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GE, Rosneft to pursue opportunities in Russia’s oil and gas industry, including Arctic offshore

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GE and OJSC Rosneft signed a memorandum of understanding (MOU) that lays the foundation for the two companies jointly to evaluate and develop commercial opportunities in oil and gas exploration and production in the Russian Federation. In addition, the Company participates in several exploration projects in Kazakhstan and Algeria.

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ADB approves $240M to help Kazakhstan modernize transport, improve connectivity

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million loan to help Kazakhstan modernize its transport system. Improved transport connectivity will help increase trade links between Kazakhstan and the markets in East Asia, the Caspian Sea region, and further to Europe. The Asian Development Bank (ADB) has approved a $240.3-million

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Eni reports first oil from giant Kashagan field in North Caspian Sea

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Eni announced that first oil from the giant Kashagan oil field has been produced. The oilfield is located in the North Caspian Sea, approximately 80 kilometers (50 miles) southeast of Atyrau, in Kazakhstan. Afterwards, the production will increase progressively up to 370,000 barrels of oil equivalent per day.

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IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil

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Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. Under the WEO 2011 central scenario, oil demand rises from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035, with all the net growth coming from the transport sector in emerging economies. Click to enlarge. billion in 2035.

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EIA ups total shale oil resource estimate by 13% to 419B barrels, shale gas by 4% to 7576 Tcf

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The US Energy Information Administration (EIA) continues to expand its assessment of technically recoverable shale oil and shale natural gas resources around the world. Each of the countries has an existing oil and natural gas industry with infrastructure connecting the basins to global markets. Bcf/d from 2005 to 2014.

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Oil Drum Licenses On-Board Hydrogen Generator for Baltic States

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University of Kent (UK) spin-off Oil Drum Ltd , has signed a licensing deal with UAB Hydro2 that will enable its on-board hydrogen generator technology to be manufactured, sold and installed in the Baltic States. Central to the technology is the efficient production of hydrogen from the small electrical source.

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Opinion: Oil Megaprojects Won’t Stay On The Shelf For Long

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One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oil prices, however, could kill off the megaproject.

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