Remove Industry Remove Production Remove Venezuela
article thumbnail

Venezuela to supply up to 400,000 barrels of heavy crude oil per day to India

Green Car Congress

State-run oil company Petróleos de Venezuela, S.A. PDVSA) and India’s Reliance Industries Limited (RIL), last week signed two agreements to boost extra-heavy crude oil production in Venezuela’s Orinoco Oil Belt (FPO) and sell up to 400,000 barrels per day (bpd) to the country. million barrels of crude oil per day.

Venezuela 247
article thumbnail

Russia’s Rosneft to invest $16B to develop Carabobo 2 extra-heavy crude in Venezuela; first oil from Junin

Green Car Congress

Russian oil and gas major Rosneft, 75% owned by the government, will invest $16 billion in a planned joint venture project with Venezuela’s state oil and gas company PDVSA to develop the Carabobo 2 block in the southern Orinoco extra-heavy crude belt in Venezuela, according to Rosneft CEO Igor Sechin. The Orinoco oil belt in Venezuela.

Venezuela 257
article thumbnail

Eni and PDVSA launch major heavy-oil projects in Orinoco Belt in Venezuela

Green Car Congress

Italy-based oil and gas major Eni and PDVSA (Petróleos de Venezuela), the state-owned oil and gas corporation of the Bolivarian Republic of Venezuela, signed contracts for the creation of two joint ventures (Empresas Mixtas, Mixed Enterprises). Daily production for Eni will be close to 100,000 barrels per day at full field development.

Venezuela 218
article thumbnail

Eni announces first production from the Junin-5 giant heavy oil field in Venezuela

Green Car Congress

PetroJunín, joint venture formed by PDVSA (60%) and Eni (40%), has started production from the Junín-5 giant heavy oil field, located in the Faja del Orinoco—the area with the largest untapped hydrocarbon reserves in the world, according to Eni. Junin 5 block in the Orinoco. Source: Eni. Click to enlarge. Deepwater Angola.

Angola 218
article thumbnail

PDVSA signs agreements with India’s Reliance and OVL for work in Orinoco

Green Car Congress

The Venezuelan state oil company, Petroleos de Venezuela, SA (PdVSA), has signed agreements with two major Indian energy companies, Reliance and OVL, for work in Venezuela’s Orinoco heavy oil belt. Reliance Industries Limited (RIL) and PDVSA signed a Joint Study Agreement for Ayacucho Block 8 in Orinoco Oil Belt.

Venezuela 231
article thumbnail

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

Green Car Congress

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. Average values for WTW GHG emissions for oil sands and other crudes, tight boundary. Source: IHS CERA.

Oil-Sands 388
article thumbnail

Researchers develop large-scale, economical method to extract hydrogen from oil sands and oil fields

Green Car Congress

The process can extract hydrogen from existing oil sands reservoirs, with huge existing supplies found in Canada and Venezuela. Thermolysis, gas reforming and water-gas shift have been used in commercial industrial processes to generate hydrogen for more than 100 years. This compares with current H 2 production costs of around $2/kilo.

Oil-Sands 375