article thumbnail

GE study finds 5% of worlds natural gas production wasted per year by flaring

Green Car Congress

If half of this flare gas (25 bcm per year) was captured and sold at prevailing domestic prices in Russia, the economic opportunity may exceed US$2 billion (65 billion rubles). Elsewhere in West Africa, Angola, Equatorial Guinea, Gabon, Congo and Cameroon collectively waste about 10 billion cubic meters of natural gas every year.

Waste 260
article thumbnail

INPEX and Total launch the $34B Ichthys offshore Australia LNG Project; entire 8.5 Mt/y LNG output already sold for 15 years

Green Car Congress

million tons per year) has already been sold for 15 years under oil-linked price contracts, mostly directed to third-party consortiums of Taiwanese and Japanese buyers including INPEX. The group has interests in LNG projects in Indonesia, Nigeria, Norway, Oman, Qatar, the United Arab Emirates, Yemen, Angola, and Russia.

Australia 210
article thumbnail

Pensana plans $125M rare earth separation facility in England

Green Car Congress

The Saltend plant would purify rare earth sulfates, which would be imported from the company’s Longonjo mine in Angola. Angola is focused on diversifying its economy away from depending on oil, gas and diamonds, towards tourism, agriculture and value-added resource development. —Ursula von der Leyen EU President, February 2021.

Angola 345
article thumbnail

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

Green Car Congress

OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. percentage points. Their share of OPEC output increased to 26.6

article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ). percent of GDP in 2014. Natural gas data from Gazprom). billion respectively).

Russia 150
article thumbnail

ExxonMobil Reserves Replacement in 2008 Was 103% of Production

Green Car Congress

These additions assume the long-term pricing basis that the corporation uses to make its investment decisions, rather than single-day, year-end pricing. Proved additions were also made in a diverse range of countries including the United States, Norway, Nigeria, Angola and Australia. billion oil-equivalent barrels.

2008 150