The first thing you do is you focus on efficiency. The best way to find new energy is not to use energy wastefully that we have today. And so efficiency in uh industrial facilities, in transportation, uh in manufacturing, all really really essential.The second thing that uh we're focused on is investing in technologies that we think hold the promise to reduce the carbon intensity of uh energy use in the future. So, uh, hydrogen is one example, renewable fuels is a second, uh, geothermal is a third. Earlier ...

Australia’s top fuel supplier Ampol warned the country risks falling behind on renewable fuels, with investment in local production hinging on policy support through incentives or demand mandates https://t.co/NgTVH4AQYA ...

Southwest Airlines sold a renewable fuels unit to Conestoga Energy as the carrier scales back its climate-focused initiatives following years of little progress by the industry https://t.co/LckJQqrPRV ...

Core Insights - Imperial Oil reported Q2 2025 results with historic upstream production but lower overall profits due to weaker commodity prices [1][6] - Revenue reached $11.2 billion, significantly exceeding analyst estimates of $8.91 billion, while earnings per share (EPS) was $1.86, surpassing the expected $1.19 [1][2] - Despite year-over-year declines in profit and revenue, operational gains and project launches were notable highlights [1][5] Financial Performance - Q2 2025 EPS (GAAP) was $1.86, down 11.8% from $2.11 in Q2 2024 [2] - Revenue (GAAP) was $11.2 billion, with a net income of $949 million, a decrease from $1,133 million in Q2 2024, reflecting a 16.2% decline [2][6] - Free cash flow (non-GAAP) was $993 million, down 15.3% from $1,173 million in Q2 2024 [2] Production and Operational Highlights - Gross upstream production reached 427,000 barrels per day, the highest second-quarter output in over 30 years [5] - Kearl oil sands facility set a new record with production of 275,000 barrels per day, up from 255,000 barrels per day in Q2 2024 [5] - Syncrude output increased by 16.7% to 77,000 barrels per day from 66,000 barrels per day in Q2 2024 [5] Cost Management and Efficiency - Upstream unit cash costs (non-GAAP) decreased to $29.00 per barrel from $32.75 in Q2 2024 [6] - Cold Lake production costs are targeted to reach $13 per barrel as part of ongoing cost reduction efforts [6] Project Execution and Future Outlook - Major projects include the completion of maintenance at Kearl and the initiation of steam injection at the Leming SAGD project, with first oil expected by late 2025 [7] - The Strathcona refinery's renewable diesel facility is set to provide lower-emission fuels to the Canadian transportation sector [8] - Management signaled confidence in operational momentum and emphasized priorities such as maximizing reliability and controlling unit costs [11] Dividend and Share Repurchase - The company paid $367 million in dividends, maintaining a dividend of $0.72 per share [10] - Management renewed authorization to repurchase up to 5% of shares, with plans to accelerate purchases [10] Environmental Investments - Ongoing environmental investments are projected to reach approximately $2.6 billion in 2025, crucial for compliance and brand positioning [12]

Core Viewpoint - Par Pacific Holdings, Mitsubishi Corporation, and ENEOS Corporation have established a joint venture named Hawaii Renewables to produce renewable fuels at Par Pacific's refinery in Kapolei, Hawaii, with Mitsubishi and ENEOS acquiring a 36.5% stake for $100 million [1][2][4]. Group 1: Joint Venture Details - Hawaii Renewables will utilize Par Pacific's existing refining and logistics infrastructure and advanced pretreatment technology from Lutros, LLC, with construction underway and expected completion by the end of the year [2][3]. - The facility will be the largest renewable fuels manufacturing site in Hawaii, projected to produce approximately 61 million gallons per year of renewable diesel, sustainable aviation fuel, renewable naphtha, and low carbon liquefied petroleum gases [2][3]. Group 2: Production and Environmental Impact - The facility is designed to produce up to 60% sustainable aviation fuel as an initial step towards decarbonizing Hawaii's air travel market, with the capability to process various feedstocks and adjust yields based on market conditions [3]. - The renewable fuels produced will help reduce greenhouse gas emissions while ensuring a reliable supply of transportation and utility fuels for Hawaii consumers [3]. Group 3: Strategic Partnership Benefits - The partnership combines Par Pacific's West Coast and Pacific asset base with Mitsubishi's global business capabilities, including access to its Petro-Diamond Inc. Terminal in Long Beach, California, and expertise in global feedstock procurement [4]. - ENEOS will enhance the partnership by leveraging its experience in fuel refining and trading across Asia-Pacific and North America, contributing to the initiative's success [4][5]. Group 4: Company Backgrounds - Par Pacific Holdings operates 219,000 barrels per day of refining capacity across four locations and has an extensive energy infrastructure network, including 13 million barrels of storage [6]. - Mitsubishi Corporation is a global integrated business enterprise with operations across various industries, including Environmental Energy and Power Solution [7][8]. - ENEOS Corporation is Japan's leading energy company, focusing on refining and marketing petroleum products while aiming for a carbon-neutral society through energy transition [9].

Core Insights - Aemetis, Inc. is actively collaborating with the U.S. government to enhance its operations in India, particularly through its subsidiary Universal Biofuels, which operates an 80 million gallon per year biodiesel production facility in Kakinada, Andhra Pradesh [2][3][4] Company Overview - Aemetis is a diversified global renewable natural gas and biofuels company, headquartered in Cupertino, California, focusing on innovative technologies for energy independence and security [7][8] - Universal Biofuels has been operational for over 17 years and is one of the largest biodiesel producers in India, recently increasing its production capacity from 60 million gallons to 80 million gallons [5][6] Industry Context - India aims to increase the biodiesel blend from 1% to 5% as part of its National Policy on Biofuels, which aligns with Aemetis' expansion plans [3][4] - The Indian government is committed to enhancing biofuels production to improve air quality and market agricultural products, addressing significant public health issues caused by diesel engine emissions [4][3] Financial and Operational Highlights - Universal Biofuels completed $112 million in biodiesel and glycerin shipments in the twelve months ending September 2024, with ongoing contracts with government-owned oil marketing companies [6] - The company is preparing for an IPO in India, targeting completion in late 2025 or early 2026, contingent on favorable market conditions [5]