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EIA expects US petroleum trade to shift toward net imports during 2022

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In 2021, the United States returned to importing more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it exports following its historic shift to being a net exporter of petroleum in 2020, according to the US Energy Information Administration (EIA). million b/d. million b/d.

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Phillips 66 makes final investment decision for $850M conversion of refinery to renewable fuels facility; commercial operation in 1Q 2024

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Upon completion of Rodeo Renewed, the converted facility will no longer process crude oil and instead use waste oils, fats, greases and vegetable oils to produce an initial 800 million gallons per year (over 50,000 barrels per day) of renewable transportation fuels, including renewable diesel, renewable gasoline and sustainable aviation fuel.

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Southern Rock Energy Partners picks Cushing, OK as site for new $5.56B 250 kbpd crude refinery

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and the City of Cushing, Oklahoma announced that Southern Rock Energy Partners, LLC (SREP) has selected Cushing as the site for its 250,000 BPD next-generation, full conversion crude refinery. billion in capital investment and supply 423+ full-time employees for operations. The Cushing Economic Development Foundation, Inc.

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President Biden calls on Congress, States for fuel tax holiday; increase in refinery capacity

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President Biden called on Congress to suspend the federal gas tax for the next 90 days, through the busy summer driving season—18 cents per gallon for gasoline and 24 cents per gallon for diesel. He also continued his calls for the oil industry to increase refinery capacity to increase production.

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Neste Oil launches sales of NExBTL renewable naphtha; plastics feedstock and biocomponent for gasoline

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Neste Oil—the world’s largest producer of renewable diesel—has launched the commercial production and sales of renewable naphtha for corporate customers; the company is one of the first to supply bio-naphtha on a commercial scale. vegetable oils) to green fuels (the core of the NExBTL process), Sotelo-Boyás et al.

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Audi begins initial engine testing of Global Bioenergies, Fraunhofer e-gasoline

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Audi remains convinced of the potential of the fuels e-gas, “e-benzin” (e-gasoline) and e-diesel and is continuing to pursue its e-fuels strategy. galons US), the largest batch yet produced—of synthetic Audi e-gasoline for initial engine tests. Audi “e-benzin” (e-gasoline) is essentially a liquid isooctane. Earlier post.)

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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. There will not be enough oil to stay on the path we’re on globally over the short- and medium-, let alone the long-term. We need a competitor for oil.