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Actively develop bioenergy
Marathon Oil Corporation and Andersons of Ohio, USA, formed an ethanol joint venture with a 50:50 investment ratio to produce fuel-grade ethanol. From 2007 to 2011, Petrobras’ investment in renewable fuels will exceed 300 million U.S. dollars. The company will invest 60 million U.S. dollars in the near future to build three sets of plants that use vegetable oil as raw material to produce biodiesel, and plans to start production in the fourth quarter of 2007.
Spain's largest oil company, Repsol-YPF, signed an agreement with Acciona, a company engaged in renewable energy, to build a biodiesel plant. They plan to jointly invest 300 million euros in the construction of biodiesel production facilities in Spain, with a total capacity of more than 1 million tons/year.
Hydrogen development and utilization speed
Shell Hydro has started preliminary development projects in the first 10 years to support the commercial operation of hydrogen vehicles. Chevron Texaco Technology Co., Ltd. used the first Chevron hydrogen station at the Chino Hyundai-Kia American Technology Center in May 2005. This project is part of the US Department of Energy's 5-year hydrogen energy technology program. The new hydrogen injection station will fill some of the modern Tucson and Kia Sportage fuel cell vehicles with hydrogen. These fuel cell vehicles use proton exchange membrane technology.
BP and GE have already started two projects. They will convert fossil fuels to hydrogen, which will generate hydrogen through the turbines. The two companies will also capture 90% of the CO2 produced in the process and then inject it into deeper layers. These projects will verify the efficiency, reliability, and economics of hydrogen for large-scale power generation.
Solar technology continues to innovate
Shell introduced a new generation of technologies in the solar field, including CIS thin-film batteries. It is said that the technology will be competitive in the use of scattered electricity in the future. Shell's CIS technology has four years of experience in production and sales, and has been certified by the International Power Technology Committee. The technical efficiency of using thin film products has reached 13.5%. Shell has passed a $2.5 million China-Holland joint venture development project to provide a central solar power generation system for remote villages in Xinjiang.
BP Solar has developed a new silicon growth process that significantly improves battery efficiency compared to traditional polysilicon solar cells. This technology is combined with other processes of BP Solar in the battery process technology, and the generated electricity is 5% to 8% higher than that of a conventional process battery. The company plans to use this technology on its existing equipment at the Frederick plant and achieve large-scale production.
Emission reduction projects launched one after another
According to the requirements of the Kyoto Protocol, global oil companies have increased their input and are committed to reducing greenhouse gas emissions. BP and Shell are particularly active in their efforts to reduce greenhouse gas emissions. BP has built a plant in Peterhead, UK, to re-inject natural gas CO2 into the ground for enhanced oil recovery.
The goal set by Shell is to reduce greenhouse gas emissions in 2010 by 5% over 1990. Shell also cooperated with Stawell Corporation to build an integrated coal gasification combined cycle power project and capture CO2. In March this year, Shell and Statoil will build the world's first CO2 capture project from gas-fired power plants to increase oil production in offshore oil fields.
Multinational oil companies transform their energy strategy
In order to get rid of the shortage of global oil and gas resources and the persistent high oil prices, and explore the path of sustainable human development from the perspective of ensuring energy supply, some large oil companies in the world are accelerating the transition to integrated energy companies and actively developing renewable energy. The development of new energy technologies and participation in greenhouse gas emission reductions have achieved significant results so far.