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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. The price represents a premium of. billion cash.

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Average carbon intensity of oil sands production has dropped ~36% in last 40 years; still 12-24% higher than conventional oil CI

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The carbon intensity (CI) of Alberta oil sands production has significantly decreased over the last 40 years, according to a new study by a team from Stanford University published as an open access paper in the journal Environmental Research Letters. In situ production began in 1974, so no value is computable for 1970.

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U. Calgary analysis of energy balances and emissions of SAGD oil sands production finds need for improved processes; some operations not thermally efficient or net generators of energy

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Plot of cumulative steam-to-oil ratio (cSOR) vs. ratio of energy produced in form of chemical energy contained in bitumen if combusted to energy injected in form of steam (75% efficient steam generation). One of the key challenges in producing bitumen and heavy oil is their high, variable viscosity. From Gates and Larter (2013).

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Researchers propose framework for CCS infrastructure optimization to reduce GHG emissions from oil sands extraction and processing

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CCS infrastructure for six key CO 2 emission prices. The width of the pipeline network (green lines) is proportional to CO 2 flow; the largest CO 2 flow is approximately 36 MtCO 2 / yr for the $155/tCO 2 scenario (pipeline leaving the Athabasca oil sands area). Sources are red and sinks are blue. Costs are in $US 2011.

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Researchers Suggest That Although CCS and Other Technologies Could Reduce Oil Sands GHG Emissions to Near Zero, That Strategy May Not Make Sense

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Examples of emerging oil sands related technologies and trade-offs. The paper is an examination of how various choices about the scale of the life cycle analysis applied to oil sands (i.e., The source material is neither oil nor tar but bitumen, but is most generally described as an example of ultraheavy oil.”.

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WSU researcher creates cooking-oil based bio-asphalt

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Made from the residue left behind after production of gasoline, plastics, and other materials, asphalt still commands $700-800 per ton, or half the price of gasoline at $1,500 per ton, Wen estimates. With the waste cooking oil technology, we can reduce the cost of asphalt binder to under $200 per ton, making road building much cheaper.

Oil 255
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Stanford, UC Santa Cruz study explores ramifications of demand-driven peak to conventional oil

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In contrast to arguments that peak conventional oil production is imminent due to physical resource scarcity, a team from Stanford University and UC Santa Cruz has examined the alternative possibility of reduced oil use due to improved efficiency and oil substitution. 2010, to above 140 $/bbl in constant 2010 dollars).

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