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

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Strong continuing international demand for petroleum and other liquids will sustain US production above 2022 levels through 2050, according to most of the cases in the US Energy Information Administration’s (EIA’s) Annual Energy Outlook 2023 (AEO2023). These cases include: The Reference case, which serves as a baseline, or benchmark, case.

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Researchers develop large-scale, economical method to extract hydrogen from oil sands and oil fields

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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.

Oil-Sands 375
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Mercedes-Benz presents prototype Unimog with hydrogen combustion engine; multi-power distribution

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At this year’s demopark open-air exhibition, Mercedes-Benz is presenting a prototype of the Unimog based on the U 430 with hydrogen-powered combustion engine as part of the publicly funded “WaVe” project. Here, gas is compressed or expanded by a change in oil volume, which creates a resilient effect.

Hydrogen 417
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Nornickel presents market review of nickel and platinum group metals

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Russia-based Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, presented its eleventh review of the nickel and platinum group metals (PGM) markets based on the fundamental analysis of world economic and industry data. Mt to 3.22 Mt (7% year-on-year growth).

Market 304
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Shell starts production at Vito in US Gulf of Mexico; new, simplified design

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Shell Offshore, a subsidiary of Shell plc, has started production at the Shell-operated Vito floating production facility in the US Gulf of Mexico (GoM). Shell reached an FID on Whale in 2021 and is currently scheduled to begin production in 2024. Shell is the leading operator in the US Gulf of Mexico for oil and gas production.

Mexico 221
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Los Alamos-led study finds how to improve natural gas production in shale; hydrocarbon transport within nanopores

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The most challenging issue facing the shale energy industry is the very low hydrocarbon recovery rates: less than 10% for oil and 20% for gas. Most of US natural gas is hidden deep within shale reservoirs. These insights help optimize strategies to boost natural gas production as well as better understand fluid mechanics.

Gas 243