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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

Oil 150
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EEA: small increase in EU’s total greenhouse gas emissions in 2017, with transport emissions up for the fourth consecutive year

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Total greenhouse gas emissions in the European Union (EU) increased by 0.7% According to the EEA’s Annual European Union greenhouse gas inventory 1990-2017 and inventory report 2019 , total greenhouse gas emissions (including international aviation) rose by 0.7% in 2017 compared with 2016. Source: EEA.

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Microwaved graphene nanoribbons can reinforce oil and gas wellbores

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Wellbores drilled to extract oil and gas can be significantly reinforced with a small amount of modified graphene nanoribbons added to a polymer and microwaved, according to Rice University researchers. megapascals, a 130% boost in this measurement of internal pressure, Shahsavari said. 6b01756.

Oil 150
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Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

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shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oil price forecasts by Wall Street’s major investment banks. In recent years, U.S. shale output.

Oil 150
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The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

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OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia’s Manifa problems grabbing the headlines. At the same time, Saudi Arabia’s export volumes have been hit by high local summer demand for crude oil and products. by Cyril Widdershoven for Oilprice.com.

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Global Carbon Budget 2022: Global fossil CO2 emissions expected to grow 1.0% in 2022

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Growth in oil use, particularly aviation, and coal use are behind most of the increase in 2022. —Glen Peters, a Research Director at the CICERO Center for International Climate Research. CO 2 emissions from natural gas use have grown a sustained 2.2% CO 2 emissions from oil use are expected to grow 2.2% [0.9%

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BASF and Gazprom agree on asset swap; BASF’s Wintershall expanding production of oil and gas, exiting gas trading and storage business

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Through the swap, BASF aims to further expand its production of oil and gas via its wholly owned subsidiary Wintershall —Germany’s largest internationally active crude oil and natural gas producer—and to exit the gas trading and storage business. billion barrel of oil equivalent.

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