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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.

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Combustion-vehicle sales peaked in 2017, peak oil due in 2027

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The global market for internal-combustion vehicles peaked in 2017 and is now in "structural decline," Bloomberg New Energy Finance declared in a recent report. In 2017, 86 million internal combustion passenger vehicles were sold globally—including.

2017 183
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The $32-Trillion Push To Disrupt The Entire Oil Industry

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Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. by Cyril Widdershoven for Oilprice.com.

Oil 231
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Big Oil Betting On Electric Vehicles

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Speaking this week at the Bloomberg New Energy Finance conference in New York, Total SA’s chief energy economist, Joel Couse, forecasted that EVs will make up 15 to 30 percent of global new vehicle sales by 2030. Oil demand for transportation fuel see its “ demand will flatten out ,” after 2030, Couse said. Maybe even decline. ”.

Oil 218
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VTT and partners to assess bio- and waste-based oils suitable for power plants and ships; BioFlex project

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In a three-year Business Finland BioFlex project, VTT—the Finnish state-owned research agency—and partners are exploring how suitable fuel oils made from biomass and waste plastics are for power plants and ship diesel engines. We are also conducting experiments to examine the suitability of the oils for applications.

Waste 170
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Algenol closes on additional $25M internal equity financing

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It is then isolated and purified, while the algal biomass is processed to extract and produce a bio-oil co-product. The algal bio-oil can be used to produce biodiesel, renewable diesel, or other bio-oil-derived products.

Financing 150
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EIA: At least 9 new refinery projects to come online before end of 2023 in Asia and Middle East; 2.9 MMb/d

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In the International Energy Agency’s (IEA) June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0 The Shenghong Petrochemical facility in Lianyungang has an estimated capacity of 320,000 b/d, and they report that trial crude oil-processing operations began in May 2022. million b/d in 2023.

Asia 418