Remove China Remove Economy Remove Oil-Sands Remove Resource
article thumbnail

JAPEX to invest 65-70B in further oil sands development in Canada

Green Car Congress

(JAPEX) plans to invest ¥65-70 billion (US$830–893 million) in its Canadian oil sands projects, Chief Executive Osamu Watanabe told Dow Jones Newswires. China’s biggest offshore oil and gas producer, said it will buy Canadian oil-sands developer OPTI Canada Inc. Earlier Wednesday, CNOOC Ltd.,

Oil-Sands 186
article thumbnail

EIA projects world energy use to increase 53% by 2035; oil sands/bitumen and biofuels account for 70% of the increase in unconventional liquid fuels

Green Car Congress

Worldwide energy consumption will grow by 53% between 2008 and 2035 with much of the increase driven by strong economic growth in the developing nations, especially China and India, according to the reference case in the newly released International Energy Outlook 2011 (IEO2011) from the US Energy Information Administration (EIA).

Oil-Sands 220
article thumbnail

Shell signs new offshore upstream deals with CNOOC and CNPC; China and Gabon

Green Car Congress

Shell has signed two offshore oil and gas Production Sharing Contracts (PSCs) with CNOOC, and a PSC amendment with CNPC for a new development phase for the Changbei gas field in China. The two offshore oil and gas PSCs with CNOOC are for blocks 62/02 and 62/17 in the Yinggehai Basin. Shell will remain operator with 75% interest.

Gabon 218
article thumbnail

UT Austin to lead $58M study of methane hydrate in Gulf of Mexico; $41M from DOE

Green Car Congress

The grant, one of the largest ever awarded to the university, will allow researchers to advance the scientific understanding of naturally occurring methane hydrate so that its resource potential and environmental implications can be fully understood. Accordingly, other countries with high energy demands or limited resources—e.g.

Mexico 294
article thumbnail

Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

Green Car Congress

As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil. oil may not be able to fill.

article thumbnail

ExxonMobil Outlook: 35% growth in energy demand by 2040; hybrids to account for ~50% of new vehicle sales

Green Car Congress

Anticipated population growth will reach nearly 9 billion in 2040 from about 7 billion today, and the global economy is projected to double—at an annual growth rate of nearly 3%—largely in the developing world. billion, as the world’s population grows and more people in developing economies are able to afford cars.

Oil-Sands 309
article thumbnail

RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

Green Car Congress

However, the US military can play an important role in promoting stability in major oil producing regions and by helping protect the flow of energy through major transit corridors and on the high seas, the reports suggest. Earlier post.). Unless addressed, pipeline security issues will impede investment in Turkey, Bartis suggested.

Price 225