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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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Casterra to sell castor seeds for cultivation to leading oil and gas company; $9.1M initial purchase

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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.

Oil 276
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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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Imperial Oil and E3 Lithium partner on lithium pilot project, redeveloping historic oil field

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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. This produces a very clean product for the development of high-purity battery-grade lithium compounds.

Oil 418
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Cemvita demonstrates “gold hydrogen” production in situ, sets up subsidiary

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Cemvita defines Gold Hydrogen as the biological production of hydrogen in the subsurface through the consumption of trapped or abandoned resources. The hydrogen production in this trial exceeded our expectations. Green hydrogen production, however, is energy intensive and expensive. It is growing at a CAGR of 54.7%

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S&P Global: absolute GHGs from Canadian oil sands did not increase in 2022 even as production grew

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Absolute greenhouse gas emissions from Canadian oil sands production were flat in 2022 even as total production grew, according to an initial analysis by S&P Global Commodity Insights. Absolute emissions held steady at 81 million metric tons of carbon dioxide (MMTCO2) in 2022 while total production topped 3.1

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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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