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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 million barrels per day in 2023, which would surpass the record average production of 12.3 EIA forecasts that retail sales of electricity to the industrial sector will grow by 2.8% million barrels per day set in 2019.

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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.

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Oil sands company Suncor Energy strengthens its focus on hydrogen and renewable fuels, divesting wind and solar

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Suncor Energy, a Canadian integrated energy company that is one of the top oil sands producers in the country, will strengthen its focus on hydrogen and renewable fuels to accelerate progress towards its objective to be a net-zero company by 2050. Suncor also plans to divest its wind and solar assets.

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production.

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BP selects Tesla batteries for pilot storage project at US wind farm

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BP Wind Energy, through its wholly-owned subsidiary Rolling Thunder I Power Partners LLC, has signed a purchase agreement to install a high-storage battery at its Titan 1 Wind Farm in South Dakota. Situated on 7,500 acres in Hand County, Titan 1 Wind Farm is wholly owned and operated by BP Wind Energy.

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SAF company DG Fuels closes investments with two Japanese companies

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These facilities typically use approximately one ton of coal to produce one BBL of hydrocarbons, with a life cycle CO 2 emissions calculation that is slightly worse than equivalent fuels derived from conventional oil refining. DGF replaces the coal gasification used by others with biomass gasification and natural gas reforming.

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EIA projects increases in global energy consumption and emissions through 2050

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Renewables will be the primary source for new electricity generation, but natural gas, coal, and increasingly batteries will be used to help meet load and support grid reliability. EIA projects electricity generation to almost double in developing non-OECD countries by 2050.

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