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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. by Alex Kimani for Oilprice.com. 2 Total SA.
bp has agreed to sell its 50% interest in the Sunrise oil sands project in Alberta, Canada, to Calgary-based Cenovus Energy, the other owner of the Sunrise project. In Canada, bp will no longer have interests in oil sands production and will shift its focus to future potential offshore growth. 650 water depth.
In this analysis, I examined the relation between crude-oil production and crude-oil reserves in the world overall and in the United States alone. The variable of interest was the amount of crude oil produced as a percentage of proved reserves of crude oil. For the world, production of crude oil in 1980 represented 3.4%
India’s state-run Oil and Natural Gas Corp (ONGC) said that oil output from the Sakhalin-1 project in Russia has returned to a plateau level of 190,000 - 200,000 barrels per day (bpd) from zero. In April 2023, Russia’s Rosneft offered dividend payments to OVL against its 20% stake, rather than equity oil.
The City of Indianapolis will upgrade 425 non-police-pursuit sedans in its muncipal fleet to plug-in hybrid and battery electric vehicles by early 2016, cut the size of the fleet by 100 vehicles, and save $8.7 The City will replace 100 vehicles by the end of this year and 425 vehicles by the beginning of 2016. million over ten years.
Exxon Mobil Corporation is commencing development of the ultra-deepwater Julia oil field in the Gulf of Mexico. Capital cost for the project, which is expected to begin oil production in 2016, is estimated to be more than $4 billion. Malo production facility operated by Chevron USA Inc.
billion program of pipeline expansions to carry an additional 400,000 barrels per day (bpd) of light oil from North Dakota and western Canada to refinery markets in Ontario, Quebec and the US Midwest. billion investment rounds out our suite of major crude oil new market access initiatives for North American markets. Enbridge Inc.
John Hofmeister, former President of Shell Oil Company and founder and CEO of Citizens for Affordable Energy (CFAE), is joining the Fuel Freedom Foundation (FFF) Advisory Board. There will not be enough oil to stay on the path we’re on globally over the short- and medium-, let alone the long-term. We need a competitor for oil.
Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “ million of them—roughly 30% more units than conventional electric vehicle makers did.
The Argonne National Laboratory’s Systems Assessment Group announced 2016 release of the suite of GREET (Greenhouse gases, Regulated Emissions, and Energy use in Transportation Model) models and associated documentation. Updated vented, fugitive, and flaring greenhouse gas emissions from crude oil production. Updated U.S. Updated U.S.
Caelus Energy Alaska, LLC, a privately held independent exploration and production company, announced that its subsidiary, Caelus Energy Alaska Smith Bay LLC, has made a significant light oil discovery on its Smith Bay state leases on the North Slope of Alaska. This discovery could be really exciting for the State of Alaska.
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. for a 10-day lag.
Eni and RenOils, the Italian national vegetable and animal oils and fats Consortium established in 2016 to ensure the correct management of the collection, transport, storage, processing and reuse of vegetable oils and animal fats, are promoting the recovery of used cooking oils (UCO) for biofuel production.
Domestic crude oil production increases sharply in the AEO2014 Reference case, with annual growth averaging 0.8 million barrels per day (MMbbl/d) through 2016, when domestic production comes close to the historical high of 9.6 With domestic crude oil production rising to 9.5 MMbbl/d achieved in 1970. trillion cubic feet (Tcf).
BASF will uptake most of the pyrolysis oil and process it into new chemical products by using a mass balance approach as part of its ChemCycling project. Future investors in the technology can have the certainty that the pyrolysis oil produced will be taken up by BASF to produce high-performance chemical products.
One will be a PHEV version of the new Chrysler Town & Country minivan to be introduced in 2016; the second will be a PHEV version of a new full-size crossover vehicle to be introduced in 2017. FCA will launch a PHEV minivan in 2016 to comply with ZEV requirements. Variable displacement oil pump. —Bob Lee. Aluminum block.
That figure is also up sharply from the 5,271 from the same month in 2016, a 60 percent increase. The latest crash in oil prices once again raises this prospect. oil production aloft at a time when low prices are starting to curtail drilling activity. The calculus on completing wells can cut two ways. production levels.
Secretary of the Interior Sally Jewell announced that the latest oil and gas lease sales for federal waters in the Gulf of Mexico garnered $872,143,771 million in high bids on 329 tracts covering 1,707,358 acres. The area will be offered to industry again in 2016 under the current Five Year Offshore Oil and Gas Leasing Program.
Like many industries today, the oil industry is trying to sell its many job opportunities to the fastest growing portion of the global workforce: Millennials. But unlike any other industry, oil and gas is facing more challenges in persuading the environmentally-conscious Millennials that oil is “cool”. labor force. labor force.
ConocoPhillips estimates that the Willow Project will produce 180,000 barrels of oil per day at its peak and deliver $8 billion to $17 billion in new revenue for the federal government, the state of Alaska and North Slope Borough communities. The BLM has identified a preferred alternative in the final SEIS.
Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency’s latest annual report on oil markets. mb/d in 2017.
The new 2016 Ford Explorer SUV is making its global debut today at Los Angeles Auto Show with a new available 2.3-liter liter EcoBoost employs an active oil control system to optimize pressure when less fluid is needed. liter EcoBoost four-cylinder engine that delivers more horsepower and torque than the 2.0L
Crude oil production in the US Permian Basin is expected to increase to an estimated 2.4 Between January 2016 and March 2017, oil production in the Permian Basin increased in all but three months, even as domestic crude oil prices fell. million b/d) in that month. million b/d) in that month.
billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. billion oil-equivalent barrels at year-end 2017. Liquids represented 57% of the reserves, up from 53% in 2016. During 2017, proved additions at Upper Zakum in Abu Dhabi totaled more than 800 million barrels of crude oil.
A new study by the International Council on Clean Transportation (ICCT) estimates heavy fuel oil (HFO) use, HFO carriage, the use and carriage of other fuels, black carbon (BC) emissions, and emissions of other air and climate pollutants for the year 2015, with projections to 2020 and 2025. Click to enlarge.
turbodiesel engine coming in the 2016 model year. incorporates a two-stage variable-displacement oil pump, for greater efficiency, as well as a balance shaft located in the oil pan, for greater refinement. GMC revealed the new 2015 Canyon midsize pickup on the eve of the North American International Auto Show in Detroit.
shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S. oil production,” the consultancy noted.
The new engine will also be featured on the MY 2016 F-650 and F-750 medium-duty trucks, available in spring 2015. MY 2016 F-650/F-750. Intelligent Oil Change Monitoring is standard so oil changes are based on driving patterns and load demands instead of fixed distance intervals. Ford’s second-generation 6.7-liter
In its latest edition of the Short-Term Energy Outlook , the US Energy Information Administration (EIA) forecasts that US crude oil production will average 10.3 EIA also forecasts that 2019 crude oil production will rise further to an average of 10.8 US crude oil production averaged an estimated 9.3 million b/d set in 1970.
In 2017, emissions from GHG emitting activities statewide were 424 million metric tons of CO 2 equivalent (MMTCO 2 e), 5 MMTCO 2 e lower than 2016 levels and 7 MMTCO 2 e below the 2020 GHG Limit of 431 MMTCO 2 e. Compared to 2016, California’s GDP grew 3.6% It does not include emissions from petroleum refineries and oil production.
President Obama has directed the Environmental Protection Agency (EPA) and the Department of Transportation (DOT) to develop and to issue the next phase of medium- and heavy-duty vehicle fuel efficiency and greenhouse gas standards by March 2016. Earlier post.) Earlier post.) Earlier post.)
In the CHJ process (also called hydrothermal liquefaction), clean free fatty acid (FFA) oil from the processing of waste oils or energy oils is combined with preheated feed water and then passed to the CH reactor. Evaluation of ARA Catalytic Hydrothermolysis (CH) Fuel.
AB 1328 gives California water agencies access to information on potentially hazardous chemicals used in oil and gas operations. AB 1197 will ensure their spill management teams are adequately trained and prepared in the event of an oil spill. These other operations account for the majority of all oil and gas production in California.
The California Air Resources Board (CARB) announced that greenhouse gas emissions in California in 2016 fell below 1990 levels for the first time since emissions peaked in 2004—a reduction roughly equivalent to taking 12 million cars off the road or saving 6 billion gallons of gasoline a year.
Two diametrically opposed views dominate the current debate about where the oil price is heading. On the other hand, however, there is the view that the price of oil is set to explode, primarily due to underinvestment in the upkeep of brownfields , development of greenfields , and exploration for new resources. We will explain.
Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. Geopolitical tension has been largely irrelevant since the collapse of oil prices in 2014, but it’s making a return now that cracks have emerged in some key oil-producing nations. bank Citi said.
The point is, with volumes languishing (and probably poised to decline) tied to a flat oil futures price curve and with economics marginal at $60 per barrel, many E&P operators find themselves running through hedges in 2015 and still in need to finance their already reduced capital spending.
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.
The Wolfcamp shale in the Midland Basin portion of Texas’ Permian Basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 This estimate is for continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources.
JGC Holdings Corporation and Cosmo Oil Company will use Honeywell Ecofining technology ( earlier post ) for the first commercial-scale sustainable aviation fuel project in Japan. The project will convert used cooking oil locally collected in Japan into renewable jet fuel meeting ASTM D7566 standards with start-up scheduled in 2025.
The Hertz Corporation, which includes the Hertz, Dollar and Thrifty brands, has expanded of its Green Traveler Collection car rental fleet to include the 2016 Hyundai Sonata Hybrid ( earlier post ) in select cities across the US. Additionally, the company currently has 15 solar locations, with projected growth to 20 by 2016.
The party is over for tight oil. Despite brash statements by US producers and misleading analysis by Raymond James, low oil prices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oil prices as the world production surplus continues. OPEC and US crude oil production.
will develop a new generation sensor to be used to find oil, gas and minerals beneath the earth’s surface from the air. Neos acquired the FTG Plus program as part of its acquisition of assets from CGG SA announced in April 2016. In partnership with Lockheed Martin, Neos Inc. —Gregory Paleolog, FTG Plus program lead for Neos.
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