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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.
Global Clean Energy Holdings, Inc., Alon Bakersfield Refinery is an existing oil refinery located in Bakersfield, California. Historically, the refinery has produced diesel from crude oil and has a capacity of 70,000 barrels per day. through a subsidiary, has purchased Alon Bakersfield Properties, Inc.,
Globaloil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees globaloil demand at 99.9
will more than double its annual production of renewable diesel with the completion of a second Honeywell Ecofining process unit with a capacity of 30,000 barrels per day (bpd). The Diamond Green Diesel facility converts inedible oils and other waste fats into a high-quality renewable diesel fuel. and Darling Ingredients Inc.,
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. Driven by Asian markets, global demand for virgin polyolefins is expected to grow above global GDP by 2030. The company can build on a strong position.
Darling and Valero jointly announced that their 50/50 joint venture, Diamond Green Diesel (DGD), has received approval from both companies’ Boards of Directors to proceed with the construction of the renewable diesel production facility to be located at Valero’s Port Arthur, Texas refinery. billion pounds of used cooking oil annually.
The Review captures the significant impact the global pandemic had on energy markets and how it may shape future global energy trends. This fall was driven mainly by oil, which accounted for almost three quarters of the net decline. World oil production fell for the first time since 2009 by 6.6 million b/d). million b/d.
Building on its capability of proactive transformation, Neste has initiated a strategic study on transitioning its refinery in Porvoo, Finland to non-crude oil refining and into a globally leading renewable and circular solutions site. Neste’s growth strategy is centered on renewable and circular solutions.
Their paper tracks fossil fuel usage and government subsidies since the the 2009 G20 summit, during which representatives from 20 countries discussed global financial and socioeconomic issues and agreed to “phase out and rationalize over the medium term inefficient fossil fuel subsidies.”. 5 consumer of oil,” Krane said.
NEXT Renewable Fuels , Inc. NEXT) and Shell Trading (US) Company (Shell) have entered a long-term purchase and sale agreement for the purchase of renewable diesel from NEXT’s planned Port Westward, Oregon facility. million barrels (600 million gallons). NEXT is focused on the development and production of second?generation
The US Energy Information Administration (EIA) expects that low inventories of distillate fuels, which are primarily consumed as diesel fuel and heating oil, will lead to high prices through early 2023. Renewable energy is the only source that increases its share of electricity generation in 2023 in our forecasts,” DeCarolis said.
Phillips 66 and Renewable Energy Group, Inc. announced that planning is underway for the construction of a large-scale renewable diesel plant on the US West Coast. The plant would utilize REG’s proprietary Bio-Synfining technology for the production of renewable diesel fuel. from the intermediate renewable hydrocarbons.
A new analysis by European environmental NGO Transport & Environment finds that Europe burns more than 17,000 tonnes of rapeseed and sunflower oil every day—the equivalent of 19 million 1-liter bottles. Supermarkets have had to ration vegetable oils and prices are soaring. In a time of scarcity we must prioritize food over fuel.
Higher crude prices and continued optimization improvements have driven the first upward revision to the S&P Global Commodity Insights 10-year oil sands production outlook in more than half a decade. Higher oil prices have driven record returns for the Canadian oil sands.
The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report.
Global energy-related carbon dioxide emissions rose by 6% in 2021 to 36.3 The rebound of global CO 2 emissions above pre-pandemic levels has largely been driven by China, where they increased by 750 million tonnes between 2019 and 2021. billion tonnes, accounting for 33% of the global total. billion tonnes. billion tonnes.
Exxon Mobil Corporation’s new The Outlook for Energy: A View to 2040 , released last week, projects that global energy demand in 2040 will be about 30% higher than it was in 2010 as population grows to 9 billion and global GDP doubles. Growth is led by developing regions such as China, India, Africa and other emerging economies.
The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. EIA also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana.
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. Today, transport of passengers and goods accounts for about a quarter of global energy-related CO 2 emissions, a share that will grow to 30% by 2050.
Phillips 66, a diversified energy manufacturing and logistics company, plans to reconfigure its San Francisco Refinery in Rodeo, California, to produce renewable fuels. The plant would no longer produce fuels from crude oil, but instead would make fuels from used cooking oil, fats, greases and soybean oils.
billion) over the next 10 years in the production of renewable diesel and sustainable aviation fuel (SAF) through the hydrotreatment of vegetable oils and animal fat. Mubadala Capital is the asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor headquartered in Abu Dhabi.
Petrochemicals are rapidly becoming the largest driver of globaloil 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.
Upon completion of the project, Kinder Morgan’s Harvey, Louisiana facility will serve as the primary hub where Neste will store a variety of raw materials including, for example, the used cooking oil it collects from more than 40,000 restaurants across the United States. —Jeremy Baines, President of Neste US.
The Goodyear Tire & Rubber Company announced a new formulation of its popular Endurance WHA waste haul tire made with a renewable soybean oil compound. The Endurance WHA is now made with soybean oil, which replaces a portion of the petroleum-based materials used in its production. Earlier post.). “In
Cepsa—the Spain-based multinational oil and gas company—will invest more than €3 billion to establish the Andalusian Green Hydrogen Valley, creating the largest green hydrogen hub in Europe in southern Spain. It also expects Spain to become a net exporter of renewable hydrogen.
Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The second volume, the World Gas and Renewables Review , focused on natural gas and renewables sources (solar, wind and biofuels), will be published in autumn.
Japan-based biotechnology company euglena ( earlier post ) has completed the construction of its demonstration-scale biorefinery in Yokohama for the production of renewable jet and diesel fuels from algae and waste oil. Euglena expects its renewable jet fuel to qualify for ASTM certification by next spring.
DHL Global Forwarding, the air and ocean freight specialist of Deutsche Post DHL Group, says it will be neutralizing the carbon emissions of all less-than-container load (LCL) ocean freight shipments from 1 January 2021. —Tim Scharwath, CEO DHL Global Forwarding, Freight.
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. According to recent studies, the global green hydrogen market size was valued at US$0.3 billion in 2020. billion by 2028.
Neste, the world’s leading producer of renewable diesel and sustainable aviation fuel produced from waste and residue raw materials, has agreed to acquire 100% of Mahoney Environmental (Mahoney), a collector and recycler of used cooking oil in the United States, and its affiliated entities. Neste has announced a $1.54-billion
Many new vehicles that leave the Audi plants in Germany are delivered with R33 fuel—a blend comprising one-third renewable components. R33 Blue Gasoline and R33 Blue Diesel consist of one-third renewable components, based exclusively on residual and waste materials. HVO (hydrotreated vegetable oil)—and 7% biodiesel.
ExxonMobil has signed an agreement with Global Clean Energy Holdings to purchase 2.5 million barrels of renewable diesel per year for five years from a converted California refinery starting in 2022. As background, globally, in 2019, ExxonMobil sold some 1.9 million barrels per day of heating oils, kerosene and diesel oils.
ExxonMobil and Global Clean Energy have expanded their five-year agreement to increase ExxonMobil’s purchase of renewable diesel to up to 5 million barrels per year. The renewable diesel leverages Global Clean Energy’s patented camelina crop, which can significantly reduce life-cycle greenhouse gas emissions.
In its International Energy Outlook 2021 (IEO2021), EIA projects that strong economic growth, particularly with developing economies in Asia, will drive global increases in energy consumption despite pandemic-related declines and long-term improvements in energy efficiency. —EIA Acting Administrator Stephen Nalley.
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).
From now on, most of these seafaring journeys are made with renewable fuel instead of traditional fossil fuel. The first global car maker to announce such a switch, Volvo calculates it will achieve an immediate reduction in fossil CO 2 emissions from intercontinental ocean freight by 55,000 tonnes over a year.
Finland-based Neste has submitted three new Tier 2 Pathways for California’s Low Carbon Fuel Standard (LCFS) for renewable diesel produced at its Porvoo, Finland refinery. Two pathways are for Renewable Diesel from Tallow & Animal Fat and one is for Renewable Diesel from Used Cooking Oil (UCO). gCO 2 e/MJ. gCO 2 e/MJ.
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. IDEALFUEL seeks to develop methods to convert woody residual and waste materials such as sawdust and wood chips into renewable marine fuels.
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.
U-Haul—the largest US retailer of propane—has purchased one million gallons of renewable propane to sell at its company-owned and -operated stores across California for the second year in row. No cost increase is passed on to U-Haul customers as a result of the renewable propane initiative. Earlier post.)
The fuel, jointly developed by Volkswagen, the Coburg University and other project partners, contains up to 33% renewable components based exclusively on residual and waste materials and enables CO 2 savings of at least 20% compared to conventional diesel thanks to the use of biofuels. Volkswagen employees tested the new fuel initially.
These new grades will claim 100% renewable attributed carbon derived from crude tall oil (CTO) bio-feedstock, according to a mass-balance approach. CO 2 /kg, according to the ISO14040 standard) while reducing dependence on upstream crude oil consumption. —Anthony Bonnet, Global R&D Director for Fluoropolymers.
Crude palm oil is one of the more than ten renewable raw materials that Neste uses to produce a range of renewable products, including renewable diesel. Palm oil represents approximately 20% of Neste’s renewable raw material usage annually. Schematic of a belt filter press. Source: EPA.
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.
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