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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. 2 Total SA.

Oil 418
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€7M German project to develop processes and demand scenarios for the mass production of synthetic fuels; “Refineries for Future”

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To cover future needs of heavy-duty vehicles, airplanes, and ships and provide chemical industry with basic substances, we will require the corresponding industrial facilities. This will affect future production capacities. So-called “refuels” promise to reduce CO 2 emissions by 90% compared to conventional fuels.

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British Airways, Phillips 66 sign sustainable aviation fuel supply agreement

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British Airways and Phillips 66 Limited have entered into a multi-year supply agreement for sustainable aviation fuel produced at the Phillips 66 Humber Refinery, making the airline the first in the world to use SAF produced in the UK. The SAF will be supplied to British Airways to power a number of its flights from early 2022.

Supplies 321
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Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

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shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oil price forecasts by Wall Street’s major investment banks. In recent years, U.S.

Oil 150
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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

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The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 Non-OPEC+ is set to lead world supply growth through next year, adding 1.9 As for OPEC+, total oil output in 2023 may fall as embargoes and sanctions shut in Russian volumes and producers outside the Middle East suffer further declines.

Oil 210
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Neste to supply the Air France-KLM Group with more than 1M tons of Sustainable Aviation Fuel

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Neste will supply the Air France-KLM Group with more than 1,000,000 tons (approximately 1.26 The Air France-KLM Group (AF-KLM) and Neste expanded their existing cooperation with this new strategic partnership for the supply of Neste MY Sustainable Aviation Fuel to the Group.

France 284
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EIA: International demand will drive US production of petroleum and other liquids through 2050

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EIA projects that the United States will continue to be an integral part of global oil markets and a significant source of supply in these cases, as increased exports of finished products support US production. It reflects laws and regulations adopted through mid-November 2022 but assumes no new laws or regulations in the future.