article thumbnail

Woodside approves investment in $7.2B Trion development in deepwater Gulf of Mexico; first oil in 2028

Green Car Congress

First oil is targeted for 2028. BHP Petroleum acquired an interest in 2017 which subsequently became part of Woodside’s portfolio in 2022. BHP Petroleum acquired an interest in 2017 which subsequently became part of Woodside’s portfolio in 2022. Trion was discovered in 2012 by PEMEX.

Mexico 195
article thumbnail

US Shale Is Immune To An Oil Price Crash In 2017

Green Car Congress

shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S. oil production,” the consultancy noted.

article thumbnail

Eni report: global oil reserves and oil production up in 2018 due to US

Green Car Congress

Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry.

article thumbnail

DOE to award up to $88M for oil and natural gas recovery research

Green Car Congress

The Department of Energy’s (DOE’s) Office of Fossil Energy announced up to $88 million in federal funding for cost-shared research and development projects enhancing technologies for oil and natural gas recovery under two separate funding opportunity announcements (FOAs). trillion cubic feet (Tcf) in 2017, beating the 2014 record of 388.8

Oil 306
article thumbnail

ExxonMobil reports oil discovery at Pinktail, offshore Guyana

Green Car Congress

In addition to successful appraisal of the Turbot discovery, the Turbot-2 well encountered 43 feet (13 meters) of net pay in a newly identified, high quality hydrocarbon bearing sandstone reservoir separate from the 75 feet (23 meters) of high quality, oil bearing sandstone reservoir pay encountered in the original Turbot-1 discovery well.

Guyana 186
article thumbnail

EIA forecasts US crude oil production rate to break record high in 2018 and again in 2019; 10.3 and 10.8 million b/d

Green Car Congress

In its latest edition of the Short-Term Energy Outlook , the US Energy Information Administration (EIA) forecasts that US crude oil production will average 10.3 EIA also forecasts that 2019 crude oil production will rise further to an average of 10.8 US crude oil production averaged an estimated 9.3 million b/d in 2017.

2018 207
article thumbnail

Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

Green Car Congress

As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil. oil may not be able to fill.