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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

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billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. billion oil-equivalent barrels at year-end 2017. During 2017, proved additions at Upper Zakum in Abu Dhabi totaled more than 800 million barrels of crude oil. Resource Base. Exxon Mobil Corporation added 2.7

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EIA: world energy consumption to grow 56% 2010-2040, CO2 up 46%; use of liquid fuels in transportation up 38%

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World energy consumption by fuel type, 2010-2040. The US Energy Information Administration’s (EIA’s) International Energy Outlook 2013 (IEO2013) projects that world energy consumption will grow by 56% between 2010 and 2040, from 524 quadrillion British thermal units (Btu) to 820 quadrillion Btu. Source: IEO2013.

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Oil sands growth to push Canadian crude production to about 4.7M bpd in 2025, up 67% from 2010; in situ production takes lead in 2016

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Canadian oil sands & conventional production. Oil sands growth will drive Canadian crude oil production to about 4.7 million bpd in 2010—a 67% increase— according to the latest forecast from the Canadian Association of Petroleum Producers (CAPP). The forecast sees oil sands production rising from 1.5

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Startup New Oil Resources commercializing hydrothermal process for conversion of biomass to gasoline-range hydrocarbons

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The basic New Oil process. Louisiana-based startup New Oil Resources (NOR) is commercializing a near-critical (i.e., New Oil Resources licensed the technology (US Patent 6,180,845 ) in 2009 from Louisiana State University (LSU); the original developers of the process are Drs. Click to enlarge. Gary Miller.

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Average carbon intensity of oil sands production has dropped ~36% in last 40 years; still 12-24% higher than conventional oil CI

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The carbon intensity (CI) of Alberta oil sands production has significantly decreased over the last 40 years, according to a new study by a team from Stanford University published as an open access paper in the journal Environmental Research Letters. System boundary for mining & upgrading pathway.

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US and Mexico sign agreement for development of transboundary oil and gas resources in Gulf of Mexico; access to nearly 1.5M acres of US Outer Continental Shelf

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The US and Mexico have signed an agreement on the exploration and development of oil and natural gas reservoirs along the United States’ and Mexico’s maritime boundary in the Gulf of Mexico. As a result of this Transboundary Agreement—which Presidents Obama and Calderon had committed in 2010 to reaching—nearly 1.5

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California Air Resources Board readopts Low Carbon Fuel Standard, adopts regulation on alternative diesel fuels

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The Air Resources Board re-adopted a Low Carbon Fuel Standard ( LCFS ), which requires a 10% reduction by 2020 in the carbon intensity of transportation fuels. The average carbon intensity requirements for years 2016 to 2020 reflect reductions from revised base year (2010) CI values for CaRFG (98.47). [ Diesel and Diesel Substitutes.

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