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Casterra to sell castor seeds for cultivation to leading oil and gas company; $9.1M initial purchase

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signed a framework agreement to sell seeds of its proprietary castor varieties to one of the world’s leading oil and gas companies for cultivation in specific African territories. Casterra’s high-yield, high-oil castor seed varieties are optimized for biofuel production to support the growing market of sustainable energy.

Oil 276
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Future Fuel Strategies: 40+ countries developing light-duty vehicle fuel economy standards

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Fuels market analyst Tammy Klein notes that more than 40 countries are developing light-duty vehicle fuel economy standards. Ten years ago, only four governments 10 years ago had introduced mandatory GHG emission and/or fuel economy standards: China, Japan, South Korea, and the United States.

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Nigeria’s 650 kbpd Dangote Refinery being commissioned; largest single-train refinery in world

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The Dangote Petroleum Refinery, which covers an area of approximately 2,635 hectares—about the six times the size of Victoria Island in Lagos, Nigeria—is expected to be Africa’s largest oil refinery and the world’s largest single-train facility. Nigerian crude oil is also rich in paraffins.

Nigeria 259
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Occidental to acquire direct air capture technology company Carbon Engineering for $1.1B

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Carbon Engineering’s DAC-based climate solutions utilize standardized processes and proven industrial equipment. Carbon Engineering’s personnel will continue to drive ongoing DAC technology development efforts and work closely with the Occidental and 1PointFive teams to bring DAC solutions to market. Earlier post.)

Carbon 150
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BASF to start up new FCC catalysts testing and research lab in Germany; addressing the impact of the North American tight oil market

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After the gas oil is cracked via the catalyst, the resulting effluent is separated based on various boiling points into several intermediate products, including butane and lighter hydrocarbons, gasoline, light gas oil, heavy gas oil, and clarified slurry oil.

Oil 210
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USGS new estimates of global undiscovered, technically recoverable conventional oil and natural gas, excluding US

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USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources of the world. These new estimates are for conventional oil and gas resources only. Geological Survey (USGS) released today. —USGS Director Marcia McNutt. The US imported approximately 11.4

Oil 218
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Fuel economy measures could cut Commonwealth countries’ cumulative oil bill by US$3.2T through 2050

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Commonwealth countries can cut their cumulative oil bill by £2 trillion (US$3.2 Member countries come from six regions: Africa (19); Asia (8); the Americas (3); the Caribbean (10); Europe (3); and the South Pacific (11). The Commonwealth is home to two billion people. The association has roots as far back as the 1870s.