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US Treasury allows Chevron to resume oil production in Venezuela, delivery to US only

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The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued Venezuela General License (GL) 41 , authorizing Chevron Corporation to resume limited natural resource extraction operations in Venezuela. from receiving profits from the oil sales by Chevron. Chevron currently holds a 39.2% Chevron also holds a 25.2%

Venezuela 358
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Indian Oil signs MOU with LanzaJet on sustainable aviation fuel production in India

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Indian Oil Corporation, India’s leading energy major, has entered into a memorandum of understanding (MOU) with LanzaJet to explore the development of sustainable aviation fuel (SAF) production in India. As a rapidly developing country, India’s energy transition will play a pivotal role in global energy markets.

India 170
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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

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Exxon Mobil Corporation added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. billion oil-equivalent barrels at year-end 2017. ExxonMobil’s reserves life at current production rates is 14 years. ExxonMobil’s proved reserves totaled 21.2 Resource Base.

2017 186
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Westinghouse, Bloom Energy to accelerate large-scale hydrogen production in nuclear industry; high-temperature integrated electrolysis

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Westinghouse Electric Company and Bloom Energy Corporation have entered into a Letter of Intent to pursue clean hydrogen production in the commercial nuclear power market. Solid oxide technology is well suited for nuclear applications, efficiently harnessing steam to further improve the economics of hydrogen production.

Hydrogen 319
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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

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Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 This resumption of production may accelerate if WTI remains above $30 per barrel—a price that allows operators to cover their operating costs and that reflects improved storage availability.

Oil 186
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China’s first integrated methanol-to-hydrogen and hydrogen refueling service station now in operation

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China Petroleum & Chemical Corporation (Sinopec) officially launched China’s first methanol-to-hydrogen and hydrogen refueling service station in Dalian, China. Sinopec’s hydrogen production plant has the advantages of covering a small area, having a short construction time, and having a green, environmentally friendly production process.

Hydrogen 418