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. Market Background Oil Ports and Marine

Oil 150

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.

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US EIA: US crude oil production fell by 8% in 2020, the largest annual decrease on record

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US crude oil production averaged 11.3 The production decline resulted from reduced drilling activity related to low oil prices in 2020. In January 2020, US crude oil production reached a peak of 12.8 Crude oil production in Texas averaged 4.87

Oil 244

Novvi LLC begins production of 100% renewable base oils & process oils

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Novvi LLC announced the successful start-up of its Deer Park, TX plant, where it is manufacturing and marketing 100% renewable base oils ( NovaSpec Base Oils ) for the lubricants industry, and 100% renewable process oils for polymer, adhesives, and personal care industries. Cosan, American Refining Group, Chevron, and H&R created to develop, produce, market, and distribute high-performance oils and lubricants from renewable sources.

2020 215

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 244

TUAT team develops more efficient method to recover heavy oil using novel chemical flooding

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By making use of a previously undesired side effect in oil recovery, researchers at Tokyo University of Agriculture and Technology (TUAT) have developed a method that yields up to 20% more heavy oil than traditional methods. Market Background Oil

2020 227

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 197

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.

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 265

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 290

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 244

Oleophobic hydrophobic magnetic sponge selectively soaks up oil, sparing water and wildlife

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A Northwestern Engineering-led team has developed a highly porous smart sponge that selectively soaks up oil in water. With an ability to absorb more than 30 times its weight in oil, the sponge could be used to clean up oil spills inexpensively and efficiently without harming marine life.

2020 227

How crude-oil prices influence gasoline prices

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Gasoline is one of the products refined from crude oil. Thus, the price of crude oil should have a strong influence on the price of gasoline. The Energy Information Administration (EIA) estimates that in the United States from 2008 to 2017, crude oil represented only 61% of the retail price of gasoline. So how strong, indeed, is the relationship in the United States between crude-oil and gasoline prices? Fuels Market Background Oilby Michael Sivak.

IHS Markit: 10 MMb/d of oil production cuts coming

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IHS Markit Crude Oil Markets service expects up to 10 MMb/d of world oil production will be cut or shut-in from April to June 2020 as oil storage fills up and output from financially strapped companies begins to fall. If oil cannot be sold or stored, it cannot be produced. If there is no international agreement to curtail oil production then brutal unadulterated market forces will bring the oil market into balance. Market Background Oil

2020 174

IHS Markit: small long-term change for Canadian oil sands despite COVID-19 Shock & largest annual production decline in 2020

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Canadian oil sands production is expected to decline by nearly 175,000 barrels per day (b/d) in 2020 as a result of COVID-19—the largest annual decline on record. Forecasts Market Background Oil sands

2020 212

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. Source: Eni World Oil Review 2019.

2019 163

Shell producing base oil from natural gas for motor oils

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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. Shell PurePlus Technology base oil is manufactured at the Pearl GTL facility in Ras Laffan in Qatar, a partnership between Qatar Petroleum and Shell. Richard Dixon, Shell North America Motor Oil Technology Manager.

2014 246

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. Equinor will develop business opportunities to de-carbonize existing value chains related to the oil and gas business, such as CCUS and hydrogen, and create synergies between renewable and oil & gas value chains. Carbon Capture and Storage (CCS) Emissions Hydrogen Market Background Natural Gas Oil

2020 177

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 204

Refineries in the Americas produce a greater share of gasoline per barrel of crude oil than refineries in other world regions

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The International Energy Agency’s Monthly Oil Statistics shows that there are differences in refinery output throughout the world. Source: International Energy Agency, Monthly Oil Statistics, February 2020, Paris, France., Fuels Market Background Oil

2020 244

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). Microscopy shows that Methanoliparia cells attach to oil droplets.

2019 237

Upcycling polyethylene plastic waste into lubricant oils

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Researchers in the US have developed a catalytic upcycling process using platinum nanoparticles supported on perovskites to convert single-use polyethylene (PE) (such as grocery bags) into value-added high-quality liquid products (such as motor oils and waxes). These liquids could be used as motor oil, lubricants or waxes, or further processed to make ingredients for detergents and cosmetics. Catalysts Lubricating Oils Plastics Recycling

2019 150

BNL team uses nc-AFM to find sulfur and nitrogen atoms in crude oil molecules

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Researchers from the Center for Functional Nanomaterials at Brookhaven National Laboratory and users from ExxonMobil have developed a new approach to identifying atoms that are neither carbon nor hydrogen within a specific type of molecule in crude oil. Emissions Fuels Oil

2019 238

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. The impact of low oil prices could result in a drop of 8-10 billion cubic feet per day (Bcf/d) in associated gas volumes by the end of 2021. Associated gas is regular natural gas that is produced together with oil out of the same well.

2020 190

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 of total US oil production (7.9

2019 254

IHS Markit says outlook for crude oil prices strengthens through 2021

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Oil markets have returned to relatively stable ground with Brent prices within a narrow $40-$45 per barrel range and could conclusively pass the $50 per barrel mark in the second half of 2021, according to Roger Diwan and the IHS Markit Energy Advisory Service. Emerging from the worst of the COVID-19 outbreak, oil markets are now at a delicate pivot point as they transition to phase II of the IHS Markit Three Phases of Oil Markets Recovery.

2020 174

ExxonMobil discovers more oil offshore Guyana at Mako-1 well on the Stabroek Block

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ExxonMobil announced an oil discovery offshore Guyana at the Mako-1 well southeast of the Liza field, marking the 15 th discovery on the Stabroek Block. Mako-1 encountered approximately 164 feet (50 meters) of a high-quality oil bearing sandstone reservoir.

Guyana 212

Oil Prices Ravaged By Financial Turmoil

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Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market. A rebound for the greenback led to a steep decline in oil prices on Friday. At the same time, sudden turmoil in the broader financial system also bled over into the oil market. The stock market and interest rates can really affect oil a lot,” Mark Waggoner, president of Excel Futures, told The Wall Street Journal. “It’s Market Background Oil

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 207

Production of crude oil as a percentage of proved reserves: Recent worldwide and U.S. trends

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In this analysis, I examined the relation between crude-oil production and crude-oil reserves in the world and in the United States. The variable of interest was the amount of crude oil produced as a percentage of proved reserves of crude oil. The raw data for this study were proved reserves of crude oil (obtained from Oak Ridge National Laboratory ), and annual crude-oil production (calculated from the information in the same source). by Michael Sivak.

2019 209

Bank of America: Oil Demand Growth to Hit Zero Within a Decade, EVs the Culprit

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By 2030, oil demand could hit a peak and then enter decline, according to a new report. For the next decade or so, oil demand should continue to grow, although at a slower and slower rate. According to Bank of America Merrill Lynch, the annual increase in global oil consumption slows dramatically in the years ahead. That would alter oil demand forecasts, but in complicated ways. All of that implies a peak in oil demand by 2030, a little over a decade from now.

2019 254

Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. In October, Saudi sources first prepared the market with statements that the country would be comfortable with oil prices as low as $80 per barrel for “a year or two.” Plunging oil prices have substantially reduced Saudi revenues.

2015 250

U Delaware team synthesizes base oils at high yields from biomass

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Lubricants—a more than $146-billion market serving numerous applications, automotive among them—are produced from base oils derived from petroleum mineral oils (mineral base oil) or synthetic oils such as poly-?-olefins olefins (PAOs) (synthetic base oil). There is increasing need for development of improved energy-efficiency, high performance, durable, and environmentally-acceptable base oils that operate under extreme environmental conditions.

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

Oil Well Strippers Suffering From Low Oil Prices

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With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. A stripper is a small operator of very old oil wells that frequently produce less than five barrels per day of oil. billion barrels of oil and 18.8 percent of the US oil output, so they are a non-trivial source of US production. Market Background Oil Opinion

2015 183

The New Oil Cartel Threatening OPEC

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When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. oil and gas production gives us greater leverage against OPEC,” the Times of India quoted an Indian official as saying last month after the formal start of said talks. What’s more, they might not be alone in this attempt to curb OPEC’s clout on the global oil market.

2018 163

Volkswagen fueling car carriers with fuel derived from used cooking oil; GoodFuels BFO

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The fuel is produced from materials such as used oil from restaurants and the food industry. The first car freighter was refueled for the first time with this oil in mid-November 2020 and a second ship is due to follow at the beginning of 2021.

2020 301

BASF develops engineering plastic with optimized sliding friction properties; for automotive parts in contact with hot oil

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BASF is launching an engineering plastic that is particularly suited for automotive parts that come into contact with hot oil. The new polyethersulfone (PESU) Ultrason E0510 C2TR shows very good tribological properties, high oil resistance and excellent dimensional stability also with broad ranges of temperature fluctuations. The new polyethersulfone (PESU) Ultrason E0510 C2TR is particularly suited for automotive parts that come into contact with hot oil.

2020 174

Wonderful Oil Waste Water Makes Tangerines Not So Cute, But Makes Toxic Resnicks Filthy Rich #JoeTakesOnTheNews

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climate change environment environmental justice, environmental racism fossil fuels greenwashing News News Media toxic chemicals Truth & Reality water conservation oil waste water Resnick Wonderful Co

2018 190

Big Oil Betting On Electric Vehicles

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Oil demand for transportation fuel see its “ demand will flatten out ,” after 2030, Couse said. Colin McKerracher, head of advanced transport analysis at Bloomberg New Energy Finance, sees Couse’s forecast as the highest EV sales margin yet to be forecasted by a major company in the oil sector. Royal Dutch Shell Plc sees a similar trend with oil demand in transportation flattening out in the near future. Electric (Battery) Forecasts Oilby Jon LeSage for Oilprice.com.

2017 195

The New Oil Cartel Threatening OPEC

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When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. oil and gas production gives us greater leverage against OPEC,” the Times of India quoted an Indian official as saying last month after the formal start of said talks. What’s more, they might not be alone in this attempt to curb OPEC’s clout on the global oil market.

2018 150

Arctic oil on life support

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Oil companies have eyed the Arctic for years. With an estimated 90 billion barrels of oil lying north of the Arctic Circle, the circumpolar north is arguably the last corner of the globe that is still almost entirely unexplored. As drilling technology advances, conventional oil reserves become harder to find, and climate change contributes to melting sea ice, the Arctic has moved up on the list of priorities in oil company board rooms. Arctic Oil

2015 195

Number of US crude oil refineries has declined but total distillation capacity has risen from 1982 to 2019

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In 1982 there were over 250 operating crude oil refineries in the United States; that number declined to 132 by 2019, according to data from the US Department of Energy (DOE). Fuels Market Background Oil

2020 195