon completion of the project, Kinder Morgan’s Harvey, Louisiana facility will serve as the primary hub where Neste will store a variety of raw materials including, for example, the used cooking oil it collects from more than 40,000 restaurants across the United States. More than 1 million gallons of SAF have been supplied into SFO to date.

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