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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. billion cash. The price represents a premium of.

Oil-Sands 325
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IHS CERA meta-analysis finds lifecycle GHG emissions for fuel produced solely from oil sands crude average 11% higher than from average crude refined in the US; high variability

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Average values for WTW GHG emissions for oil sands and other crudes, tight boundary. When the oil sands products refined in the United States are considered—a mixture of oil sands and lower-carbon blending components—the GHG emissions are, on average, 9% higher than the average crude processed in the US.

Oil-Sands 388
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USGS new estimates of global undiscovered, technically recoverable conventional oil and natural gas, excluding US

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USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources of the world. These new estimates are for conventional oil and gas resources only. Geological Survey (USGS) released today. The US imported approximately 11.4

Oil 218
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Annual global oil & gas capital expenditure to pass $1-trillion mark in 2012

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Increased activity in the Exploration and Production (E&P) sector will be the primary driver in pushing oil and gas capital expenditure (capex) to $1.039 trillion for 2012, according to the latest report by business intelligence firm GlobalData. billion, while the Middle East and Africa are forecast to spend $229.6

Oil 210
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ExxonMobil Outlook projects hybrids and advanced vehicles to account for nearly 50% of cars globally by 2040; fuel demand for for personal vehicles to peak and decline, while commercial transportation demand rises 70%

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Growth is led by developing regions such as China, India, Africa and other emerging economies. Globally, ExxonMobil expects to see growth in plug-in hybrids and electric vehicles, along with compressed natural gas (CNG) and liquefied petroleum gas (LPG) powered vehicles. L/100 km) by 2040. Transportation fuel demand.

Personal 408
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BP Egypt announces significant gas discovery in deepwater Nile Delta

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BP Egypt announced a “significant” gas discovery in the East Nile Delta. The wireline logs, fluid samples and pressure data confirmed the presence of gas and condensate in 38m (125 feet) net of Oligocene sands in Salamat. The deepwater exploration well, named Salamat, is the deepest well yet drilled in the Nile Delta.

Egypt 199
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Neste Jacobs and Global Oil Shale sign oil shale development and engineering strategic agreement

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GOS is exclusively focused on large-scale mining and processing of the world’s kerogen rich oil shale deposits to oil, with potential for add-on electricity production and associated minerals extraction. Lifecycle GHG for oil shale. Initial oil shale projects for the collaboration include GOS’ 2.18 Earlier post.).

Oil 218