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Austria-based OMV, an international, integrated oil, gas and chemicals company, announced its intention to become a net-zero (Scope 1, 2 and 3) company by no later than 2050. The gradual decline foresees a decrease in crude oil production by around 30% and natural gas production by around 15% by 2030.
The US Environmental Protection Agency (EPA) is proposing comprehensive new regulations to reduce methane emissions from the oil and natural gasindustry—including, for the first time, reductions from existing sources nationwide. Source: EPA. billion a year.
In this case—which reflects only current laws and regulations—renewable energy is the fastest-growing energy source through 2050, while petroleum remains the largest share of energy consumption throughout that period, followed by natural gas.
project for industrial-scale production of green hydrogen via the electrolysis of water using ?renewable produced by reforming natural gas, which does result in CO 2 emissions. power, industry and transport sectors, especially those that are hard-to-electrify or ?expensive-to-electrify. renewable power, producing zero emissions.
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.
The pilot will support E3 Lithium’s Clearwater project, which will draw lithium from under the Leduc oil field, Imperial’s historic discovery that first launched major oil and gas development in Western Canada. —Jason Iwanika, director of commercial business development at Imperial.
Canadian researchers have developed a large-scale economical method to extract hydrogen from oil sands (natural bitumen) and oil fields. The process can extract hydrogen from existing oil sands reservoirs, with huge existing supplies found in Canada and Venezuela. Proton Technologies is commercializing the process.
A new study from WCS (Wildlife Conservation Society) and WWF finds that nearly 20% of tropical Intact Forest Landscapes (IFLs) overlap with concessions for extractive industries such as mining, oil and gas. The total area of overlap is 376,449 square miles (975,000 square kilometers), about the size of Egypt. Grantham et al.
The fuel is produced from materials such as used oil from restaurants and the food industry. The first car freighter was refueled for the first time with this oil in mid-November 2020 and a second ship is due to follow at the beginning of 2021. This way, we reuse waste oil in an environmentally compatible way.
Methane pyrolysis separates methane (CH 4 ) into gaseous hydrogen and solid carbon that is a valuable material for various industry branches and can also be stored safely. Now, KIT is partnering with industry partner Wintershall Dea to further develop this process for use on an industrial scale. Resources.
Aemetis, a renewable fuels company focused on negative carbon intensity products ( earlier post ), has signed a 10-year, 450-million-gallon renewable diesel supply agreement with an industry-leading travel stop company, which is expected to generate more than $3 billion in revenue. The industrial site has 710,000 s.f.
The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). million barrels per day this year and 12.8
Researchers at The Ohio State University have used a chemical looping process to produce hydrogen from hydrogen sulfide gas—commonly called “sewer gas”. Hydrogen sulfide is emitted from manure piles and sewer pipes and is a key byproduct of industrial activities including refining oil and gas, producing paper and mining.
signed a framework agreement to sell seeds of its proprietary castor varieties to one of the world’s leading oil and gas companies for cultivation in specific African territories. Casterra’s high-yield, high-oil castor seed varieties are optimized for biofuel production to support the growing market of sustainable energy.
These include the financing and construction of an oil refinery in the DRC to be owned jointly by both countries to meet regional demand for refined petroleum products, along with the construction of storage facilities for refined products. —Equatorial Guinea’s Minister Gabriel Mbaga Obiang Lima.
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 gasindustry.
India’s state-run Oil and Natural Gas Corp (ONGC) said that oil output from the Sakhalin-1 project in Russia has returned to a plateau level of 190,000 - 200,000 barrels per day (bpd) from zero. In April 2023, Russia’s Rosneft offered dividend payments to OVL against its 20% stake, rather than equity oil. billion dollars.
After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the COVID-19 pandemic reduces energy consumption across the global economies. The report shows that medium-term growth will come from increasing cost-competitiveness and increased global access to gas. Low-carbon gas.
of the methane encountered during oil production. of the methane in gas flares used by the oil and gasindustry. During oil production, producers encountering pockets of methane typically use flare stacks to burn off the vented gas. The three-year, $2.9-million —Luis Gutierrez.
This cost-effective solution can help meet the growing requirements for hydrogen use across various industries by leveraging existing refinery and transportation infrastructure. Existing idle oil refining assets can be revamped to release the hydrogen from the liquid carrier for use in multiple commercial and industrial applications.
Gold Hydrogen is a novel source of carbon neutral hydrogen produced from depleted oil reservoirs that are ready for plug and abandonment, extending the life of wells that would otherwise be a significant burden. Cemvita Factory’s mission is to reimagine heavy industries such as oil & gas and mining for the net-zero economy.
A joint industry partnership to commercialize clean, gold hydrogen, the program’s founding members include synthetic biology company Cemvita Factory (innovator in low-carbon microbial solutions for energy and mining resource extraction, production, and renewal); and Chart Industries, Inc. (a a leader in clean energy solutions).
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.
To reduce the number of accidents in the global oil and gasindustry caused by damaged pipelines, University of Houston researchers are developing an autonomous robot to identify potential pipeline leaks and structural failures during subsea inspections. When larger spills happen, pipelines are often the culprit.
Petrochemicals are rapidly becoming the largest driver of global oil demand. Petrochemicals are set to account for more than a third of the growth in world oil demand to 2030, and nearly half the growth to 2050, adding nearly 7 million barrels of oil a day by then. Source: IEA. —Dr Fatih Birol, IEA Executive Director.
Scientists from ExxonMobil, the Georgia Institute of Technology and Imperial College of London have published in the journal Science joint research on potential breakthroughs in a new membrane technology that could reduce emissions and energy intensity associated with refining crude oil. —Thompson et al.
Texas oil tycoon H.L. Hunt is one of the Texas oil billionaires mentioned here. “On On a scale not always appreciated, the Texas oil billionaires nurtured the. continued] The post Racism In The Oil & GasIndustry? continued] The post Racism In The Oil & GasIndustry?
An upgrade from the previous fueling station offering oil, gas, hydrogen, electric charging services, the integrated complex can produce 1,000 kilograms of hydrogen a day, with a purity of 99.999%. Sinopec Fuel Oil Sales Co., China produces the most methanol in the world, accounting for 60% of the global total.
A coalition of major oil & gas, power, automotive, fuel cell, and hydrogen companies have developed and released the full new report, a “ Road Map to a US Hydrogen Economy. ” In addition, if the right actions are taken now a competitive hydrogen industry can meet 14 percent of US energy demand by 2050. million jobs by 2050.
The report, Opportunities for hydrogen in commercial aviation , which had technical input and funding from The Boeing Company, finds that growing hydrogen industry momentum could provide an opportunity to introduce hydrogen for niche airport applications (such as ground support equipment) as early as 2025. —Dr Marshall.
Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. —Joseph McMonigle, secretary general, IEF.
Researchers from the GEOMAR Helmholtz Center for Ocean Research Kiel have found that considerable quantities of the greenhouse gas methane escape uncontrolled into the water from abandoned oil and gas wells in the North Sea. The most important factor was indeed the distance of the wells from the gas pockets.
Hydrogen demand is currently concentrated in oil refining and ammonia production, but nearly 90% of projected demand growth through 2050 comes from new sectors like heavy-duty transportation, steel production, and long-term energy storage. President and CEO of GTI Energy.
Payara is the third project in the Stabroek Block and is expected to produce up to 220,000 barrels of oil per day after startup in 2024, using the Prosperity floating production, storage and offloading (FPSO) vessel. The $9-billion development will target an estimated resource base of about 600 million oil-equivalent barrels.
The engine block is derived from a Cursor 11 commercial vehicle engine manufactured by FPT Industrial and has already served us for five years in various research projects. In cooperation with a major European supplier, a new oil-lubricated common-rail pump had therefore been developed. This is done via exhaust gas recirculation (EGR).
IBM announced that bp has joined the IBM Quantum Network to advance the use of quantum computing in the energy industry. IBM Quantum is an industry-first initiative to build universal quantum systems for business and science applications. ExxonMobil and Daimler are also IBM Quantum Network Industry Partners.
In an EU-funded research project, an international consortium is aiming to develop new production methods for sustainable marine fuels to replace heavy fuel oils in shipping. This is cost competitive with Ultra-Low Sulfur Fuel Oil (ULSFO) which current, 2019, price level is €450-550/tonne. NL); Winterthur Gas & Diesel Ltd. (CH);
Cummins and Taylor Machine Works, a leading US manufacturer of heavy industrial lift equipment, signed a letter of intent with plans to integrate the Cummins 6.7-liter This collaboration will help realize the decarbonization goals of industrial steel, wood products, concrete, oil and gas, and port operations markets.
A team of scientists from Heriot-Watt University has found the waters in the Faroe-Shetland Channel (FSC) are teeming with oil-eating bacteria. The FSC is a deepwater sub-Arctic region where the oil and gasindustry has been active for the last 40?years. —Angelova et al. 03701-20.
In cases where hydrogen will be shipped (as hydrogen or its derivatives), it will eventually be distributed on land using hydrogen pipelines, which makes transport via pipelines a critical transportation mode for the gas. Hydrogen pipelines are already used to supply industrial hubs (at petrochemical plants for example).
The Record of Decision (ROD) reduces the size of the project by denying two of the original five drill sites proposed by ConocoPhillips, which is seeking to develop oil and gas leases it acquired beginning in the late 1990s. The Willow project is estimated to produce 180,000 barrels of oil per day at its peak. Earlier post.)
Ltd has signed a Memorandum of Understanding for the joint development of a solid oxide fuel cell (SOFC) system for marine propulsion and power generation with Navig8, a Singapore-based major shipping company which operates 140 chemical and oil tankers globally. Doosan Fuel Cell Co.,
The Geothermal Energy from Oil and Gas Demonstrated Engineering (GEODE) initiative ( DE-FOA-0002632 ) solicits an administrator to establish and lead a consortium that will facilitate collaborative research, development, and demonstration (RD&D). The ultimate objective is to expand domestic geothermal deployment significantly.
In addition to battery charging and swapping network development, the two will comprehensively cooperate in new materials, smart EV technology, Battery-as-a-Service (BaaS), vehicle purchasing, and recreational facility constructions to further leverage their advantages in building an innovative collaboration model between the global energy and automotive (..)
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