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EIA: At least 9 new refinery projects to come online before end of 2023 in Asia and Middle East; 2.9 MMb/d

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In Asia and the Middle East, at least nine refinery projects are beginning operations or are scheduled to come online before the end of 2023, according to the US Energy Information Administration (EIA). In the International Energy Agency’s (IEA) June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0

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CNPC’s first hydrogen station in Beijing in operation

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As the first batch of pilot projects of CNPC in the new energy field, the hydrogen stations in operation lay a foundation for the company’s future extensive deployment of hydrogen stations and the construction of hybrid stations of oil, gas, electricity, and hydrogen. CNPC) is an integrated international energy company.

Hydrogen 300
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SGB cuts time to maturity with new hybrid Jatropha from 5 to 1-2 years; $11M Series C financing

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an agricultural biotechnology and seed company enabling the production of high quality, low-cost and sustainable plant oil, protein and biomass, announced success in its program to create hybrid Jatropha which has both high yield and rapid time to maturity. Jatropha oil can be used as a biofuel feedstock.

Financing 210
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BNEF: net-zero road transport by 2050 still possible, but big push needed

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The Long-Term Electric Vehicle Outlook outlines two scenarios for the uptake of electric transport to 2050, and examines impacts on demand for batteries, materials, oil, electricity, infrastructure and emissions. million barrels of oil demand per day. —Aleksandra O’Donovan, head of electric vehicles at BloombergNEF.

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BNEF: Net-zero transition potentially a $3.5T investment opportunity for Indonesia

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Under the NZS, Indonesia’s electricity demand is set to grow fivefold by 2050, as electricity accounts for a greater proportion of final energy demand, for example by replacing oil as road transport fuel. —Caroline Chua, BNEF’s Southeast Asia clean power lead analyst. trillion under the NZS.

Indonesia 195
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Elevance Renewable Sciences raises $100M in Series C Financing; Total Energy Ventures joins in

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which is commercializing olefin metathesis technology for renewable fuels and chemicals, has raised $100 million in its Series C financing round. Naxos Capital Partners led the round with additional new investors, including Total Energy Ventures International, joining TPG Biotech and TPG Growth in the financing. Earlier post.).

Financing 210
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Turkey begins work on $15B Canal Istanbul

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The Turkish Straits, which include the Bosphorus and Dardanelles waterways, divide Asia from Europe. Both waterways are located in Turkey and supply Western and Southern Europe with oil from Russia and the Caspian Sea region. Critics say it would destroy a marine ecosystem and endanger some of the city’s fresh water supply.

Turkey 243