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New study finds GHG emissions from palm oil production significantly underestimated; palm oil biofuels could be more climate-damaging than oil sands fuels

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The majority (62%) of the plantations were located on the island of Sumatra, and more than two-thirds (69%) of all industrial plantations were developed for oil palm cultivation, with the remainder mostly being Acacia plantations for paper pulp production. Earlier post.).

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Japan will begin test drilling for oil and gas off Niigata coast in 2013

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Japan’s Ministry of Economy, Trade and Industry (METI) will begin test drilling for oil and natural gas in the Sea of Japan off the coast of Niigata Prefecture in April 2013. METI hopes to discover Japan’s largest reserves of these resources—possibly the size of intermediate oil fields in the Middle East, according to METI.

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USGS new estimates of global undiscovered, technically recoverable conventional oil and natural gas, excluding US

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USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources of the world. Many new areas were included in the current study, defining and assessing 313 assessment units throughout the world, as compared to 246 in 2000. Geological Survey (USGS) released today.

Oil
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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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Map of basins with assessed shale oil and shale gas formations, as of May 2013. 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. Source: US EIA. Click to enlarge.

Oil
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IEA: Petrochemicals set to be the largest driver of world oil demand

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Petrochemicals are rapidly becoming the largest driver of global oil demand. Petrochemicals are set to account for more than a third of the growth in world oil demand to 2030, and nearly half the growth to 2050, adding nearly 7 million barrels of oil a day by then. Source: IEA. —Dr Fatih Birol, IEA Executive Director.

Oil
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BASF and Gazprom agree on asset swap; BASF’s Wintershall expanding production of oil and gas, exiting gas trading and storage business

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Through the swap, BASF aims to further expand its production of oil and gas via its wholly owned subsidiary Wintershall —Germany’s largest internationally active crude oil and natural gas producer—and to exit the gas trading and storage business. billion barrel of oil equivalent.

Gas
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ExxonMobil, Georgia Tech and Imperial College London publish joint research on potential breakthrough in membrane technology for oil refining

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Scientists from ExxonMobil, the Georgia Institute of Technology and Imperial College of London have published in the journal Science joint research on potential breakthroughs in a new membrane technology that could reduce emissions and energy intensity associated with refining crude oil. —Thompson et al.