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The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. When oilprices were high and production was relentlessly climbing, energy related junk bonds looked highly profitable. The situation will compound itself if oilprices stay low.
In the Douglas-Westwood Monday note , Andy Jenkins from the energy research group’s London office observes that the decline in oilprices may impact deepwater production and in particular a key future enabler: subsea processing (SSP). Cost reduction will be required for the further implementation of SSP solutions.
It may be difficult to look beyond the current pricingenvironment for oil, but the depletion of low-cost reserves and the increasing inability to find major new discoveries ensures a future of expensive oil. Total global investment in oil and gas exploration grew rapidly over the last 15 years.
In a newly released report, market analyst Visiongain has calculated the Arctic oil and gas exploration and production market to be worth $11.93 Although oil and gas have been produced in the Arctic region for years, many of the vast oil and gas fields that initiated interest in the Arctic are in decline.
Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by global business information provider IHS Markit. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.
The Middle East becomes the world’s second-largest gas consumer by 2020 and third-largest oil consumer by 2030, redefining its role in global energy markets. Globally, fossil fuels continue to meet a dominant share of global energy demand, with implications for the links between energy, the environment and climate change.
At the company’s Capital Markets Day 2017 in Johannesburg, South Africa, Sasol management said that the company will no longer pursue its proposed ) project in the US ( earlier post ) and furthermore will not invest in additional greenfields gas-to-liquids (GTL) projects.
The MTOMR is the last in a series of medium-term forecasts that the IEA devotes to each of the four main primary energy sources: oil, gas, coal and renewable energy. But it also highlights elevated supply and demand risks. —IEA Executive Director Maria van der Hoeven.
Given the unique and challenging Arctic environment and industry’s declining interest in the area, forgoing lease sales in the Arctic is the right path forward. Cook Inlet is a mature basin with a long history of oil and gas development in state waters, where existing infrastructure could support new activity.
—Jim Burkhard, vice president and head of oil markets, IHS Markit. IHS Markit expects oil demand in the second quarter of 2020 to be 22 MMb/d less than a year ago. Oil is produced in a wide variety of environments, which means there is no fixed equation and decision factors vary. There is no fixed equation.
the future of the economy and the environment. Cascadia believes that Congress will implement a policy in the coming year that focuses primarily on gas, nuclear and. Rising OilPrices Lead to Investments in Natural Gas. Oil markets are traditionally sensitive to a pick up in economic activity. extraction.
For example, at peak oilprice in 2008, Indonesia was spending 40% of its budget on transport fuel—more than health, education and infrastructure development combined. Earlier post.) ” Some of the main lessons drawn from the report include: Fossil-fuel subsidies absorb serious amounts of money.
The collapse of oilprices has ground shale drilling to a halt, but the one region where drilling is still active, and even increasing, is in West Texas. The rash of deals exemplify the latest trend as the oil markets slowly move towards balance and oilprices continue to languish below $50 per barrel.
The question today is just how much Argentina is willing to change and how this plays into a low oilpriceenvironment that is already negatively impacting investment elsewhere. This translates to an estimated 802 trillion cubic feet of technically recoverable shale gas and 27 billion barrels of oil.
The party is over for tight oil. Despite brash statements by US producers and misleading analysis by Raymond James, low oilprices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oilprices as the world production surplus continues. Party On, Dude!
The production costs for most chemicals via microbial fermentation are currently high compared to oil-derived products primarily because of operating costs associated with feedstock and feedstock processing. Acetogens are anaerobic bacteria, which cannot grow in oxygenated environments. In this study, researchers tested how C.
The transportation sector thus represents a significant fraction of total greenhouse gas (GHG) emissions both globally and in the US—light-duty vehicles (LDVs) are responsible for 17.5% Electrification will also reduce oil dependence, providing foreign policy benefits and the potential to reduce real oilprices and oilprice volatility.
“NEB and GNWT study finds 200 billion barrels of oil in the Sahtu,” gushed CBC News , referring to a region of the sprawling territory that cuts across three provinces and touches the Arctic Ocean. Knowledgeable oilmen like Hogg say that the Canol, while highly prospective, is a long-term game that will have to wait until oilprices rise.
As part of the report, which was requested by Senators Barbara Boxer (as Chair of the Senate Committee on Environment and Public Works) and Susan Collins, the GAO makes several recommendations to Congress and for executive (i.e. Department or Agency-level) action. non-ethanol biofuels. specifies this year. per year for conventional ethanol.
A new study by the French institute Enerdata, commissioned by the European Federation for Transport & Environment (T&E), suggests that the European CO 2 standards for new vehicles due to come into effect in 2012 will lead not only to a European savings on oil (mainly via lower oil import volumes) but also to slightly lower global oilprices.
Volatility hurts us too, for as we’ve learned the price of oil can rise sharply in a short period of time. This means our economic stability is at stake because of our reliance on oil. In fact, four of the last five recessions were started by an oilprice spike. [
Given the numerous barriers outlined.the committee judges that the consumption mandate for cellulosic biofuels is not likely to be met by 2022 without substantial improvement in technologies in the next few years and a stable economic and policy environment to encourage accelerated demonstration and deployment of cellulosic biofuels.
BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oilpriceenvironment. Today, the leaner $9-billion project, which also includes capacity for water injection, is projected to be profitable at or below current oilprices.
Kazakhstan, rich in natural resources such as oil, gas, and metal, has huge potential for economic development but infrastructure constraints result in significant travel time and cost, and hinder access to foreign markets.
That’s where government comes in.only the government can help influence [change] by having a price for carbon and technical incentives. ”. Mr. Immelt’s point is that the spike in oilprices to $147/barrel in 2008 is not enough on its own to get automakers to make electric vehicles. This could be another air mail idea.
Examples of emerging oil sands related technologies and trade-offs. Without strong climate policy, one might expect production of unconventional hydrocarbon fuels to increase dramatically in the coming decades as supplies of conventional oil become gradually tighter. Credit: ACS, Bergerson and Keith. Click to enlarge. Charpentier, A.
A new report from the Council on Foreign Relations (CFR)— The Canadian Oil Sands: Energy Security vs Climate Change — claims that prudent greenhouse gas regulations can limit emissions from Canadian oil sands while still enabling robust development of the energy resource. Source: Levi 2009. Click to enlarge. Levi, CFR’s David M.
In addition to high oilprices and the financial crisis, the increased use of new renewable energy sources, such as biofuels for road transport and wind energy for electricity generation, had a noticeable and mitigating impact on CO 2 emissions. Global CO 2 emissions from fuel use and cement production by region. Source: PBL.
Sustainable Development Technology Canada (SDTC) is awarding Nsolv $13 million in grant funding to commercialize its field-tested, proprietary warm solvent technology for in situ heavy oil extraction without the use of steam. Other extraction methods are not currently commercially viable at this scale. The technology.
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.
KPMG International is hosting the event, in cooperation with the UN Global Compact (UNGC), the World Business Council for Sustainable Development (WBCSD) and the United Nations Environment Programme (UNEP). But the future winners in the Automobile sector may well be those companies that are doing more than just adapting an existing model.
the steam required, represented by barrels of water, to produce one barrel of oil) from a peak of almost 8.5 for the first quarter of 2011, according to data from the California Department of Oil, Gas & Geothermal Resources (DOGGR). Using thermal recovery processes in heavy oil reservoirs depends largely on.
DNV and GL merged in September 2013 to form DNV GL—the world’s largest ship and offshore classification society, the leading technical advisor to the global oil and gas industry, and a leading expert for the energy value chain including renewables and energy efficiency. Ship electrification and renewables.
Russia’s exploration activities, which were hit not only by plummeting oilprices but also by a targeted sanctions regime, suffered a double blow during this period. In 2016, oil and gas companies in Russia discovered 40 prospective fields , however, the 3P reserves of the largest among them, Rosneft’s Nertsetinskoye, amounted to 17.4
A number of factors are pushing Saudi Arabia to raise its crude-oil production capacity, but the wide range of potential outcomes suggests that such an increase is a risky strategy for the kingdom and the global environment, according to a new article by an expert from Rice University’s Baker Institute for Public Policy.
Investing in alternative fuels is not only good for the environment, it’s a smart move for our company as biofuels have the potential to hedge against future oilprice volatility and carbon regulations. —United Executive Vice President and General Counsel Brett Hart.
What it means for the oil and gas industry. How much oil and gas companies can save with new desalination systems. Blue’ technologies have also until now not been ‘green’ enough to make sense for the environment. James Stafford: What about the oil and gas industry? How it’s already working-and where.
Furthermore, the Bio-BDO fermentation process operates near ambient pressure and temperature, thus providing a safer working environment. Genomatica expects Bio-BDO to be competitive at oilprices of $45 per barrel or at natural gasprices of $3.50 per million Btu.
Japan and Europe by 2010 , under a widespread "green" strategy outlined today.The ecological gas-electric vehicles, which can be recharged from a home electrical outlet , will target leasing customers, Toyota Motor Corp. more ) M eanwhile, in the United States, the political environment to support plug ins continues to grow.
The report finds that only in an environment with technological breakthroughs, high oilprices and a high implicit or actual carbon price would biofuels be cost competitive with petrol [.].
However, consumer demand for PEVs is quite uncertain and, barring another global spike in oilprices, may be limited to a minor percentage of new vehicle purchasers (e.g., Automakers could ramp up PEV production if consumer demand proves to be larger than expected. Early Adopters vs. Mainstream Car Buyers. Environmental Impacts.
. “While we saw drops in EV battery shipment in the first quarter caused by customers’ battery inventory adjustment, we expect to see improved market environment backed by launches of new EVs in North America,” SK On Chief Financial Officer Kim Kyunghoon said in a post-earnings conference call.
Commercial vehicle manufacturer Iveco is gearing-up production of its right-hand drive natural gas powered Daily following the success of a six month trial which saw the vehicle used for recycling and street cleansing operations on behalf of Camden Council. litres/100km.
Oilprices are probably already high enough to spark a rebound in shale production. Even when US oil production hit a peak at 9.7 By the third quarter, oilprices had climbed back to above $40 and traded at around $50 per barrel for some time, replenishing some lost revenue. by Nick Cunningham of Oilprice.com.
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