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GECF: more than a quarter of 2050 natural gas supply untapped

Green Car Congress

Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF). Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. —Secretary General Sentyurin.

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U.S. Drivers: Shut Up, Stop Whining, You Don't Pay $8/Gallon

Green Car Reports

Turmoil in Libya is making global oil markets nervous. So gas is over $3 a gallon, maybe even edging close to $4. That means higher gasoline prices. Cue the creeping unease and outright fear that Our American Way Of Life May Be In Peril. Well, it's Monday morning, and we have a brisk message for our U.S.

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

Green Car Congress

The skepticism shown by a majority of financial analysts and oil commentators about the real threat to global oil (and gas) production volumes was countered by the news that the production at Saudi Aramco’s main offshore oil field, Manifa, has been hit by technical problems. Amin Nasser’s aim is to go beyond global oil markets.

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Opinion: How Much Longer Can OPEC Hold Out?

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With the huge reduction in its revenues and growing discomfort among its members such as Venezuela, Libya and Nigeria over its current production levels, is OPEC really getting weaker? Containing some of the largest proven oil and gas reserves in the world, Venezuela is one of the founding members of OPEC. Venezuela’s Woes.

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Increase in US rig count will not cap oil prices

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The argument emerged that having contributed to the collapse of world oil prices, US LTO was the new global swing producer, replacing OPEC leader Saudi Arabia in that role. He was also optimistic WTI could exit 2016 at $70 because of the rapid rebalancing of global crude supply and demand. Every forecast must carry these caveats.

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Study reports non-US global shale gas recoverable resources of 5,760 Tcf; global shale gas boosts total recoverable natural gas resources by 40%

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Map of 48 major shale gas basins in 32 countries. Initial assessments of 48 shale gas basins containing almost 70 shale gas formations in 32 countries suggest that shale gas resources, which have recently provided a major boost to US natural gas production, are also available in other world regions. Source: EIA.

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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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Global energy consumption grew by 2.5% Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% globally, and 8.4% of global energy use, losing share for 12 consecutive years. Source: BP.

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