10-01-2017, 11:41 PM
Exxon Mobil Corp vastly expanded its presence in Brazil on Wednesday, winning 10 blocks in the country’s 14th round of bidding for oil exploration and production rights, helping the cash-strapped nation fetch a record 3.8 billion reais ($1.19 billion).
Exxon Mobil bets on Brazil, buys 10 oil blocks in auction
This month, it was ExxonMobil’s turn to report a breakthrough in advanced biofuels. Exxon said that it had found a way to make algae ‘fatter’, and those algae could become part of the (distant) future energy mix, could cut carbon dioxide emissions, and would not compete with food crops like other biofuel sources. Exxon and Synthetic Genomics have been partners since 2009 in researching and developing oil from algae to be used as a renewable, lower-emission alternative to traditional transportation fuels.
Exxon announced biofuels breakthrough with no timetable to market - Business Insider