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CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. billion cash. The price represents a premium of.
The US Department of the Interior will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area. Ultra-deep gas royalty relief required under EPAct will still be available.
The US Environmental Protection Agency (EPA) is proposing comprehensive new regulations to reduce methane emissions from the oil and natural gas industry—including, for the first time, reductions from existing sources nationwide. Source: EPA. billion a year.
In an interview with the Nikkei, Shinji Nishio, president of Nippon Oil Corp., said that gas stations will transform into providers of electricity and hydrogen, in addition to gasoline. I often tell gas station managers that we must adapt to the changing times. Such vehicles may expand at an enormous rate from around 2015.
Health and other non-climate damages by life-cycle component for different combinations of fuels and light-duty automobiles in 2005 (top) and 2030 (bottom). GHG emissions (grams CO 2 -eq)/VMT by life-cycle component for different combinations of fuels and light-duty automobiles in 2005 (top) and 2030 (bottom). Click to enlarge.
Greenhouse gas (GHG) emission standards and CAFE standards increase new LDV fuel economy through model year 2025 and beyond, with more fuel-efficient new vehicles gradually replacing older vehicles on the road and raising the fuel efficiency of the LDV stock by an average of 2.0% per year, from 21.5 l/100 km) in 2012 to 37.2
Canada Environment Minister Leona Aglukkaq announced that Canada plans to reduce its greenhouse gas (GHG) emissions by 30% below 2005 levels by 2030. The new regulations include: Regulations aligned with recently proposed actions in the United States to reduce GHG methane from the oil-and-gas sector.
Flows through the Strait in 2011 were roughly 35 percent of all seaborne traded oil, or almost 20 percent of oil traded worldwide. ”. They are a critical part of global energy security due to the high volume of oil traded through their narrow straits. million bbl/d was crude oil. million bbl/d in 2009-2010. —US EIA.
Oil remains the world’s leading fuel, but its 33.1% Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% The fossil fuel mix continues to change with oil, the world’s leading fuel at 33.1%
Alberta’s oil sands operations accounted for 28.8% of Canadian natural gas demand in 2016, up from 11.8% in 2005, according to a new report by Canada’s National Energy Board (NEB). From 2005 to 2016, natural gas purchased by oil sands projects more than tripled, from 0.73 Bcf/d in 2016. Click to enlarge.
BP announced a giant oil discovery at its Tiber Prospect in the deepwater Gulf of Mexico (GOM). The Tiber well was drilled to a total depth of approximately 35,055 feet (10,685 metres) making it one of the deepest wells ever drilled by the oil and gas industry. The well found oil in multiple Lower Tertiary reservoirs.
Eni announced that first oil from the giant Kashagan oil field has been produced. Afterwards, the production will increase progressively up to 370,000 barrels of oil equivalent per day. Kashagan is one of the largest oil fields discovered in the last 40 years, with estimated reserves of 35 billion barrels of oil in place.
Natural gas production in North Dakota has more than doubled since 2005, largely due to associated natural gas from the growing oil production in the Bakken shale formation. Gas production averaged more than 485 million cubic feet per day (MMcfd) in September 2011, compared to the 2005 average of about 160 MMcfd.
The US Department of Energy’s National Energy Technology Laboratory (NETL) has released a technical report on the results of a limited field study that monitored a hydraulic fracturing operation in Greene County, PA for upward fracture growth out of the target zone and upward gas and fluid migration.
The US Energy Information Administration (EIA) continues to expand its assessment of technically recoverable shale oil and shale natural gas resources around the world. Each of the countries has an existing oil and natural gas industry with infrastructure connecting the basins to global markets. Bcf/d from 2005 to 2014.
EIA’s AEO2012 projects a continued decline in US imports of liquid fuels due to increased production of gas liquids and biofuels and greater fuel efficiency. EIA added a premium to the capital cost of CO 2 -intensive technologies to reflect current market behavior regarding possible future policies to mitigate greenhouse gas emissions.
The UK government’s Department of Energy and Climate Change (DECC) approved the field development plan put forward by Statoil and its co-venturers for the Mariner heavy oil field. The average production is estimated at around 55,000 barrels of oil per day over the plateau period from 2017 to 2020. Location of the Mariner field.
Vattenfall and Aalborg University are partnering with Danish startup SCF Technologies in a two-year project to design a demonstration plant based on SCF’s CatLiq process—an application of the firm’s supercritical fluid technology in the catalytic production of bio-oil from organic waste. The oxygen content of the CatLiq bio-oil is 2-12%.
The well results confirm a significant resource extension for the Mad Dog Field complex, which includes the existing field, in production since 2005, and appraisal drilling of the Mad Dog South field in 2008 and 2009. interest, Chevron Corporation, through its subsidiary Union Oil Company of California, has a 15.6%
billion) in Grangemouth, its integrated refinery and petrochemicals complex in Scotland, in the next phase of reducing greenhouse gas emissions to net zero by 2045. INEOS acquired Grangemouth in 2005, and has so far delivered a 37% reduction in net CO 2 emissions. INEOS will invest an additional £1 billion (US$1.4 Grangemouth.
Maersk Oil and other partners declared the Azul-1 deepwater exploration well, located in Block 23 in the Kwanza Basin, a discovery well. The condition of the well prevented an assessment of flow capacity by a conventional test; this was performed as a mini-Drill Stem Test that enabled the recovery of two good quality oil samples.
Argentina and Venezuela will form a joint venture targeting production of 100,000 barrels of extra-heavy oil per day in the Junin field area of the Orinoco Oil Belt. The US Geological Survey (USGS) characterizes extra-heavy oil as having an API gravity of less than 10°. billion project will also include a refinery. Source: EIA.
A study by a team at the University Putra Malaysia concluded that the gasification of empty fruit bunch (EFB), a waste of the palm oil industry, could, if scaled up, produce hydrogen at a supply cost of $2.11/kg kg (delivered, untaxed, 2005$), independent of the pathway used to produce and deliver hydrogen. —Mohammed et al.
Petrobras announced a new oil discovery the Campos Basin post-salt layer (carbonate reservoirs), with the drilling of well 1-BRSA-713-RJS (1-RJS-661), informally known as Aruanã, in Exploratory Concession BM-C-36 (block C-M-401), which is operated exclusively by Petrobras. The Aruanã discovery in the Campos Basin. Click to enlarge.
A new study by the Peterson Institute for International Economics concluded that the Kerry-Lieberman “American Power Act”—the energy and climate change legislation recently introduced in the Senate ( earlier post )—would reduced US oil imports by 33-40% below current levels and by 9-19% below projected business-as-usual levels by 2030.
Converting oil shale to gasoline via the Alberta Taciuk Processor (ATP)—an above-ground shale retort—results in fuel-cycle greenhouse gas emissions of ~130-150 g CO 2 equivalent/MJ of gasoline produced, according to a new analysis by Dr. Adam Brandt at Stanford University. Mbbl of shale oil from 2.7 Credit: ACS.
South African energy and chemicals group Sasol today announced that it has chosen the southwestern region of the State of Louisiana as the site for a planned gas-to-liquids (GTL) facility. billion barrels of liquid fuels and chemicals from coal and natural gas. —Gas to Liquids Life Cycle Assessment Synthesis Report.
The US State Department has issued a Presidential Permit to Enbridge Energy, Limited Partnership to enable construction of the Alberta Clipper pipeline for the transport of crude oil from the Canadian oil sands to US refineries. This week, the RFA happened to issue two pieces, each touching on the impact of oil sands production.
Recent successful field tests at its Colony Mine with the Electrofrac process for converting the kerogen in oil shale to producible oil and gas is prompting ExxonMobil to try again for a research and development lease from the Interior Department for a larger trial. barrels of water for each barrel of oil produced, he said.
Total (operator, 37.5%) has made the final investment decision to develop the Vega Pleyade gas and condensate field offshore Tierra del Fuego, Argentina in the Southern Atlantic. Present in Argentina since 1978, Total, through its affiliate Total Austral, operates 30% of that country’s gas production.
Russia will increase oil output in East Siberia, Prime Minister Vladimir Putin said upon arrival in the Yakutian village of Tiksi. According to the Oil and Gas Journal ’s 2008 survey, as cited by the US EIA, Russia has proven oil reserves of 60 billion barrels, most of which are located in Western Siberia.
Research projects to study ways for improving the environmental performance of unconventional gas development are being sought by the National Energy Technology Laboratory (NETL), a facility of the US Department of Energy’s (DOE) Office of Fossil Energy. associated with unconventional gas development, including drill cuttings.
Despite the improvement, the image of the auto industry has merely recovered from the losses of the past two years, and is much less favorable than it was in 2001-2005, when positive ratings significantly outnumbered negative ones. The automobile industry now ranks in the middle of the list of 25 business industries and sectors rated 5-8 Aug.
Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. below 2005 levels. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.
Environment Canada recently released a consultation paper on the development of proposed regulations to limit greenhouse gas (GHG) emissions from new on-road heavy-duty vehicles. The US announced first-ever fuel efficiency and greenhouse gas emission standards for medium- and heavy-duty vehicles earlier in August. Earlier post.).
People might be bored reading about the Prius but a review on four Priuses (2004, 2005, two 2006s) that my family owns that ran a total of 913k km (570k miles) should be interesting, right? The fourth one, a 2005, I bought for myself last year with 222k km (128k miles) with a full service history. Priuses can burn oil.
for an algae-oil derived renewable F-76 shipboard fuel for the US Navy. DESC also awarded Sustainable Oils, LLC a $2.7-million Marine GasOil. Overall challenges include 20+ ship classes; 107 diesel engine models; 7 gas turbine models; 3 boiler models; and operational issues. million contract to Solazyme, Inc.
Dominion Energy announced a significant expansion of the company's greenhouse gas emissions-reduction goals, establishing a new commitment to achieve net zero emissions by 2050. The goal covers carbon dioxide and methane emissions, the dominant greenhouse gases, from both electricity generation and gas infrastructure operations.
Shale gas offsets declines in other US supply to meet. The Annual Energy Outlook 2011 (AEO2011) Reference case released yesterday by the US Energy Information Administration (EIA) more than doubles the technically recoverable US shale gas resources assumed in AEO2010 and added new shale oil resources. Source: EIA.
introduced legislation that would set an escalating fee on greenhouse gas emissions from large stationary sources to fund investments in energy efficiency and sustainable energy technologies and also provide rebates to consumers to offset increases in energy prices. Bernie Sanders (I-Vt.) and Barbara Boxer (D-Calif.) Rebate program.
Growth of production of Canadian oil sands. The Canadian oil sands are now poised to become the number one source of US crude oil imports in 2010, according to new research from the IHS CERA Canadian Oil Sands Dialogue. The Role of Canadian Oil Sands in US Oil Supply”. Conventional oil uses 0.1
Estimates of how much crude oil humans have extracted from the planet vary wildly (as do estimates on how much remains). UK researchers have published a new estimate of total crude oil extracted in the International Journal of Oil, Gas and Coal Technology that suggests we may have used more than we think. Resources.
Founded in 2005 by leaders in synthetic biology, Viridos quickly established itself as a powerhouse for innovative research, transplanting the first genome, synthesizing the first bacterial genome and creating the first synthetic cell. —Vijay Swarup, vice president of Research and Development at ExxonMobil.
with an Approval in Principle (AiP) for its Kamsarmax GF Bulk Carrier, which has been designed for dual-fuel operation, using both Liquefied Natural Gas (LNG) and Fuel Oil. GF is an abbreviation for Gas Fuel. Tsuneishi Shipbuilding first designed/developed and named the ship category ‘Kamsarmax’ in 2005.
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