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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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2011 IEA Coordinated Release. Awards were made for delivery of 10.8 million barrels of sweet and 200,000 barrels of sour crude oil.

Oil 418
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Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

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At 3%, the 2011 increase in global CO 2 emissions is above the past decade’s average annual increase of 2.7%. combined, where emissions increased by 9% and 6% respectively in 2011. According to the report, the top emitters contributing to the global 34 billion tonnes of CO 2 in 2011 are: China (29%). the United States (16%).

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EIA: China is now the world’s largest net importer of petroleum and other liquid fuels

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US total annual petroleum and other liquids production is expected to rise 31% between 2011 and 2014 to 13.3 The rise in China’s net imports of petroleum and other liquids is driven by steady economic growth, with rapidly rising Chinese petroleum demand outpacing production growth. Click to enlarge. million barrels per day.

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New EIA report boosts estimates of global recoverable shale oil resources 10-fold to 345 billion barrels

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Among the highlights in the 2013 report is a 10-fold increase in the estimate of technically recoverable shale / tight oil from 32 billion barrels (from the EIA’s Annual Energy Outlook 2011 ) to 345 billion barrels. The earlier EIA/ARI study from 2011 stimulated new work on shales in many countries (e.g., Report terminology.

Oil 281
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US Shale Is Now Cash Flow Neutral

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For years, the drilling boom was done with a lot of debt, and the revenus earned from steadily higher levels of output were not enough to cover the cost of drilling, even when oil prices traded above $100 per barrel in the go-go drilling days between 2011 and 2014. Even when US oil production hit a peak at 9.7

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Platts: June OPEC output of 32.73M barrels of crude per day, highest since Aug. 2008

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million b/d, as production in Nigeria and Libya tentatively recovered along with steady increases for Saudi Arabia and Iran, according to an S&P Global Platts survey of OPEC and oil industry officials. million b/d, its highest since June 2011, and very close to pre-sanctions levels, according to Platts OPEC survey data.

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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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in 2011, close to the historical average. in 2011, broadly in line with the historical average but well below the 5.1% The loss of oil supplies in Libya and elsewhere was eventually more than offset by large production increases among Middle Eastern OPEC members, leading to record oil production in Saudi Arabia, the UAE and Qatar.

Coal 261