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IHS Markit: Canadian oil sands production to be ~1M barrels higher by 2030 but with lower annual growth; boosted by deterioration in Venezuela

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Future growth will mostly come from existing projects and facilities as opposed to new projects, according to the forecast. —Kevin Birn. IHS Markit not only expects the growth profile for oil sands to be different in the coming decade but the drivers of growth will also be fundamentally different.

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PDVSA and PetroChina move ahead with 400,000 barrel per day oil refinery in China; processing Orinoco heavy and extra-heavy crude

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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.

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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. Nigeria’s dilemma.

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Future Ford F-150 MPG, Electric Motorcycle Guide, 5-Cent Gasoline: Today's Car News

Green Car Reports

Today on Green Car Reports: We look at what could raise fuel efficiency in the next Ford F-150 pickup truck, we run down electric motorcycle options this year, and cheer the passing of Venezuela''s soon-to-vanish gas price: 5 cents per gallon. All this and more on Green Car Reports.

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

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To this end, the GECF Secretary General reiterated the GECF’s readiness to support the Turkmen industry as it undergoes transformation on the back of the future energy trends, digitalization, and climate action.

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EIA: US importing more crude from Canada, even as total imports falling; 25% of imports in 2011, 28% so far in 2012

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The vast majority of Canada’s reserves and the expected future growth in Canada’s liquids production will derive from unconventional resources. Canada is the largest supplier of foreign oil to the United States, followed by Saudi Arabia, Mexico, and Venezuela. Almost 99% of Canadian oil exports are sent to the US market.

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IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

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It brings an additional cause of concern for global energy security at a time of heightened geopolitical risks in some major producer countries, such as Venezuela, the IEA said. The key question for the future of the oil market is for how long can a surge in US shale supplies make up for the slow pace of growth elsewhere in the oil sector.

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