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Austria-based OMV, an international, integrated oil, gas and chemicals company, announced its intention to become a net-zero (Scope 1, 2 and 3) company by no later than 2050. The company can build on a strong position. The share of gas will increase to more than 60%.
In this case—which reflects only current laws and regulations—renewable energy is the fastest-growing energy source through 2050, while petroleum remains the largest share of energy consumption throughout that period, followed by natural gas. Source: U.S. Energy Information Administration, Annual Energy Outlook 2022 (AEO2022).
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. The concept is the same embodied in Audi’s e-gas project ( earlier post ), to which the VGV proposal makes continued reference.
PTT is a Thai state-owned oil and gas company and the largest publicly listed conglomerate in Thailand. It will build on Foxconn’s recently-established MIH industry alliance , an open network that enables developers and manufacturers to offer a complete software and hardware platform to build electric cars.
Petrochemicals are rapidly becoming the largest driver of global oil demand. Petrochemicals are set to account for more than a third of the growth in world oil demand to 2030, and nearly half the growth to 2050, adding nearly 7 million barrels of oil a day by then. Source: IEA. —Dr Fatih Birol, IEA Executive Director.
The non-exclusive cooperation agreement will see both companies develop and use technology to reduce the carbon footprint of oil & gas operations. MHI has also further developed its advanced-class gas turbines to be capable of utilizing hydrogen, currently at 30%, and ultimately 100%.
Payara is the third project in the Stabroek Block and is expected to produce up to 220,000 barrels of oil per day after startup in 2024, using the Prosperity floating production, storage and offloading (FPSO) vessel. The $9-billion development will target an estimated resource base of about 600 million oil-equivalent barrels.
Royal Dutch Shell will build an 820,000-tonnes-a-year biofuels facility at the Shell Energy and Chemicals Park Rotterdam, the Netherlands, formerly known as the Pernis refinery. Hydrogen and high-pressure steam are then used in the production process to convert oils into fuels (hydroprocessing), helping to reduce the fuel’s carbon intensity.
Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by global business information provider IHS Markit. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.
Total OECD annual production of crude oil, natural gas liquids (NGL), and refinery feedstocks increased by 10.3% Canadian production also increased on an annual basis (+8.1%), due to robust production of crude oil, while Mexico’s production continued to fall (-6.3%). or 105 Mt in 2018 compared to 2017.
Crude palm oil is one of the more than ten renewable raw materials that Neste uses to produce a range of renewable products, including renewable diesel. Palm oil represents approximately 20% of Neste’s renewable raw material usage annually. Increased pressure is created as the belt passes over rollers which decrease in diameter.
Saudi Aramco and Air Products signed an agreement to jointly-build the first hydrogen fuel cell vehicle fueling station in Saudi Arabia. The use of hydrogen derived from oil or gas to power fuel cell electric vehicles represents an exciting opportunity to expand the use of oil in clean transport. —Ahmad O.
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.
A coalition of major oil & gas, power, automotive, fuel cell, and hydrogen companies have developed and released the full new report, a “ Road Map to a US Hydrogen Economy. ” Demand potential across sectors, base and ambitious cases. Road Map to a US Hydrogen Economy ”. .; Toyota; and Xcel Energy. —Morry Markowitz.
The e-Fuel plant is planned to produce CO 2 -neutral fuel by using green hydrogen and furnace gas from an existing factory. Aker Solutions is already a leading supplier to oil and gas companies globally and will continue to maintain this market position. e-Fuels production use electrical power in the process.
Suncor Energy, a Canadian integrated energy company that is one of the top oil sands producers in the country, will strengthen its focus on hydrogen and renewable fuels to accelerate progress towards its objective to be a net-zero company by 2050. In 2002, Suncor partnered with Enbridge to build one of the first renewable.
Texas-based fuel company Nacero ( earlier post ) will build its second low- and zero-carbon fuels plant in Newport Township, Pennsylvania. The new manufacturing facility will produce low- and zero-lifecycle carbon footprint gasoline blendstock made from natural gas and renewable natural gas.
The California Air Resources Board last week approved the final proposed 2022 Scoping Plan ( earlier post ), a roadmap to reduce demand for petroleum by 94%, cut air pollution by 71%, reduce greenhouse gas emissions 85%, and reach carbon neutrality by 2045.
Together, the two companies will build a production facility in Shaanxi Fupin in China to produce methanol synthesis catalysts. Forming of the joint venture and building of the catalysts facility will be the first step of a long-term strategic cooperation between Topsoe and Yanchang.
Over the next few years, Sinopec plans to deploy 5,000 battery charging and swapping stations. In March 2021, Nio announced that it had completed 2,000,000 battery swaps using its first-generation swapping stations.
Cepsa—the Spain-based multinational oil and gas company—will invest more than €3 billion to establish the Andalusian Green Hydrogen Valley, creating the largest green hydrogen hub in Europe in southern Spain. The company will build two plants with a total capacity of 2 GW to produce green hydrogen.
In cases where hydrogen will be shipped (as hydrogen or its derivatives), it will eventually be distributed on land using hydrogen pipelines, which makes transport via pipelines a critical transportation mode for the gas. Europe, with its extensive gas grid, is well placed to make the jump.
Neste and CIM, part of NOVEN Group in France, the leading independent French group of companies providing oil storage and supply services, are collaborating to enable the supply of Neste MY Sustainable Aviation Fuel into France. Neste is committed to contribute significantly as we are increasing our global SAF production capacity to 1.5
Hydrogen demand is currently concentrated in oil refining and ammonia production, but nearly 90% of projected demand growth through 2050 comes from new sectors like heavy-duty transportation, steel production, and long-term energy storage. According to S&P Global Commodity Insights’ hydrogen outlook, global hydrogen demand grows from 70.4
billion) in Grangemouth, its integrated refinery and petrochemicals complex in Scotland, in the next phase of reducing greenhouse gas emissions to net zero by 2045. The fuel source will be mixed gas, sourced from within the Grangemouth Complex via pipe infrastructure.) INEOS will invest an additional £1 billion (US$1.4 Grangemouth.
ExxonMobil projects that meeting future energy demand will be supported by more efficient energy-saving practices and technologies; increased use of less-carbon-intensive fuels such as natural gas, nuclear and renewables; as well as the continued development of technology advances to develop new energy sources. Natural gas.
HyCOgen, Johnson Matthey’s Reverse Water Gas Shift technology, is a catalyzed process to convert green hydrogen and CO 2 into carbon monoxide (CO), which is combined with additional hydrogen to form synthesis gas (syngas), a crucial building block in the manufacture of fuels and chemicals.
Hyundai Motor Group will collaborate with the Saudi Arabian Oil Company (Aramco) and King Abdullah University of Science and Technology (KAUST) jointly to research and develop an advanced fuel for an ultra lean-burn, spark-ignition engine that aims to lower the overall carbon dioxide emissions of a vehicle. —Ahmad O.
In their proposed Lingen Green Hydrogen project, the two firms intend to build an initial 50 ?megawatt produced by reforming natural gas, which does result in CO 2 emissions. The project is also intended to support a longer-term ambition to build more than 500MW of ?renewable-powered renewable power, producing zero emissions.
The Rhodium Group, an independent research provider, estimates that, after a sharp uptick in 2018, US greenhouse gas (GHG) emissions fell by 2.1% An increase in natural gas generation offset some of the climate gains from this coal decline, but overall power sector emissions still decreased by almost 10%. Coal-driven decline.
Ltd has signed a Memorandum of Understanding for the joint development of a solid oxide fuel cell (SOFC) system for marine propulsion and power generation with Navig8, a Singapore-based major shipping company which operates 140 chemical and oil tankers globally. Doosan Fuel Cell Co., Earlier post.).
is planning to build a 3,000 barrels per day (bpd) renewable fuel plant (Refuel YYZ) in Southern Ontario. Planned feedstocks include a mix of waste fats, oils and greases , such as regionally-sourced used cooking oil, animal fats and non-edible crop oils. Refuel Energy Inc.
IBM Quantum is an industry-first initiative to build universal quantum systems for business and science applications. IBM announced that bp has joined the IBM Quantum Network to advance the use of quantum computing in the energy industry. —Morag Watson, senior vice president, digital science and engineering for bp.
Price-competitive natural gas will be used for the direct reduction of iron ore, but the CO 2 emitted by this process will be injected into UAE oil fields for enhanced oil recovery (EOR) under the practice of carbon capture, utilization and storage (CCUS).
Base One is anticipated to take three to four years to build. The highly ambitious new-build electrolysis facility will be powered entirely by renewable energy, initially 3.4 —Gary Martin, a Managing Director with Black & Veatch’s Oil & Gas business. gigawatts of solar and onshore wind. billion investment.
In this next phase of the program, we intend to broaden participation and invite others to build the ecosystem required for full-scale deployment. In the past few years Viridos’ leadership in engineering microalgae has achieved greater than 5x bio-oil productivity increases by increasing both the oil content in the algae and the algae yield.
Chevron (as well as fellow oil major ExxonMobil) has been developing co-processing—adding biomass-derived feedstocks to the fossil-based feedstocks of existing petroleum refinery process units—as a way to produce fuels with increased renewable content more cost-effectively.
Jiangnan Shipyard, owned by China State Shipbuilding Corp (CSSC), has ordered an LPG (liquefied propane gas)-burning MAN B&W 6G60ME-LGIP engine in connection with the building of an 86,000-m 3 VLGC (Very Large Gas Carrier) for Tianjin Southwest Maritime (TSM), the Chinese shipping company. LGIP engine.
One of the planned pilot projects, funded cooperatively by the DOE Office of Fossil Energy with industry cost share, combines the resources of the oil and gas industry with PNNL’s technology. Oil and gas extraction across the US and Canada pumps subsurface water to the surface as part of the extraction process.
Department of Energy (DOE) selected 16 projects to receive nearly $25 million in federal funding for cost-shared projects to advance natural gas infrastructure technology development. AOI 2: Process-Intensified Technologies for the Upcycling of Flare Gas into Transportable, Value-Added Products.
Toyota’s FPEG features a hollow step-shaped piston, combustion chamber and gas spring chamber. is developing a prototype 10 kW Free Piston Engine Linear Generator (FPEG) featuring a thin and compact build, high efficiency and high fuel flexibility. Click to enlarge. A team at Toyota Central R&D Labs Inc. Click to enlarge.
Researchers from Carnegie Mellon University and the University of Pittsburgh have found that the air pollution and greenhouse gas costs of shipping crude by rail are nearly twice as large as those for oil pipelines. Air pollution and greenhouse gas damages for transportation by railroad and pipelines to the gulf coast.
Biomass technology group BTG plans to set up a new high-tech technology company that can convert crude pyrolysis oil into diesel fuel suitable for the shipping sector. It will be the first refinery in the world for an advanced marine biofuel based on pyrolysis oil. The new facility will be operated by a new company named BTG-neXt.
ReactWell , LLC, has licensed a novel waste-to-fuel technology from the Department of Energy’s Oak Ridge National Laboratory to improve energy conversion methods for cleaner, more efficient oil and gas, chemical and bioenergy production. It can be used by refineries to upgrade their feedstock or to convert biomass to oil.
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