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IHS Markit: conventional oil & gas discoveries at lowest levels in 70 years; major rebound unlikely

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Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by global business information provider IHS Markit. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.

Oil 199
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Texas: From Shale Boom to Water Revolution

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Texas is famous the world over for two things on a massive scale: oil and droughts. Now the slick but dry state is becoming famous for water: that precious element that both resolves the drought problem and also makes it possible to pump more oil out of the ground. A Water Revolution Takes Root.

Water 150
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Novozymes launches commercial enzyme technology to convert waste oils into biodiesel

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Biodiesel producers can thereby use cooking oil or other lower grade oils as biodiesel feedstock, reducing their raw material costs. Growing demand for vegetable oil in the food industry has resulted in increased prices, causing biodiesel producers to search for alternative—and more sustainable—feedstocks.

Waste 225
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When Will Russia Run Out Of Oil?

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On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 Russia’s Oil Production 1970-2020 and Russia’s Deep-Hole Oil & Gas Exploration Drilling. In 2016, only 3.7

Russia 150
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SDTC awards Nsolv $13M to commercialize warm solvent technology for heavy oil extraction; 80% reduction in GHG emissions

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Sustainable Development Technology Canada (SDTC) is awarding Nsolv $13 million in grant funding to commercialize its field-tested, proprietary warm solvent technology for in situ heavy oil extraction without the use of steam. Naturally occurring water and non-condensable gases are also carried along and out of the reservoir.

Oil 150
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US offshore oil and gas leasing plan for 2017-2022 focuses on Gulf of Mexico, excludes Arctic

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Given the unique and challenging Arctic environment and industry’s declining interest in the area, forgoing lease sales in the Arctic is the right path forward. The vast majority of US offshore oil production occurs in the Gulf of Mexico. —Secretary Jewell. Areas off the Atlantic coast are not included in this program.

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Berkeley Lab releases 8th edition of databook on China’s energy and environment; finding the “missing” energy consumption

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We have gathered statistical information on energy and energy demand drivers from all different resources, such as the China Environment Yearbook , the Transportation Yearbook , the Power Yearbook , the Iron and Steel Yearbook , the Cement Almanac , statistics of oil companies and power companies.