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EIA forecasts 2023 global production of liquid fuels to exceed 101 MMb/d for first time

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Energy Information Administration (EIA) increased its forecast for the 2023 Brent crude oil price by 2.5% This change came after OPEC and its partner countries (OPEC+) announced crude oil production cuts for 2023. Despite OPEC+ announcing it would cut crude oil production by 1.2 from its previous forecast.

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Arbios Biotech forms global alliance with Shell Catalysts & Technologies; wood and post-consumer biomass to finished products

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Arbios Biotech, a joint venture between Licella and Canfor ( earlier post ), and Shell Catalysts & Technologies (SC&T), have formed a new global alliance aimed at utilizing SC&T’s upgrading technology capability in the pursuit of a low-carbon intensity, circular-economy-focused biorefinery.

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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6

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Nuseed, bp partner to accelerate market adoption of Nuseed Carinata as a sustainable low-carbon biofuel feedstock

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Nuseed and BP Products North America Inc., have entered into a long-term strategic offtake and market development agreement that will see bp, or its affiliates, purchase Nuseed Carinata oil to process or sell into growing markets for the production of sustainable biofuels. million barrels a year in 2022.

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First orders for MAN G80 dual-fuel methanol engine

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The engines, which are capable of operation on green methanol and conventional fuel-oil, represent the first order for the G80 bore size; they will also feature MAN Energy Solutions’ proprietary EGR (Exhaust Gas Recirculation) systems.

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First Nuseed Carinata shipment for biofuel feedstock

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This follows an independent SCS Global audit and certification by the Roundtable on Sustainable Biomaterials (RSB), a globally recognized leader in sustainability, which confirmed substantial carbon reduction with the use of Nuseed Carinata as a biofuel feedstock.

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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

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CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. It is the second-largest oil producer in the UK North Sea.

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