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This fall was driven mainly by oil, which accounted for almost three quarters of the net decline. Natural gas prices declined to multi-year lows; however, the share of gas in primary energy continued to rise, reaching a record high of 24.7%. World oil production fell for the first time since 2009 by 6.6 The US (-2.3
New research by the IHS Markit Canadian Oil Sands Dialogue shows that the combined greenhouse gas (GHG) intensity of Canadian oil sands projects has declined 20% from 2009 levels. The latest data show that the greenhouse gas intensity of Canadian oil sands going down further, continuing a decade-long trend.
The ratio between the spot prices of crude oil and natural gas has been generally increasing since January 2009, but it has climbed rapidly in recent months, according to data from the US Energy Information Administration (EIA). The crude oil-to-natural gas spot price ratio has implications for production and consumption.
million bbl/d in 2009-2010. 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. —US EIA. Source: EIA.
The Jakarta Post reported that Chinese oil and gas firm PetroChina will increase its investment in oil and gas exploration and development in Indonesia by 30% this year to boost oil lifting and counteract declining production.
Marathon Oil Corporation announced that its Droshky development in the deepwater Gulf of Mexico has begun production on time and under budget. At a final development cost of less than $900 million, the initial stage of development is expected to produce 35 million of the estimated 60 million barrels of oil equivalent (boe) net resource.
The results of nearly four decades of oil and natural gas research supported by the US Department of Energy (DOE) are now available through the Society of Petroleum Engineers (SPE) OnePetro online document repository. The KMD debuted at the SPE Annual Technical Conference and Exhibition in October 2009.
Used Priuses, especially the Generation 2 that were made from 2004 to 2009 are becoming a bargain to buy, especially for the MPG and features you get in return. On the way there, I made a pit stop at a gas station to buy a bottle of champagne as a gift, hoping to start out a conversation with a stranger on the right foot.
Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9
United States M&A activity for upstream oil and gas deals set records in 2011 for both deal values and deal counts, according to PLS, Inc., a provider of information, marketing and advisory services for the oil and gas industry. We expect continued strong activity in oil and liquids-rich resource plays in 2012.
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.
Jaguar has unveiled the C-X75 concept, an extended range electric vehicle that uses twin gas micro-turbines from Bladon Jets to power two switched reluctance generators from SR Drives. The driver and passenger are seated ahead of a sealed airbox that houses the micro gas-turbines. Click to enlarge. Earlier post.) C-X75 powertrain.
Neste Oil has successfully started up Europe’s largest renewable diesel plant in Rotterdam in the Netherlands. The Rotterdam plant has a capacity of 800,000 t/a and will increase Neste Oil’s total renewable diesel capacity to 2 million t/a. The plant was completed on-schedule and on-budget.
Despite the continued economic crisis, global emissions of carbon dioxide, the main greenhouse gas, have remained constant in 2009 as strong increases in CO 2 emissions from fast-growing developing countries such as China and India, have completely nullified CO 2 emission reductions in the industrialized world.
Italy-based oil and gas major Eni and PDVSA (Petróleos de Venezuela), the state-owned oil and gas corporation of the Bolivarian Republic of Venezuela, signed contracts for the creation of two joint ventures (Empresas Mixtas, Mixed Enterprises). billion barrels of oil equivalent). billion of net reserves.
Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by global business information provider IHS Markit. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.
Saudi Aramco, the state-owned national oil company, has selected GE for agreements totaling nearly $500 million to supply a broad range of equipment and services for an expansion of the Shaybah gas-oil processing facilities. billion standard cubic feet per day (scfd) of low-sulfur sweet gas and extract 264,000 bpd of NGL.
The ECO-H System is a patent-pending Hybrid Power Management System for the oil and gas industry developed by ECO-H Technologies and distributed by Tesco Corporation. Including these orders, Boeing has awarded a total of eleven contracts under its long-term agreement with Saft signed in 2009 to produce Li-ion GEO satellite batteries.
With a capacity of 58,000 bbl/d, its primary products include diesel fuel, jet fuel, heavy fuel oils, and liquefied petroleum gas. Much of the increase in demand has been fueled by the boom in crude oil production from the new wells in the Bakken Formation in North Dakota’s northwest corner.
million to address short- and long-term challenges facing the growing worldwide unconventional oil and gas industry. Shale gas is abundant, widely used, and a growing source of energy in the United States. Shell and The University of Texas at Austin signed a five-year agreement to invest $7.5
Using innovative seismic-based technologies developed with funding from the US Department of Energy (DOE), a Kansas drilling company has discovered an untapped, 10-foot-thick oil zone in a developed Colorado reservoir. discovered the oil zone near Cheyenne Wells, Colo., Mull Drilling Company of Wichita, Kan.,
Total will not use carbon capture technology in the first phase of its Joslyn North Mine oil sands project, citing excessive cost. In 2009, the company suggested it was considering carbon capture and storage in its oil sands projects in Canada. In July, Total E&P Canada Ltd. Earlier post.).
Repsol and Alliance Oil Company have signed a Memorandum of Understanding to form a joint exploration and production (E&P) venture that will serve as a growth platform for both companies in the Russian Federation, the world’s largest oil and gas producer. Repsol also owns a 74.9%
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.
Three of Australia’s largest coal-fired power generators have committed to building test facilities adjacent to their power stations using MBD’s proprietary growth system, the Algae Synthesizer, where smoke-stack CO 2 emissions are captured and used to grow oil-rich algae in solar bioreactors.
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 Brandt, 2009.
Each year, 80 million tonnes of oil are shipped off Canada’s East and West Coasts. Oil tankers have been moving along Canada’s West Coast since the 1930s. In 2009-2010, there were about 1,500 tanker movements on the West Coast, among 475,000 vessel movements in the area. In 2009, about 8.4
Under van Wijk’s concept, a plant would produce methanol from natural gas on the North Slope using the proposed GigaMethanol technology. Under van Wijk’s concept, a plant would produce methanol from natural gas on the North Slope using the proposed GigaMethanol technology. If the entire daily output of North Slope gas (4.5
Researchers from Japan and Mexico have developed a one-step hydrotreatment process over catalysts containing Ni-Mo and solid acids for the conversion of vegetable oils (Jatropha, palm and canola) to renewable diesel and LPG fuels. Jatropha oil produced the highest yield (wt %) of renewable diesel (83.5%), with 4.9%
China Yuchai International Limited’s main operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL) has inaugurated a new project to develop and produce a full portfolio of natural gas powered engines to complement its existing suite of diesel engines. China’s 12 th Five-Year Plan targets natural gas to make up 8.3%
Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. Under the WEO 2011 central scenario, oil demand rises from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035, with all the net growth coming from the transport sector in emerging economies. Click to enlarge. billion in 2035.
in 2009, the first decrease recorded this decade, according to an addendum to an earlier study outlining a method for updating global fossil fuel carbon dioxide emissions published in the journal Environmental Research Letters. In contrast to many other countries, China and India increased their emissions in 2009.
A consortium led by micro gas turbine company Bladon Jets recently secured investment from the UK Technology Strategy Board to develop an Ultra Lightweight Range Extender (ULRE) for next-generation electric vehicles. Bladon Micro-Jet Engines are 100% axial-flow, gas turbine engines for use in a variety of applications. Earlier post.).
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.
Shale oil production generates greenhouse gas emissions at levels similar to conventional crude oil production, according to a pair of new studies released by the US Department of Energy’s Argonne National Laboratory. These are shale formations with low permeability and must be hydraulically fractured to produce oil and gas.
Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Click to enlarge. Source: Chevron. Click to enlarge.
The partnership will see BP taking a 30% stake in 23 oil and gas production sharing contracts that Reliance operates in India, including the producing KG D6 block, and the formation of a 50:50 joint venture between the two companies for the sourcing and marketing of gas in India. India’s gas consumption was 5.0
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.
Shell, as operator of the Athabasca Oil Sands Project (AOSP), announced the successful start of production of a 100,000 barrels per day expansion of its oil sands operations in Canada. The Jackpine Mine adds capacity of 100,000 barrels of oil equivalent (boe) per day to the existing Muskeg River Mine capacity of 155,000 boe per day.
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.
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%
Neste Oil has started up the world’s largest renewable diesel plant in Singapore. The plant was completed on-schedule and on-budget and marks a major step forward in Neste Oil’s clean traffic fuel strategy. NExBTL enables a 40-80% reduction in greenhouse gas emissions to be achieved compared to fossil diesel.
Since 2009, China has been taking a much more active role in its pursuit of international oil contracts. In 2009, for the first time, Saudi Arabia exported more of its oil to China than it did to the U.S. China also made large investments in Saudi Arabia’s oil refining industry as well.
billion went to traditional sources—such as coal and oil—and $2.3 billion went to carbon capture and storage, which is designed to reduce greenhouse gas emissions from coal-fired power plants. US subsidies for fuels and renewable energy, 2002-2008. Nuclear was not included in the analysis. Source: Adeyeye et al. Click to enlarge.
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