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The President nationalized Mexico’s lithium deposits last April, and created LitioMX (Litio Para Mexico) to mine lithium ( earlier post ). Sonora hosts virtually all Mexico’s lithium resources—8.82Mt lithium carbonate equivalent (LCE) or 1.66Mt lithium metal. What we are doing now.
US crude oil production averaged 11.3 The production decline resulted from reduced drilling activity related to low oil prices in 2020. The production decline resulted from reduced drilling activity related to low oil prices in 2020. In January 2020, US crude oil production reached a peak of 12.8 million b/d. million b/d.
Despite volatility in globaloil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51
bp has successfully started oil production at its Argos offshore platform, strengthening bp’s position as a leading producer in the deepwater US Gulf of Mexico. bp now operates five production platforms in the deepwater Gulf of Mexico: Argos, Atlantis, Mad Dog, Na Kika and Thunder Horse. Earlier post.) working interest.
In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. President George W.
The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6
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. It is the second-largest oil producer in the UK North Sea.
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. North America is expected to witness the highest capex globally, with $254.3
Australia-based Woodside Energy has made a final investment decision to develop the large, high-quality Trion resource in the deepwater Gulf of Mexico. First oil is targeted for 2028. Trion is located in a water depth of 2,500 meters, approximately 180 km off the Mexican coastline and 30 km south of the Mexico/US maritime border.
The New Mexico Environmental Improvement Board (EIB) adopted by a vote of four to three greenhouse gas reduction regulations—called the most stringent in the US—that will reduce global warming pollutants through a regional cap on greenhouse gas emissions. New Mexico Greenhouse Gas Cap-and-Trade Regulation.
Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry.
France-based Technip is acquiring US-based Global Industries for $1.073 billion. Global Industries is a provider of subsea construction and pipelay, engineering, project management and support services. Technip says that the acquisition of Global Industries reinforces its position leadership in the fast-growing subsea market.
More than three-fourths of all oil and gas production in the US Gulf of Mexico has a lower greenhouse gas (GHG) intensity than the basin-wide average, according to a new S&P Global Commodity Insights analysis. However, about 78% of the total production was found to be beneath that average. 900 kgCO 2 e/boe. 70 kgCO 2 e/boe.)
A research team led by The University of Texas at Austin has been awarded approximately $58 million to analyze methane hydrate deposits under the Gulf of Mexico. In the Gulf of Mexico, where the team will be sampling, there is estimated to be about 7,000 trillion cubic feet (TCF) of methane in sand-dominated reservoirs near the seafloor.
Shell has begun production from the Stones development in the Gulf of Mexico. Stones is expected to produce around 50,000 barrels of oil equivalent per day (boe/d) when fully ramped up at the end of 2017. Shell’s global deep water business is a growth priority for the company and currently produces 600,000 boe/d.
In mid-December 2013, BP announced its discovery in the Gila prospect, its latest in the Paleogene in the deepwater US Gulf of Mexico. BP also confirmed the recently-announced Pitu oil discovery in the frontier deepwater of the Potiguar basin off Brazil’s equatorial margin, announced by Petrobras. Click to enlarge. Click to enlarge.
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.
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.
Energy executives expect continued volatility in the price-per-barrel of oil for the remainder of the year, with 64% predicting crude prices to exceed $121 per barrel. Only 35% think current crude prices are near the high they expect for oil this year, predicting the peak will be between $111 and $120 per barrel. —John Kunasek.
UK Energy Minister, Charles Hendry MP, unveiled a well-capping device developed by the Oil Spill Prevention and Response Advisory Group (OSPRAG) at the SPE Offshore Europe 2011 conference in Aberdeen. The OSPRAG well-capping device. Click to enlarge. Capping device key facts. To various points of the subsea stack.
In a pre-response to that speech, having successfully advocated for plug-in hybrids like the forthcoming Chevy Volt, we propose that the President follow that speech up with a “realistic and conservative” roadmap to halve our oil use in 10 years. Oil is holding us all hostage, economically and physically. Finally, it’s time to begin.
The Government of Canada has established a Heavy Oil Working Group. Comprising countries such as Canada, Brazil, Colombia, Mexico, the United States and Venezuela, the Heavy Oil Working Group will collaborate on clean energy research to reduce the impact of fossil fuel development. Minister Paradis. Minister Paradis.
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.
It is rapidly expanding energy use, mainly driven by fossil fuels, that explains why humanity is on the verge of breaching planetary sustainability boundaries through global warming, biodiversity loss, and disturbance of the nitrogen-cycle balance and other measures of the sustainability of the earth’s ecosystem.
In its latest Monday note, energy research company Douglas-Westwood wrote that the Exploration & Production industry (E&P), experiencing rising global hydrocarbon demand as well as rising costs, is facing the technical challenge of the development of High Pressure – High Temperature (HPHT) reserves.
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.
BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Oil production is expected to begin in late 2021. Oil production is expected to begin in late 2021. In 2013, BP (operator, with 60.5% Earlier post.).
Under the Reference case, domestic crude oil production is expected to grow by more than 20% over the coming decade; already, domestic crude oil production increased from 5.1 Over the next 10 years, continued development of tight oil (e.g., Over the next 10 years, continued development of tight oil (e.g.,
Both of Cruze’s new engines are part of Chevrolet’s global range of small-displacement engines designed with fuel efficiency in mind, including technology such as full variable valve timing that optimizes performance and fuel economy. Variable-flow oil pump. Piston-cooling oil jets. Oil-water cooler. Structural oil pan.
These should be traveling the world’s oceans by the end of 2023, serving the North American route between Emden in Germany and Veracruz in Mexico. Volkswagen was one of the first car manufacturers to subscribe to the goals of the Paris Climate Agreement that aim to limit global warming to significantly less than two degrees by 2050.
One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oil prices, however, could kill off the megaproject.
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.
The Water Disclosure Project extends this approach to managing the world’s shrinking water resources, which has become a critical global environmental and quality of life issue. Water scarcity is quickly becoming a critical global issue with significant social and environmental implications and all of us need to be part of the solution.
Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn.
Platts RigData, a forecasting and analytics unit of S&P Global Platts, announced that the US rig count for March 2017 was 901, up 67 (8%) from February 2017, and up 391 (77%) from March 2016. This rig count includes US onshore, US inland waters, and US offshore Gulf of Mexico drilling rigs.
The refinery processes mainly light, low-sulfur crude oil. Alliance receives domestic crude oil from the Gulf of Mexico by pipeline and US tight oil by marine transport. The refinery can also receive foreign crude oil by pipeline connected to the Louisiana Offshore Oil Port.
billion barrels of oil and 10.3 billion to be spent funding exploration of East Prinovozemelsky Blocks 1, 2 and 3 in the Kara Sea and the Tuapse License Block in the Black Sea, which are among the most promising and least explored offshore areas globally, with high potential for liquids and gas, the companies said. Click to enlarge.
Ford plans to cut the amount of water used to make each vehicle 30% globally by 2015, compared with the amount of water used per vehicle in 2009. Ford’s latest water reduction initiatives are designed to build on the success the company has had with its Global Water Management Initiative that launched in 2000. Reducing water use.
HF Sinclair selected Topsoe as a technology provider for the production of renewable fuels at three facilities: Sinclair, Wyoming; Cheyenne, Wyoming; and Artesia, New Mexico. With HydroFlex, customers can convert low-value feedstocks into drop-in renewable jet and diesel that meets all of the globally accepted specifications for these fuels.
Shell and its joint venture announced the start of oil production from the third phase of the deep-water Parque das Conchas (BC-10) development in Brazil’s Campos Basin. The development is the first of its kind based fully on subsea oil and gas separation and subsea pumping.
EPA received a petition from Global Clean Energy Holdings (GCEH) submitted under a claim of confidential business information (CBI), requesting that EPA evaluate the lifecycle GHG emissions for biofuels (biodiesel, renewable diesel, jet fuel and naphtha) produced from jatropha oil.
According to the MOU, Howard intends to capture its carbon emissions at Javelina, avoiding atmospheric release which contributes to global warming. As a leader in US crude oil export ports and a major economic engine of Texas and the nation, Port of Corpus Christi is the largest port in the United States in total revenue tonnage.
As a leading producer in the Gulf of Mexico with approximately 150 million barrels of oil each year, Shell also operates extensive onshore facilities in Louisiana, including its Norco and Geismar plants, a major training center in Robert, and corporate offices in New Orleans.
Joule has commissioned its first SunSprings demonstration plant in Hobbs, New Mexico ( earlier post ), where the company will prove its scalable platform for solar fuel production using a fraction of the land and capital investment required for algae-derived or agricultural biofuels. gallon without subsidies.
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