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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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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

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CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. It is the second-largest oil producer in the UK North Sea.

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BloombergNEF: clean energy investment in developing nations slumps as financing in China slows; coal burn surges to record high

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This is due to wind and solar projects generating only when natural resources are available while oil, coal, and gas plants can potentially produce around the clock. But like trying to turn a massive oil tanker, it takes time. thousand terawatt-hours in 2018, up from 6.4 thousand in 2017.

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Argonne study finds BEVs can have lowest scheduled maintenance costs, but highest cost of driving

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The study considers five different powertrains (internal combustion engine, hybrid-electric, plug-in hybrid-electric, fuel-cell-electric, and battery-electric) and 12 cost components (purchase cost, depreciation, financing, fuel, insurance, maintenance, repair, taxes, registration fees, tolls and parking, payload capacity and labor).

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ExxonMobil to buy 2.5M barrels of renewable diesel per year for 5 years from Global Clean Energy

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million barrels per day of heating oils, kerosene and diesel oils. Following scheduled production startup in 2022, ExxonMobil plans to distribute the renewable diesel within California and potentially to other domestic and international markets. ExxonMobil has signed an agreement with Global Clean Energy Holdings to purchase 2.5

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Sasol and ITOCHU to partner on green ammonia and hydrogen

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The MoU was signed during the Tokyo International Conference on African Development (TICAD 8) in Tunisia, a forum to advance Japan-Africa sustainable development on the continent. MUFG Bank Ltd, one of the largest Financial Institutions in the world, and a market leader in sustainable financing solutions, witnessed the signing of the MoU.

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Worldwatch: Fossil fuel subsidies continue to outweigh those for renewable energy; international pledges on reform unfulfilled

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Although independent reporting on these subsidies has increased, global efforts to move forward with subsidy reform have been hindered by a variety of causes, leaving international pledges unfulfilled. of the GDP for 2011–12, according to the International Institute for Sustainable Development’s Global Subsidies Initiative ( GSI ).

Renewable 312