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GECF: more than a quarter of 2050 natural gas supply untapped

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Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF). Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference.

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

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Gas-flaring countries and trends. A newly released GE study — Flare Gas Reduction: Recent Global Trends and Policy Considerations —estimates that 5% of the world’s natural gas production is wasted by burning or “flaring” unused gas each year, despite some progress on the flaring issue.

Waste 260
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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

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billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. ExxonMobil’s reserves life at current production rates is 14 years. Production from Liza Phase 1 is expected to begin by 2020, less than five years after discovery. Exxon Mobil Corporation added 2.7 Resource Base.

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ExxonMobil seeking to boost growth, continue work on lower-emissions technologies including biofuels and carbon capture

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During the meeting, Woods highlighted progress on major upstream projects that are expected to help increase production to about 5 million oil-equivalent barrels per day by 2025. Those projects include plans to increase production in the Permian Basin to 1 million oil-equivalent barrels per day by 2024. —Darren Woods.

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Sasol embarking on feasibility study on a US gas-to-liquids facility in Louisiana

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South African energy and chemicals group Sasol today announced that it has chosen the southwestern region of the State of Louisiana as the site for a planned gas-to-liquids (GTL) facility. billion barrels of liquid fuels and chemicals from coal and natural gas. —Gas to Liquids Life Cycle Assessment Synthesis Report.

Louisiana 210
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RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

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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. Alternative liquid fuels do not offer DoD a way to appreciably reduce fuel costs.

Price 225
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Equatorial Guinea, DRC to develop joint oil refinery and storage facilities

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The agreement provides for the establishment of a working group to achieve shared energy objectives and the implementation of specific projects. —Equatorial Guinea’s Minister Gabriel Mbaga Obiang Lima. West-Central Coastal Province, West Africa. —DRC Minister Didier Budimbu Ntubuanga.