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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. billion, while the Middle East and Africa are forecast to spend $229.6

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ExxonMobil plans five-year investment of $185B to develop new energy supplies; 21 major oil and gas projects to begin production between 2012 and 2014

Green Car Congress

Exxon Mobil Corporation plans to invest approximately $185 billion over the next five years to develop new supplies of energy to meet expected growth in demand, Chairman and CEO Rex W. A total of 21 major oil and gas projects will begin production between 2012 and 2014. billion oil equivalent barrels.

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Suncor Energy and Petro-Canada To Merge

Green Car Congress

Canadian energy companies Suncor Energy Inc. Upon completion of the transaction, the combined entity will operate corporately and trade under the Suncor name, while maintaining the brand presence of Petro-Canada in refined products. Current crude oil and natural gas production of approximately 680,000 boe per day (boe/d).

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Report Finds Water Stress Rapidly Becoming Key Strategic Risk to Commerce; Impending Water/Energy Collision

Green Car Congress

Among the increasing challenges is that while the sourcing, processing, and delivery of clean water is becoming more energy-intensive, the extraction and refining of fossil fuels and their substitutes is trending towards increasing water requirements per unit of fuel produced as energy companies work with progressively lower grade resources.

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Noble Energy announces new exploration discoveries offshore Israel and in the deepwater Gulf of Mexico

Green Car Congress

The well encountered high-quality reservoir sands, with per well productivity anticipated to be approximately 250 million cubic feet of natural gas per day. At Dantzler, wireline logging data indicates that the well encountered over 120 net feet of primarily crude oil pay in two high-quality Miocene reservoirs. with 20 percent.

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The right way to get oil-rich West Asia to pressure electrical vehicles? Chinese language EV makers contemplate

Baua Electric

Around the six Gulf states, together with oil majors Saudi Arabia and the United Arab Emirates, electrical vehicles account for simply 0.4% That’s made the region a welcoming investment prospect and could help Chinese companies more easily access potential new funds and even skirt tightening import regulations in Western markets.