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3 Oil Majors That Bet Big On Renewables

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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com.

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DNV forecasts oil demand in transport sector to halve by 2050

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Despite oil demand in the transport sector forecast to half by 2050, the present pace of the transition still falls severely short of the goals of the Paris Agreement. Conversely, the consumption of oil within aviation will be virtually flat to 2050, with hydrocarbons set to have a 60% share in the sector in the same year.

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New UC Davis market-based sustainability forecasting approach concludes supplanting gasoline and diesel with renewable fuels could take 131 years

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At the current pace of research and development, replacing gasoline and diesel with renewable fuel alternatives could take some 131 years, according to a new University of California, Davis, study using a new sustainability forecasting approach based on market expectations. The forecast was published online 8 Nov.

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EIA expects continued high prices for diesel and home heating oils

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The US Energy Information Administration (EIA) expects that low inventories of distillate fuels, which are primarily consumed as diesel fuel and heating oil, will lead to high prices through early 2023. US distillate fuel inventories average 17% below the five-year average in the forecast for 2023. EIA forecasts Russia will produce 9.3

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IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

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Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9

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Acelen to invest $2.44 billion over 10 years to produce renewable diesel and SAF in Brazil

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billion) over the next 10 years in the production of renewable diesel and sustainable aviation fuel (SAF) through the hydrotreatment of vegetable oils and animal fat. In Abu Dhabi, Acelen signed a memorandum of understanding for the production of renewable diesel and SAF with the government of the Brazilian state of Bahia.

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Navigant forecasts global 6% CAGR for biofuels to 2023

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over the forecast period. Navigant expects conventional ethanol derived from corn starch, coarse grains, and sugarcane to remain the largest segment of biofuels throughout the forecast period. CAGR over the forecast period. Both Asia Pacific and the Middle East & Africa are forecast to show the fastest growth with CAGRs of 9.2%

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