EPA proposes new rulemaking for sharp cuts in methane emissions from oil and gas industry

Green Car Congress

The US Environmental Protection Agency (EPA) is proposing comprehensive new regulations to reduce methane emissions from the oil and natural gas industry—including, for the first time, reductions from existing sources nationwide.

Oil 224

IHS Markit: oil price collapse will change trajectory of North American gas supply

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The trajectory of North American gas supply is set to change radically as a result of the fall in oil prices that has occurred due to COVID-19 and the breakdown in production cooperation between OPEC and Russia, according to IHS Markit. Prior to the global pandemic, languishing North America gas demand and near-full storage was already pushing gas supply and prices to near-record lows in 2020. Bcf/d of gas. Market Background Natural Gas Oil

2020 188
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DOE to award up to $88M for oil and natural gas recovery research

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The Department of Energy’s (DOE’s) Office of Fossil Energy announced up to $88 million in federal funding for cost-shared research and development projects enhancing technologies for oil and natural gas recovery under two separate funding opportunity announcements (FOAs). According to the US Energy Information Administration (EIA), proved reserves of US crude oil and natural gas reached record highs in 2017, topping previous records at 39.2 natural gas production (32.7

2019 253

IHS Markit: oil sands greenhouse gas intensity declined 20% over past decade

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New research by the IHS Markit Canadian Oil Sands Dialogue shows that the combined greenhouse gas (GHG) intensity of Canadian oil sands projects has declined 20% from 2009 levels. The new analysis, using most recent data available, shows trends remaining in line with previous IHS Markit projections that oil sands GHG intensity will decline by at least 16 to 23% by 2030 (to a level 30% below 2009). This is important and it goes beyond just the oil sands.

Shell producing base oil from natural gas for motor oils

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Shell announced the production of the first clear base oil—the main component of motor oils—made from natural gas using its gas-to-liquids (GTL) PurePlus Technology. Shell PurePlus Technology is now being used to create motor oils for motorists in the United States. Pennzoil Platinum and Pennzoil Ultra Platinum Full Synthetic motor oils are the only ones blended exclusively with these GTL base oils. Gas-to-Liquids (GTL) Lubricating Oils

2014 244

Equinor Energy & Mitsubishi Heavy to collaborate on low-carbon technology to reduce carbon footprint of oil & gas operations

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The non-exclusive cooperation agreement will see both companies develop and use technology to reduce the carbon footprint of oil & gas operations. MHI has also further developed its advanced-class gas turbines to be capable of utilizing hydrogen, currently at 30%, and ultimately 100%. Carbon Capture and Storage (CCS) Emissions Hydrogen Market Background Natural Gas Oil

2020 176

3 Oil Majors That Bet Big On Renewables

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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects.

2020 341

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

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This fall was driven mainly by oil, which accounted for almost three quarters of the net decline. 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%.

2020 328

Researchers develop large-scale, economical method to extract hydrogen from oil sands and oil fields

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Canadian researchers have developed a large-scale economical method to extract hydrogen from oil sands (natural bitumen) and oil fields. The process can extract hydrogen from existing oil sands reservoirs, with huge existing supplies found in Canada and Venezuela. The process can also be applied to mainstream oil fields, causing them to produce hydrogen instead of oil. Oil fields, even abandoned oil fields, still contain significant amounts of oil.

White House: OPEC+ oil production increases “simply not enough”

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On Wednesday, US National Security Advisor Jake Sullivan issued a statement calling on OPEC+ to increase oil production: While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022.

Oil 224

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. The low levels in discoveries come as a result of a pullback during the past 10 years in the wildcat drilling that targets conventional oil and gas plays—most drastically after oil prices collapsed in 2014.

2019 183

China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

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CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. Nexen is focused on three core businesses: conventional offshore oil and gas; oil sands; and shale gas: Conventional oil and gas.

Berkeley Law’s CLEE report provides policy options for phasing out oil and gas production in California

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California is the seventh-largest oil-producing state in the US. The state’s crude oil production in 2018 was approximately 162 million barrels—mainly from onshore wells—down from 174 million barrels in 2017 and a recent high of 205 million barrels in 2014. Net natural gas production for 2018 was between 180 and 199 billion cubic feet—15 th in the nation (near the bottom of major gas-producing states, some of which produce trillions of cubic feet per year.

2020 150

Oil and Gas Climate Initiative to invest $1B over 10 years in low-emissions tech

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The Oil and Gas Climate Initiative (OGCI) will invest $1 billion over the next ten years to develop and to accelerate the commercial deployment of innovative low-emissions technologies. In a joint statement, the heads of the 10 oil and gas companies that comprise the OGCI said: The creation of OGCI Climate Investments shows our collective determination to deliver technology on a large-scale that will create a step change to help tackle the climate challenge.

2016 198

Researchers find abundance of oil-eating bacteria in northeast Atlantic

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A team of scientists from Heriot-Watt University has found the waters in the Faroe-Shetland Channel (FSC) are teeming with oil-eating bacteria. The FSC is a deepwater sub-Arctic region where the oil and gas industry has been active for the last 40?years. In the event of an oil spill, our results suggest that the response of these organisms is severely hindered by the low temperatures and nutrient levels that are typical for the FSC.

Oil 198

Study suggests microbe produces methane from crude oil all by itself

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Crude oil and gas naturally escape from the seabed in many places known as seeps. This microbe, an archaeon named Methanoliparia , transforms the hydrocarbons by a process called alkane disproportionation: it splits the oil into methane (CH 4) and carbon dioxide (CO 2 ). Epifluorescence microscopy picture of Methanoliparia-cells attached to a droplet of oil. (© Max Planck Institute for Marine Microbiology). Biotech Natural Gas Oil Ports and Marine

2019 236

Oil giant TotalEnergies extends EV chargers in its French gas stations

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The French oil mastodon TotalEnergies is making amends – and doubtless seeking to make a buck from renewables as well – by installing fast-charging stands for EV cars at its gas stations along France’s highway system.

New study confirms extensive gas leaks in the North Sea; recommends stricter guidelines for handling of abandoned wells

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Researchers from the GEOMAR Helmholtz Center for Ocean Research Kiel have found that considerable quantities of the greenhouse gas methane escape uncontrolled into the water from abandoned oil and gas wells in the North Sea.

2020 244

IEA: key oil trends 2018

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Total OECD annual production of crude oil, natural gas liquids (NGL), and refinery feedstocks increased by 10.3% Canadian production also increased on an annual basis (+8.1%), due to robust production of crude oil, while Mexico’s production continued to fall (-6.3%). The OECD Americas was responsible for 85% of total OECD production of crude oil, NGL and refinery feedstocks in 2018, with 56% of this being produced in the United States. Market Background Oil

2018 195

Opinion: Political Climate Shifting Against The Oil And Gas Industry

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Oil and gas companies have had a tough time over the past year trying to weather the storm of falling oil prices. Drilling oil and gas wells requires a lot of money. For companies that have seen their revenues vanish because of collapsing oil prices, access to credit is obviously critically important. Put another way, about 12 percent of all loans to oil and gas companies are rated “substandard” or worse. Market Background Oil Opinion

2015 197

68% of primary energy imports to US in 2018 was crude oil; 48% of US energy exports were petroleum products

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The majority (69%) of primary energy imported into the United States in 2018 was crude oil, with petroleum products and natural gas also having significant shares, according to the US Energy Information Administration (EIA). Market Background Oil

2020 242

DOE selects 6 projects for $30M in funding to boost unconventional oil and natural gas recovery

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The US Department of Energy (DOE) has selected six projects to receive approximately $30 million in federal funding for cost-shared research and development in unconventional oil and natural gas (UOG) recovery. The Institute of Gas Technology. This technology will be for initial stimulation/production as well as enhanced recovery via refracturing and enhanced oil recovery methods. Natural Gas Oil

2018 150

New USGS oil and gas assessment for Bakken and Three Forks formations boosts estimates of recoverable oil two-fold, natural gas three-fold

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The United States Geological Survey (USGS) released an updated oil and gas resource assessment for the Bakken Formation and a new assessment for the Three Forks Formation in North Dakota, South Dakota and Montana, resulting in a two-fold increase in the estimated technically recoverable oil, and a three-fold increase in estimated natural gas. The USGS assessment found that the Bakken Formation has an estimated mean oil resource of 3.65 Natural gas.

2013 220

California Governor orders end to fracking by 2024, instructs CARB to analyze pathways to phase out oil-production by 2045

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Additionally, Governor Newsom requested that the California Air Resources Board (CARB) analyze pathways to phase out oil extraction across the state by no later than 2045. California’s production of oil has been steadily dropping since 1985. Market Background Oil Policy Regulations

Oil 211

IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

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Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. Market Background Oil

2020 263

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

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The OCS Lands Act requires the Secretary of the Interior to prepare a Five-Year Program that includes a schedule of potential oil and gas lease sales and indicates the size, timing and location of proposed leasing determined to best meet national energy needs, while addressing a range of economic, environmental and social considerations. The vast majority of US offshore oil production occurs in the Gulf of Mexico. Arctic Oil Policy

2016 223

Joestradamus Foresees Terrible Trouble & Complete Collapse For Kings Of Stranded Assets. “I Got Your Just Transition Right Here,” Say Youth Hackers For Climate Justice.

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environment climate change climate crisis climate wreckers homegrown terrorists Just Transition monkeywrench oil and gas industry stranded assets

Siemens targeting Li-ion energy storage for marine and offshore oil and gas applications; 6MW system to West Mira rig

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As part of a strategy to continue providing low-emissions solutions for harsh offshore operating environments, Siemens has opened a fully robotized and digitalized plant in Norway that will develop and manufacture energy storage technologies for both marine and offshore oil and gas applications. Batteries Oil Ports and Marine

2019 208

Sinopec proves 100-billion-cubic-meter natural gas reserve in Sichuan Basin

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Sinopec (China Petroleum & Chemical Corporation) has proved another 34.029 billion cubic meters of natural gas at the Zhongjiang Gas Field, bringing the total known natural gas reserves in the Sichuan Basin to 106.1 The Zhongjiang Gas Field (Zhongjiang County of Deyang City) main gas reservoir has a depth of 2,000-3,000 meters and covers an area of 404.9 trillion cubic feet (Tcf) of natural gas in 2019, 8% higher than in 2018.

Gas 172

Study quantifies impact of oil and gas emissions on Denver’s ozone problem

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The first peer-reviewed study to directly quantify how emissions from oil and natural gas (O&NG) activities influence summertime tropospheric ozone (O 3 ) pollution in the Colorado Front Range confirms that chemical vapors from oil and gas activities are a significant contributor to the region’s chronic ozone problem. VOCs can come from both natural sources like trees and anthropogenic ones, like oil and gas activities. Emissions Health Natural Gas Oil

Denver 150

EPA to develop regulations for methane emissions from existing oil and gas wells; ICR coming in April

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The US EPA will begin developing regulations for methane emissions from existing oil and gas sources—e.g., oil and gas wells. The agency announced plans to cut methane emissions from new oil and gas wells last year. The US currently has a goal of cutting methane emissions from the oil and gas sector by 40 to 45% below 2012 levels by 2025. Emissions Natural Gas Oil Regulations

2016 174

Argonne analysis shows greenhouse gas emissions similar for shale, conventional oil

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Shale oil production generates greenhouse gas emissions at levels similar to conventional crude oil production, according to a pair of new studies released by the US Department of Energy’s Argonne National Laboratory. Eagle Ford and Bakken are the second and third largest oil-producing shale formation regions in the United States, during the last three years. These are shale formations with low permeability and must be hydraulically fractured to produce oil and gas.

2015 207

National Academies’ Gulf Research Program awards $10.8M to address systemic risk in offshore oil and gas operations

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million to six new projects to develop new technologies, processes, or procedures that could result in improved understanding and management of systemic risk in offshore oil and gas operations. The greatest risk in offshore oil and gas operations is the uncontrolled release of hydrocarbons and the threats such events pose to human health and safety, the environment, and infrastructure—as evidenced by the Deepwater Horizon disaster.

2017 150

ExxonMobil, Georgia Tech and Imperial College London publish joint research on potential breakthrough in membrane technology for oil refining

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Scientists from ExxonMobil, the Georgia Institute of Technology and Imperial College of London have published in the journal Science joint research on potential breakthroughs in a new membrane technology that could reduce emissions and energy intensity associated with refining crude oil.

2020 287

The $32-Trillion Push To Disrupt The Entire Oil Industry

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Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. International oil companies (IOCs) are likely to face a Black Swan scenario, which could end up being a boon for state-owned oil companies (NOCs). Lower oil supply will push up prices if demand continues to grow.

2019 202

Canada targets cutting GHGs 30% below 2005 levels by 2030; new regulations for oil and gas, power, petrochemicals

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Canada Environment Minister Leona Aglukkaq announced that Canada plans to reduce its greenhouse gas (GHG) emissions by 30% below 2005 levels by 2030. The new regulations include: Regulations aligned with recently proposed actions in the United States to reduce GHG methane from the oil-and-gas sector. Regulations for natural gas-fired electricity, which would build on Canada’s existing coal-fired electricity regulations.

2015 202

Eni report: global oil reserves and oil production up in 2018 due to US

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Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry. In 2018, global oil reserves rose slightly (+0.4%), mainly due to growth in the US. Market Background Oil

2019 162

Neos and Lockheed Martin to develop enhanced next-gen airborne gravity gradiometer to advance ability to find oil, gas & minerals

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will develop a new generation sensor to be used to find oil, gas and minerals beneath the earth’s surface from the air. Neos has exclusive use of the technology for applications related to oil, gas and mining and will use FTG Plus in its fleet—either Twin-Engined Basler BT-67s, single turbine engine Cessna C-208B Caravan aircraft or Reims-Cessna F406 twin turbine airplanes. Materials Natural Gas Oil Sensors

2016 183

DOE, DOI and EPA formally partner to coordinate and align research associated with developing US unconventional gas and oil

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The US Departments of Energy (DOE) and of the Interior (DOI), and the Environmental Protection Agency (EPA) announced a formal partnership to coordinate and align all research associated with development of the US’ unconventional natural gas and oil resources such as shale gas and oil. To form the partnership, the agencies will take the following steps: The agencies will create a steering committee to coordinate activities for unconventional oil and gas research.

2012 232

Opinion: China To Continue Expanding Its Influence In The Oil And Gas Sector

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Since 2009, China has been taking a much more active role in its pursuit of international oil contracts. In 2009, for the first time, Saudi Arabia exported more of its oil to China than it did to the U.S. China also made large investments in Saudi Arabia’s oil refining industry as well. But China’s oil investments didn’t stop there; they also pursued oil producing Canadian assets in 2011-12. The pipeline will transport crude oil from Russia to Daqing, China.

2015 195

U Calgary study finds oil shale most energy intensive upgraded fuel followed by in-situ-produced bitumen from oil sands

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A team at the University of Calgary (Canada) has compared the energy intensities and lifecycle GHG emissions of unconventional oils (oil sands and oil shale) alongside shale gas, coal, lignite, wood and conventional oil and gas. In a paper published in the ACS journal Environmental Science & Technology , they report that lignite is the most GHG intensive primary fuel followed by oil shale. By comparison, oil shale has NERs (or EROI) of 1.6−2.0

Huge Backlog Could Trigger New Wave Of Shale Oil

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The latest crash in oil prices once again raises this prospect. On the one hand, lower oil prices – despite the recent rebound, prices are still down sharply from a few months ago – can cause some E&Ps to want to hold off on drilling new wells. The lower oil price raises some questions about whether you go ahead with completing these wells,” Tom Petrie, head of oil and gas investment bank Petrie Partners, told S&P Global Platts. Market Background Oil

2019 205

BP to acquire unconventional US onshore assets from BHP for $10.5B; transforming US onshore oil & gas business

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BP has agreed to acquire a portfolio of world-class unconventional oil and gas assets from BHP. The acquisition will bring BP extensive oil and gas production and resources in the liquids-rich regions of the Permian and Eagle Ford basins in Texas and in the Haynesville gas basin in Texas and Louisiana. The assets have combined current production of 190,000 barrels of oil equivalent per day (boe/d), about 45% of which is liquid hydrocarbons, and 4.6

2018 150