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Woodside approves investment in $7.2B Trion development in deepwater Gulf of Mexico; first oil in 2028

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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 investment is expected to deliver an internal rate of return (IRR) greater than 16% with a payback period of less than four years.

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

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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.

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IEA trims expected growth in oil demand for 2012/2013 by 300K–400K barrels per day

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The International Energy Agency’s August Oil Market Report (OMR) trims 2012/2013 oil demand expectations by 300-400 thousand barrels per day (kb/d), although annual growth remains in an 800-900 kb/d range both years. This follows baseline data revisions and a weaker economic prognosis for 2012/2013. mb/d and 90.5

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

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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. It is the second-largest oil producer in the UK North Sea.

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Oak Ridge-GM prototype low-viscosity ionic liquid-additized engine oil delivers 2% fuel economy improvement over 5W-30

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Prototype low-viscosity ionic liquid-additized engine oil demonstrated a 2% improved fuel economy compared to Mobil 1 5W-30 engine oil (3.93% over the 20W-30 baseline oil) in standard fuel efficiency engine dynamometer tests. 1%) in nonpolar hydrocarbon oils.

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Boeing, COMAC open facility to transform gutter oil into aviation biofuel

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of China (COMAC) opened a demonstration facility that will turn waste cooking oil, commonly referred to as “gutter oil” in China, into sustainable aviation biofuel. billion liters) of biofuel could be made annually in China from used cooking oil. Boeing and Commercial Aircraft Corp.

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ICCT study examines current & projected use of heavy fuel oil in Arctic shipping; growth in BC emissions points to need for policies

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A new study by the International Council on Clean Transportation (ICCT) estimates heavy fuel oil (HFO) use, HFO carriage, the use and carriage of other fuels, black carbon (BC) emissions, and emissions of other air and climate pollutants for the year 2015, with projections to 2020 and 2025. Click to enlarge.

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