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Flows through the Strait in 2011 were roughly 35 percent of all seaborne traded oil, or almost 20 percent of oil traded worldwide. ”. Chokepoints are narrow channels along widely used global sea routes, some so narrow that restrictions are placed on the size of vessel that can navigate through them. million bbl/d was crude oil.
The US Energy Information Administration recently updated its brief on world oil transit chokepoints—one of which is Egypt’s Suez Canal. The EIA defines chokepoints as narrow channels along widely used global sea routes, some so narrow that vessel size is restricted. million bbl/d of crude oil in 2007 to 1.1
A new study from WCS (Wildlife Conservation Society) and WWF finds that nearly 20% of tropical Intact Forest Landscapes (IFLs) overlap with concessions for extractive industries such as mining, oil and gas. The total area of overlap is 376,449 square miles (975,000 square kilometers), about the size of Egypt. Grantham et al.
As the world population increases by the estimated 30% from 2010 to 2040, ExxonMobil sees global GDP rising by about 140%, but energy demand by only about 35% due to greater efficiency. The Outlook for Energy provides ExxonMobil’s long-term view of global energy demand and supply. Click to enlarge. Outlook for Energy.
Additional payments of up to $550 million could be payable by Total in case of an improvement in the oil markets in the coming years. Overall, combining its interests in liquefaction plants and its portfolio of third party supply contracts, the Group will manage a global volume of nearly 40 MTPA.
BP and Maersk Drilling will collaborate to develop conceptual engineering designs for a new breed of advanced technology offshore drilling rigs that will unlock the next frontier of deepwater oil and gas resources. BP also sees potential applications for the technology in Egypt, Azerbaijan and other deepwater basins around the world.
Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. According to Sentyurin, around 80% of the natural gas production by mid-century will stem from new projects, highlighting the importance of continued investment in upstream. —Secretary General Sentyurin.
CCC is a globally diversified company specializing in Engineering and Construction. Commenting on the news, Richard Thompson, Editorial Director at MEED, part of GlobalData, said: For nearly a century, the Gulf’s abundant supplies of accessible hydrocarbons has put it at the center of a gas-guzzling global economy.
The study is a part of of a larger report that will further take into account the changing dynamics of the regional and global gas markets, giving a comprehensive view of the implications for the long-term development of natural gas in Cyprus and other like nations. Global gas use in 2012 was 117 Tcf.). —Sergey Paltsev.
Processes such as oil extraction from sources such as tar sands and deep-water offshore oil wells, as well as the expansion of first-generation biofuels such as corn-based ethanol are setting the stage for a “ water/energy collision ” of resource management policies. Climate change.
They predict a significant shift in the powertrain mix over the next three to four years, with CNG emerging as the clear number two behind crude oil-based fuels in the transportation sector. “A few stand out: Egypt, Tanzania, Peru, Bangladesh, and Indonesia. Industry analysts are effusive about the sector.
A new analysis by European environmental NGO Transport & Environment finds that Europe burns more than 17,000 tonnes of rapeseed and sunflower oil every day—the equivalent of 19 million 1-liter bottles. Supermarkets have had to ration vegetable oils and prices are soaring. In a time of scarcity we must prioritize food over fuel.
New energy research from business information provider IHS Markit has identified more than five billion barrels of oil equivalent (BOE) in numerous smaller, previously bypassed, or underperforming reservoirs outside North America that offer oil and gas operators a shorter-cycle path to production than new, frontier projects in undeveloped areas.
As it announced during its investor conference earlier this week, Celanese Corporation, a global technology and specialty materials company, has increased its 2013 earnings growth objectives to adjusted earnings per share of at least $6.00, or operating EBITDA of at least $1.7 Source: Celanese. Click to enlarge. million tons.
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