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. Hydrogen Hydrogen Production Oil Oil sands

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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Canadian oil sands production is set to enter a period of slower annual production growth compared to previous years. Transportation constraints such as a lack of adequate pipeline capacity and the resulting sense of price insecurity in western Canada have weighed on new large scale incremental investments in the oil sands, said Kevin Birn, vice president, IHS Markit. Canada Forecasts Oil sands

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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

IHS CERA meta-analysis finds lifecycle GHG emissions for fuel produced solely from oil sands crude average 11% higher than from average crude refined in the US; high variability

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Average values for WTW GHG emissions for oil sands and other crudes, tight boundary. When the boundary for measuring GHG emissions is placed around crude production and processing facilities, for fuels produced solely from Canadian oil sands the average well-to-wheels (WTW) life-cycle GHG emissions are 11% higher than for the average crude refined in the United States (results range from 4% to 18% higher), according to a new meta-analysis by energy market consultancy IHS CERA.

IHS-CERA concludes “no material impact” on US GHG from Keystone XL; heavy crude from Venezuela most likely replacement

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The study also found that any absence of oil sands on the US Gulf Coast would most likely be replaced by imports of heavy crude oil from Venezuela, which has the same carbon footprint as oilsands crude. The IHS CERA report notes that pipeline opponents argue that by opening up additional US markets for Canadian oil sands, the Keystone XL project would lead to significant incremental US GHG emissions. Venezuela.

Russia’s Rosneft to invest $16B to develop Carabobo 2 extra-heavy crude in Venezuela; first oil from Junin

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Russian oil and gas major Rosneft, 75% owned by the government, will invest $16 billion in a planned joint venture project with Venezuela’s state oil and gas company PDVSA to develop the Carabobo 2 block in the southern Orinoco extra-heavy crude belt in Venezuela, according to Rosneft CEO Igor Sechin. Daily crude oil production is expected to be approximately 450,000 barrels per day, according to Rosneft. Oil-in-place at the blocks is approximately 6.5

Argentina and Venezuela to cooperate in $2.2B 100,000 bpd extra-heavy oil joint venture in Orinoco Belt

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Argentina and Venezuela will form a joint venture targeting production of 100,000 barrels of extra-heavy oil per day in the Junin field area of the Orinoco Oil Belt. The Orinoco Belt contains heavy and extra-heavy oil with a range of gravities from 4 to 16 degrees API (a measure of density); some Junin projects have oil ranging from 7-8 degrees API. The US Geological Survey (USGS) characterizes extra-heavy oil as having an API gravity of less than 10°.

Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Such an increase in capacity could prompt a plunge or even a collapse in oil prices, he suggests. shale oil production. Oil: The Next Revolution."

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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. To be sited at Jie Yang City, Guangdong Province, the Nanhai refinery will be operational in early 2015, with a capacity to process 400,000 barrels of heavy and extra heavy crude oil per day (400 kbd) from the Orinoco Oil Belt. billion barrels) with this inclusion of the extra heavy oil.

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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US imports of Canadian crude oil rose to record levels during the first eight months of 2012, with Canada accounting for a growing share of total gross US imports, according to the US Energy Information Administration (EIA). The United States is importing more crude oil from Canada, even though the total amount of crude oil America buys from foreign suppliers is falling. Almost 99% of Canadian oil exports are sent to the US market.

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Canada Launches Heavy Oil Working Group to Promote Cleaner Fossil Fuels

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The Government of Canada has established a Heavy Oil Working Group. The Honorable Christian Paradis, Minister of Natural Resources, initiated the working group with leaders from countries with heavy oil potential in the Americas during the Ministerial meeting of the Energy and Climate Partnership of the Americas (ECPA) in Washington, DC on 16 April. The group will facilitate the exchange of information and the sharing of expertise in the area of heavy oil extraction and development.

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

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Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. Oil discoveries declined to 2.4 This sharp slowdown in activity in the conventional oil sector was the result of reduced investment spending driven by low oil prices.

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Rosneft and PDVSA sign joint venture agreement for Orinoco heavy-oil Carabobo-2 project

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Russian oil and gas major Rosneft, 75% owned by the government, and the Venezuelan Corporacion Venezolana del Petroleo (CVP), a subsidiary of PDVSA, signed an agreement to create a joint venture to develop heavy oil reserves in Venezuela in the framework of the Carabobo-2 project. Commercial oil production is expected to peak at more than 400 thousand barrels per day (about 25 million tonnes per year). oil sands).

2013 69

Increase in US rig count will not cap oil prices

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The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. Those who study crude prices have correctly observed it was the 4 million barrels per day (b/d) increase in US LTO production that contributed greatly to the 2014 oil price collapse. Oil Opinion

2016 60

Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Chevron, already the largest thermal heavy oil producer, is optimizing thermal production in heavy oil fields by leveraging information technology to improve the percentage recovery as well as the economics.

2011 85