(Oil & Gas 360) – Global food producer Mars has announced a nearly $50 million initiative focused on its cows and candy to halve greenhouse gas emissions by the end of the decade and become Net Zero by 2050. Mars’ “Moo-ving Dairy Forward” sustainable dairy plan seeks to find links in Mars’ supply chain that will allow it to cut methane
(World Oil) – Under increasing pressure to decarbonize and shift away from traditional fossil fuels, the world’s leading oil and gas companies are ramping up investments in the biofuels sector. Major players such as BP, Chevron, Shell, TotalEnergies, ExxonMobil and Eni are incorporating biofuels into their broader energy transition strategies, recognizing the growing global demand for sustainable fuel sources. According to
(Oil & Gas 360) – While Americans continue to enjoy some of the lowest food costs in the world (as a percentage of income) due to a steady increase in the farming sector’s economic efficiencies, American agriculture is also emerging as a small but growing source of domestic natural gas. Farm biogas (aka renewable natural gas, or RNG) is gaining
Oil & Gas 360 ENGLEWOOD, Colo., Jan. 24, 2024 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), a leading carbon abatement company that commercializes drop-in fuels and chemicals for difficult to decarbonize sectors, today provided a business update. Gevo also expects to publish an updated corporate investor presentation to its website. RNG: Non-GAAP cash EBITDA of $7-16 million is expected in
Reuters NEW YORK – POET, the largest biofuels producer in the United States, is in discussions with Flint Hills Resources to acquire the entirety of Flint Hills’ ethanol assets, both companies told Reuters on Thursday. The deal would increase POET’s potential production capacity for ethanol by more than a third to 3 billion gallons per year, said Jessica Sexe, a
Reuters NEW YORK – Demand for feedstocks from renewable fuel producers is expected to surge in the United States in coming years as companies scramble to expand output. Energy from material that comes from plants and animals, or biomass, currently accounts for roughly 5% of U.S. energy use, slightly more than wind and solar energy. Most U.S. energy use is
Reuters LONDON – Energy trader Gunvor Group aims to cut its Scope 1 and 2 emissions by 40% in absolute terms by 2025, the company said on Tuesday, and has set up a new subsidiary to invest in non-hydrocarbon projects. The Geneva-based firm, which is among the top five global oil traders, aims to cut emissions it produces directly, and
Reuters LONDON – Royal Dutch Shell is betting on its expertise in power trading and rapid growth in hydrogen and biofuels markets as it shifts away from oil, rather than joining rivals in a scramble for renewable power assets, company sources said. Shell and its European rivals are seeking new business models to reduce their dependency on fossil fuels and
Reuters NEW YORK – The U.S. oil industry is seeking to forge an alliance with the nation’s corn growers and biofuel producers to lobby against the Biden administration’s push for electric vehicles, but is so far meeting a cool reception, according to multiple sources familiar with the discussions. The effort to promote liquid fuels and combat expected federal subsidies for
Reuters LONDON/NEW YORK – European and U.S. oil refineries face a wave of closures due to plateauing fuel demand, tightening environmental rules and overseas competition, prompting some owners to opt for an easier alternative – converting plants to produce biofuels. The shock of the coronavirus epidemic crushed global oil demand and as some producers, including BP, say it might never
Reuters U.S. oil refiners this quarter are expected to spend the most since at least 2018 to meet U.S. biofuels requirements, further pressuring margins hit by the collapse since March in global prices and demand. Under renewable fuel legislation originally aimed to support corn farmers, refiners have to blend biofuels like ethanol or diesel made from animal fats or vegetable
By Tyler Losier, Energy Reporter, Oil & Gas 360 Genscape will become a part of Verisk subsidiary Wood Mackenzie Verisk (stock ticker: VRSK), a data analytics provider headquartered in New Jersey, has signed a definitive agreement to acquire Genscape, a provider of real-time data for commodity markets, from Daily Mail and General Trust (DMGT) for $364 million in cash. As
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