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US Treasury allows Chevron to resume oil production in Venezuela, delivery to US only

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The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued Venezuela General License (GL) 41 , authorizing Chevron Corporation to resume limited natural resource extraction operations in Venezuela. from receiving profits from the oil sales by Chevron. Chevron currently holds a 39.2% Chevron also holds a 25.2%

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ExxonMobil increases purchases of renewable diesel from Global Clean Energy Holdings to up to 5M barrels per year

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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 original agreement signed in August 2020 committed ExxonMobil to purchase 2.5 Earlier post.). million barrels of renewable diesel per year.

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OMV says it will stop oil and gas production by 2050 in transformation to net-zero

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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. The gradual decline foresees a decrease in crude oil production by around 30% and natural gas production by around 15% by 2030.

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Oil sands company Suncor Energy strengthens its focus on hydrogen and renewable fuels, divesting wind and solar

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Suncor Energy, a Canadian integrated energy company that is one of the top oil sands producers in the country, will strengthen its focus on hydrogen and renewable fuels to accelerate progress towards its objective to be a net-zero company by 2050. Suncor also plans to divest its wind and solar assets.

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Audi first car manufacturer to introduce second-generation prelube oils; start with Q6 e-tron electric SUV in 2022

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With the conventional lubrication Prelube I (left), one gram of oil is applied over every square meter of sheet steel. grams of oil are required for every square meter. The new oil class creates a protective film on the surface of a metal sheet that is thicker and does not run off. grams of conventional oil.

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Gas War: Biden Admin Decides Against Refilling Dwindling Oil Reserves, Citing High Prices

The Truth About Cars

The Biden administration has decided against purchasing oil for the Strategic Petroleum Reserve after promising to refill the nation’s emergency energy supply after it reached a 40-year low. Much of this hovers around the fact that oil companies were following suit and that a significant portion of the supply was sold to China.

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Zero-carbon lithium producer Vulcan Energy purchases 3D seismic and drilling data from Rhein Petroleum

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Vulcan Energy Resources, which intends to produce a battery-quality lithium hydroxide chemical product from a combined geothermal energy and lithium resource ( earlier post ), will purchase 3D seismic and drilling data from Rhein Petroleum GmbH. Further updates on lithium offtakes are expected CY21.

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