Green Car Congress

NOVEMBER 15, 2012

Average values for WTW GHG emissions for oil sands and other crudes, tight boundary. When the oil sands products refined in the United States are considered—a mixture of oil sands and lower-carbon blending components—the GHG emissions are, on average, 9% higher than the average crude processed in the US.

Oil-Sands 388

Oil-Sands Oil Emissions United States 388

Green Car Congress

SEPTEMBER 29, 2012

Russian oil and gas major Rosneft, 75% owned by the government, will invest $16 billion in a planned joint venture project with Venezuela’s state oil and gas company PDVSA to develop the Carabobo 2 block in the southern Orinoco extra-heavy crude belt in Venezuela, according to Rosneft CEO Igor Sechin.

Venezuela 257

Venezuela Oil Oil-Sands Gas-Electric 257

Green Car Congress

JANUARY 19, 2012

Argentina and Venezuela will form a joint venture targeting production of 100,000 barrels of extra-heavy oil per day in the Junin field area of the Orinoco Oil Belt. The US Geological Survey (USGS) characterizes extra-heavy oil as having an API gravity of less than 10°. billion project will also include a refinery.

Venezuela 210

Venezuela Argentina Oil Oil-Sands 210

Green Car Congress

AUGUST 24, 2011

Petróleos de Venezuela SA (PDVSA) and PetroChina recently signed the Project for Development and Establishment of a joint venture to realize the future development of the Nanhai refinery. Oil and Gas Journal (OGJ) pegged Venezuela’s 2011 reserves at 211 billion barrels, up from 99.4 billion barrels the year before.

Saudi Arabia 186

Saudi Arabia Venezuela Oil Oil-Sands 186

Green Car Congress

MAY 24, 2013

Russian oil and gas major Rosneft, 75% owned by the government, and the Venezuelan Corporacion Venezolana del Petroleo (CVP), a subsidiary of PDVSA, signed an agreement to create a joint venture to develop heavy oil reserves in Venezuela in the framework of the Carabobo-2 project. oil sands). Earlier post.

Oil 186

Oil Oil-Sands Venezuela Canada 186

Green Car Congress

FEBRUARY 25, 2016

But these are just the costs of lifting oil out of the ground. State-owned oil companies often have many more responsibilities than just producing oil. It’s hard to measure costs when this oil has to pay for all the luxuries of the Saudi royal family. Venezuela is already on its knees.

Saudi Arabia 150

Saudi Arabia Oil Oil-Sands Iraq 150

Green Car Congress

APRIL 27, 2017

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. Oil discoveries declined to 2.4

Oil 150

Oil 2016 Oil-Sands Global 150