article thumbnail

S&P Global: More than 75% of oil and gas production in US Gulf of Mexico has lower than average greenhouse gas intensity

Green Car Congress

More than three-fourths of all oil and gas production in the US Gulf of Mexico has a lower greenhouse gas (GHG) intensity than the basin-wide average, according to a new S&P Global Commodity Insights analysis. However, about 78% of the total production was found to be beneath that average.

Mexico 150
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. Trion was discovered in 2012 by PEMEX. Trion is a greenfield development that would represent the first oil production from Mexico’s deepwater. The resource will be developed through a floating production unit (FPU) with an oil production capacity of 100,000 barrels per day.

Mexico 195
article thumbnail

China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

Green Car Congress

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.

Oil-Sands 325
article thumbnail

Annual global oil & gas capital expenditure to pass $1-trillion mark in 2012

Green Car Congress

Increased activity in the Exploration and Production (E&P) sector will be the primary driver in pushing oil and gas capital expenditure (capex) to $1.039 trillion for 2012, according to the latest report by business intelligence firm GlobalData. of the 2012 global total. billion, representing a share of 24.5%

Oil 210
article thumbnail

California Governor orders end to fracking by 2024, instructs CARB to analyze pathways to phase out oil-production by 2045

Green Car Congress

Additionally, Governor Newsom requested that the California Air Resources Board (CARB) analyze pathways to phase out oil extraction across the state by no later than 2045. California’s production of oil has been steadily dropping since 1985. According to the California Energy Commission, California oil represented 34.9%

Oil 221
article thumbnail

New study confirms extensive gas leaks in the North Sea; recommends stricter guidelines for handling of abandoned wells

Green Car Congress

Researchers from the GEOMAR Helmholtz Center for Ocean Research Kiel have found that considerable quantities of the greenhouse gas methane escape uncontrolled into the water from abandoned oil and gas wells in the North Sea. The most important factor was indeed the distance of the wells from the gas pockets. Haeckel, M.

Gas 273
article thumbnail

The $32-Trillion Push To Disrupt The Entire Oil Industry

Green Car Congress

Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. by Cyril Widdershoven for Oilprice.com.

Oil 231