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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. —Secretary General Sentyurin.

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bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

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The Review captures the significant impact the global pandemic had on energy markets and how it may shape future global energy trends. Natural gas prices declined to multi-year lows; however, the share of gas in primary energy continued to rise, reaching a record high of 24.7%. million b/d) and non-OPEC (-2.3

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The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

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The skepticism shown by a majority of financial analysts and oil commentators about the real threat to global oil (and gas) production volumes was countered by the news that the production at Saudi Aramco’s main offshore oil field, Manifa, has been hit by technical problems. Amin Nasser’s aim is to go beyond global oil markets.

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US Shale Is Now Cash Flow Neutral

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Wood Mackenzie suggests that $55 per barrel is a sweet spot for the oil and gas industry to rebound, a level that is only slightly above today’s prices. The US dollar is at its strongest level in nearly a decade, which will weigh on global crude oil demand. If we go back down to $50 (or lower) in 2017.then

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Opinion: How Much Longer Can OPEC Hold Out?

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With the huge reduction in its revenues and growing discomfort among its members such as Venezuela, Libya and Nigeria over its current production levels, is OPEC really getting weaker? Containing some of the largest proven oil and gas reserves in the world, Venezuela is one of the founding members of OPEC. Venezuela’s Woes.

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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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While the Department of Defense (DoD) is one of the world’s largest fuel users, its consumption of about 340,000 bpd is a small fraction (less than one-half of 1 percent) of global petroleum demand. In the lead report, Bartis notes that global oil supplies are finite and thus, at some point, oil production must peak. Additionally, U.S.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Putin has highlighted on various occasions the contribution Russia’s mineral wealth, in particular oil and natural gas, must make for Russia to be able to sustain economic growth, promote industrial development, catch up with the developed economies, and modernize Russia’s military and military industry. percent of GDP in 2014.

Russia 150