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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

Green Car Congress

In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil.

Oil 418
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EIA: proved reserves of US natural gas established a new record; oil reserves increased by 16% at the end of 2021

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In 2021, proved reserves of natural gas set a new record in the United States, and proved reserves of crude oil and lease condensate increased, but not quite to pre-pandemic levels, according to the US Energy Information Administration (EIA). Changes in prices and costs. New and improved techniques and technologies. per barrel in 2021.

Oil 259
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Grön Fuels selects Haldor Topsoe technologies for multi-billion-dollar renewable fuels complex in Louisiana

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The integration of the fully proven H2bridge hydrogen technology with the HydroFlex technology enables Grön Fuels to produce renewable bio-hydrogen equivalent to the production of a 1,000 MW hydrolyzer plant at a fraction of the cost.

Renewable 397
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Shell selects site for proposed $12.5B GTL project in Louisiana

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Shell has selected Ascension Parish in Louisiana as the location for a potential natural gas-to-liquids (GTL) facility. The Louisiana Department of Transportation and Development will begin moving forward this year with projects that benefit the industry and those who travel throughout St. James and Ascension parishes.

Louisiana 255
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SAF company DG Fuels closes investments with two Japanese companies

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billion, 180 million gallon per year SAF facility in Louisiana to occur in early 2024. The Louisiana SAF facility will be the template for multiple other such facilities to be built across North America, Europe and Asia. The relatively modest balance of the maximum $30-million capital raise is expected to fund in the next few months.

Companies 370
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Energy Vault to provide 1.6 GWh of gravity energy storage to support DG Fuels SAF projects

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gigawatt hours (GWh) of gravity energy storage to support DG Fuels across multiple projects, with the first project slated for 500 megawatt hours (MWh) in Louisiana. DG Fuels expects to complete its Louisiana SAF project by mid-2022. The Louisiana facility is the company’s first major project.

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Low oil prices hurting some US shale operations; slumping oil prices putting pressure on drillers

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The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. There are now 1,590 active oil rigs, the lowest level in six weeks. 17, compared to the prior week.