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DOE awards $165M GEODE grant to consortium to accelerate development of geothermal by leveraging oil and gas industry

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The grant will provide $10 million in the first year, which will fund the consortium members, in collaboration with more than 100 partner entities, to develop a roadmap to accelerate the growth and development of geothermal, leveraging expertise, technologies, and methods from the oil and gas industry.

Oil 170
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Ukraine state oil and gas company signs $3.656B credit agreement with China Development Bank to finance substituting natural gas with coal

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The Ukraine state oil and gas company Naftogaz signed a US$3.656-billion credit agreement with the state-owned China Development Bank to finance the program of substituting natural gas with locally produced coal. The program is aimed at improving Ukraine’s energy security and alleviating dependence on foreign natural gas.

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“Project Volt Gas Volt” proposes long-term financing plan to support widespread implementation of power-to-gas systems

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Project Volt Gas Volt is based on a long-term financing plan and the use of existing technologies for the large-scale conversion of surplus renewable electricity to methane, with subsequent reuse. Audi, along with ETOGAS, is building the first commercial-scale demonstration plant (6.3 Financing Project VGV: the Green Redemption Fund.

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Nornickel, Rosatom and FESRC to design and build LNG-icebreaker to escort Nornickel ships along Northern Sea Route

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The parties will form a working group to develop terms of reference for the LNG icebreaker design and construction, select a shipyard, and consider financing options. The new LNG icebreaker will enable Nornickel to replace the Taimyr-type vessel that will be decommissioned in 2027–2029.

Design 195
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Oil Well Strippers Suffering From Low Oil Prices

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With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. A stripper is a small operator of very old oil wells that frequently produce less than five barrels per day of oil.

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EIA: State tax rates for retail gasoline and diesel increased in 13 states in 2023

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The 2022 “Inflation Reduction Act” reinstated the Hazardous Substance Superfund financing rate on domestic crude oil and imported petroleum products, which refinery operators and importers pay. per barrel (b) ($0.002/gal) Oil Spill Liability Trust Fund (OSLTF) tax and a $0.164/b ($0.004/gal) Hazardous Substance Superfund tax.

Tax 273
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Global Bioenergies picks up new €1.4M financing for isobutene program; targeting Germany expansion

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million) financing from Bpifrance on the isobutene program. This financing, which allows Global Bioenergies to strengthen its leadership in the field of fermentative isobutene, is structured in the form of a €1.4-million Isobutene is one of the key petrochemical building blocks. million (US$1.6-million)

Financing 150