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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. EIA expects the Brent crude oil spot price to average $85 per barrel in 2023, $3 per barrel higher than its March forecast.

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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

Global 448
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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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Nearly 20% of intact tropical forest landscapes overlap with extractive industries

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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 open-access study is published in Frontiers in Forests and Global Change. Grantham et al. Grantham Hedley S., Jones Kendall R.

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USGS new estimates of global undiscovered, technically recoverable conventional oil and natural gas, excluding US

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USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources of the world. These new estimates are for conventional oil and gas resources only. Geological Survey (USGS) released today.

Oil 218
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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. 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.

Engine 365