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Record $86B in 2011 US oil and gas upstream deals, led by unconventional sector with $62B

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United States M&A activity for upstream oil and gas deals set records in 2011 for both deal values and deal counts, according to PLS, Inc., a provider of information, marketing and advisory services for the oil and gas industry. We expect continued strong activity in oil and liquids-rich resource plays in 2012.

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Shell sets world record for deepest subsea oil and gas well in Perdido Development: 9,627 feet in Gulf of Mexico

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Shell Oil Company is now producing oil from what it says is the world’s deepest subsea well at its Perdido Development. From Perdido, Shell accesses the Great White, Tobago, and Silvertip oil and gas fields through subsea wells directly below the facility and from wells up to seven miles away. Earlier post.)

Mexico 236
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BP Announces Giant Oil Discovery in the Deepwater Gulf of Mexico

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BP announced a giant oil discovery at its Tiber Prospect in the deepwater Gulf of Mexico (GOM). BP is currently appraising its deepwater GOM 2006 Kaskida discovery, also projected to contain more than 3 billion barrels in place. The well found oil in multiple Lower Tertiary reservoirs. BP advances in drilling depth and reach.

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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 Source: Maugeri 2012.

Oil 261
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Neste Oil awarded first RSPO-RED certificate for NExBTL renewable diesel production

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Neste Oil is the first company to be awarded an RSPO-RED Supply Chain certificate under the Roundtable on Sustainable Palm Oil’s (RSPO) new, more demanding certification system. The certificate covers the production of NExBTL renewable diesel at Neste Oil’s refineries in Porvoo, Rotterdam, and Singapore.

Oil 225
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NOAA study finds little evidence for large increases in total US methane emissions over the past decade

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A study by a team of researchers from the National Oceanic and Atmospheric Administration (NOAA) Earth System Research Laboratory has found that methane emissions from oil and natural gas production in the United States may not be rising as quickly as had been feared. 1 for 2006?2015,

Emissions 255
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IEA: Estonia is pioneering technologies for more efficient and cleaner use of oil shale

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An article in the latest issue of IEA Energy: The Journal of the International Energy Agency reports that Estonia, which has the most developed oil shale industry in the world, is collaborating in pursuing wider use of oil shale in a cleaner, more sustainable manner. Different that shale oil—i.e., million (US$12.8

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