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Samsung Heavy Industries and DNV GL sign partnership for new LNG carrier designs

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Ltd (SHI) signed a joint development project (JDP) agreement focused on the development of new designs for LNG carriers. The JDP aims to develop two 30K (30,000 m 3 ) LNG carrier designs, one with membrane-type LNG tanks and one with type-C (pressurized) LNG tanks. DNV GL and Samsung Heavy Industries Co.,

Design 170
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GlobalData: best performing wells in Permian break-even at as low as US$22 per barrel

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During the last three years, companies operating in the Permian basin have drilled much longer laterals and used substantially more complex well completion design in their newer wells with the aim of reaching higher initial production (IP) rates. On 25 June, the price of a 42-gallon barrel of West Texas Intermediate Crude (WTI) was $68.08.

Oil 236
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BP approves revamped $9B Mad Dog Phase 2 project in the deepwater Gulf of Mexico; down from original $20B cost

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BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Since then, BP has worked with co-owners and contractors to simplify and standardize the platform’s design, reducing the overall project cost by about 60%. In 2013, BP (operator, with 60.5%

Mexico 150
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Indianapolis plans to add 425 PHEVs and BEVs to municipal fleet by 2016

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America’s dependence on oil ties our national and economic security to a highly-unpredictable, cartel-influenced global oil market. Diversifying the types of vehicles and fuels available to our drivers offers our city protection from often-volatile oil prices and better prepares us for the future.

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Shell to halt 80K bpd Carmon Creek oil sands project

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Shell originally sanctioned the project in October 2013 and announced in March 2015 that the project would be re-phased to take advantage of the market downturn to optimize design and retender certain contracts. This is forcing tough choices at Shell. —Chief Executive Officer, Ben van Beurden.

Oil-Sands 150
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Purdue study projects that under likely adoption rates, use of biojet fuel alone will not meet aviation emissions reduction targets for 2050; the need to go above 50% blends

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Uncertainty range of the aviation GHG emissions under the High Oil price scenario (the most optimistic for biojet adoption), given in a box plot depicting the minimum, quartile, and maximum values. With biojet options, under the high oil price scenario (the most optimistic for biojet adoption), the median (i.e.,

Emissions 225
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IIASA: removing fossil fuel subsidies will not reduce CO2 emissions as much as hoped

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However, the study found that the growth of CO 2 emissions by 2030 would only be 1-5% lower than if subsidies had been maintained, regardless of whether oil prices are low or high. This is facilitated by today’s low oil prices. But well-designed policies can achieve subsidy removal without affecting the poor.

Emissions 186