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The International Energy Agency’s Monthly Oil Statistics shows that there are differences in refinery output throughout the world. OECD Americas: Canada; Chile; Mexico; United States. Source: International Energy Agency, Monthly Oil Statistics, February 2020, Paris, France.,
Despite volatility in global oil 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 million barrels per day (b/d).
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.
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.
The Gulf of Mexico Research Initiative (GRI) Research Board announced that eight Research Consortia will be funded for the next three years with a total of $112.5 million to study the effects of the Deepwater Horizon oil spill in the Gulf of Mexico. Project Title: Gulf of Mexico Integrated Spill Response Consortium.
Cobalt International Energy, Inc., an independent oil exploration and production company focusing on the deepwater US Gulf of Mexico and offshore Angola and Gabon, announced a significant oil discovery at its North Platte prospect on Garden Banks Block 959 in the deepwater Gulf of Mexico.
The European Parliament is calling for an international ban on the use and carriage of heavy fuel oil on vessels operating in the Arctic, like that which is to apply to the Antarctic from August 2011. Research suggests that about one fifth of the world’s undiscovered hydrocarbon resources may lie in this region.
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.
Map of basins with assessed shale oil and shale gas formations, as of May 2013. Among the highlights in the 2013 report is a 10-fold increase in the estimate of technically recoverable shale / tight oil from 32 billion barrels (from the EIA’s Annual Energy Outlook 2011 ) to 345 billion barrels. Source: US EIA. Click to enlarge.
World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Source: Maugeri 2012.
Petrobras will be the first company to operate an FPSO (floating oil production, storage and outflow) type platform in the American portion of the Gulf of Mexico (GoM), in the Cascade and Chinook fields. BW Pioneer will be the first FPSO to be deployed in the US Gulf of Mexico and turret moored at the deepest waters ever for an FPSO.
Flight AC991 from Toronto to Mexico City is expected to generate at least 40% fewer emissions by using jet fuel derived from recycled cooking oil and through other fuel-saving measures, making it the most environmentally-friendly flight ever flown by Air Canada.
Chevron Corporation announced a significant oil discovery at the Anchor prospect in the deepwater US Gulf of Mexico. Anchor co-owners are Cobalt International Energy, Inc. (20%), Anchor co-owners are Cobalt International Energy, Inc. (20%), 2 encountered oil pay in multiple Lower Tertiary Wilcox Sands.
Anadarko Petroleum Corporation announced that its Shenandoah-2 well in the deepwater Gulf of Mexico encountered more than 1,000 net feet of oil pay in multiple high-quality Lower Tertiary-aged reservoirs. Vice President Deepwater and International Exploration. Click to enlarge.
In mid-December 2013, BP announced its discovery in the Gila prospect, its latest in the Paleogene in the deepwater US Gulf of Mexico. Earlier in December, Cobalt International Energy announced a significant discovery at its Lontra well in the pre-salt play offshore Angola, in which BP holds a 30% interest. Click to enlarge.
Maersk Oil and other partners declared the Azul-1 deepwater exploration well, located in Block 23 in the Kwanza Basin, a discovery well. The condition of the well prevented an assessment of flow capacity by a conventional test; this was performed as a mini-Drill Stem Test that enabled the recovery of two good quality oil samples.
Interjet and Airbus are scheduled to conduct the first Jatropha-based bio-fuel flight in Mexico today using an Airbus A320 aircraft. The aim of the demonstration flight and the project is to speed up the commercialization of aviation bio-fuel in Mexico. Phase one of the project will be the feasibility study.
Devon Energy Corporation has entered into agreements to sell all of its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to BP for $7.0 Devon and BP will also form a heavy oil joint venture to develop BP’s Kirby oil sands leases in Alberta, Canada. billion in cash. BP group chief executive Tony Hayward.
Meeting the goal of cutting US oil dependence depends largely on two things, Obama said: finding and producing more oil at home, and reducing dependence on oil with cleaner alternative fuels and greater efficiency. The Administration is pushing the oil industry to produce on leases already held.
quadrillion Btu in 2040 in AEO2014 , reflecting the impacts of increased foreign trade on international shipping and higher incomes on recreational boating. Domestic crude oil production increases sharply in the AEO2014 Reference case, with annual growth averaging 0.8 With domestic crude oil production rising to 9.5 Tcf in 2040.
Statoil executive vice president for its North American operations Bill Maloney said that the company has set a goal of recovering an average of 70% of the oil in its Johan Sverdrup field in the Norwegian continental shelf. We’ve set a very large goal for oil recovery for Johan Sverdrup.
As one of the outcomes of the “Three Amigos” meeting in Ottawa, Canada Prime Minister Justin Trudeau, US President Barack Obama, and Mexico President Enrique Peña Nieto committed to an “ambitious and enduring” North American Climate, Clean Energy, and Environment Partnership. 50% clean power target.
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.
Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Click to enlarge. Source: Chevron. Click to enlarge.
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. In its June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0 million b/d in 2022 and by an additional 1.6
World petroleum and other liquid fuels consumption will increase 38% by 2040, spurred by increased demand in the developing Asia and Middle East, according to the Reference Case projections in International Energy Outlook 2014 ( IEO2014 ), released by the US Energy Information Administration (EIA). oil sands, either diluted or upgraded).
million gallons per year of crude oil and consist of approximately 300 acres of algae cultivation ponds and processing facilities. Sapphire Energy partnered with AMEC Project Engineering, who coordinated with 16 New Mexico-based contractors, to complete the first phase of the Green Crude Farm during 12 months of active construction.
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.
An analysis of the US refining sector, based on linear programming (LP) modeling, finds that refining plausibly high volumes of Canadian oil sands crudes in US refineries in 2025 would lead to a modest increase in refinery CO 2 emissions (ranging between 5.4% to 9.3%) from a 2010 baseline, depending upon the supply scenario.
Wärtsilä has been awarded a contract to deliver an integrated propulsion system for two additional LNG offshore support vessels (OSV) to Harvey Gulf International Marine. The Wärtsilä 34DF engine can be run on natural gas, light fuel oil (LFO), or heavy fuel oil (HFO). LNGPac (LNG Bunkering, Storage and Supply System).
Mexico can increase the use of renewable energy in its energy mix from 4.4% in 2010 to 21% by 2030, according to a report released by the International Renewable Energy Agency (IRENA). Mexico could generate up to 46% of its electricity, or 280 terawatt-hours (TWh), from renewable sources each year. —Adnan Z.
A computer model that tests automobile components for crashworthiness could also be of use to the oil and gas industry, according to researchers at MIT’s Impact and Crashworthiness Laboratory, who are now using their simulations of material deformation in car crashes to predict how pipes may fracture in offshore drilling accidents.
billion barrels of oil and 10.3 billion barrels of oil and 10.3 Tuapse has estimated recoverable oil resources of 8.2 The companies have also agreed to conduct a joint study of developing tight oil resources in Western Siberia. The East-Prinovozemelsky blocks on the Russian Arctic shelf have estimated resources of 35.8
Comparison of the percent differential for WTW (well-to-wheel) GHGs from gasoline produced from WCSB oil sands using different production processes relative to gasoline produced from reference crudes. The proposed Project is not likely to impact the amount of crude oil produced from the oil sands. Source: FEIS, Appendix V.
For dewatering the company has agreements in place with two technology providers and, through inVentures, has access to an organic sieve technology for removing water from the algae oil. of Markham, Ontario; POS Pilot Plant from Saskatoon; and the international consortium Carbon2Algae Solutions (C2A). Dr. O’Leary.
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.
However, the US military can play an important role in promoting stability in major oil producing regions and by helping protect the flow of energy through major transit corridors and on the high seas, the reports suggest. In the lead report, Bartis notes that global oil supplies are finite and thus, at some point, oil production must peak.
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.
Mexico’s state oil company PEMEX Refining has awarded ICA Fluor, the industrial construction joint venture of Empresas ICA, S.A.B. and Fluor Corporation, engineering, procurement and construction (EPC) contracts for two low-sulfur gasoline projects in Mexico. Lara Sosa Refinery in Cadereyta, Nuevo Leon and the Francisco I.
GM will introduce the 2013 Chevrolet Spark minicar at the Los Angeles International Auto Show. 2L features technologies such as dual continuous variable cam phasing, electronically controlled thermostat and low-friction engine oil. In the United States and Canada, the Spark will be powered by a 1.2L lb-ft (111 N·m).
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.
Today commercial success is determined by effective international cooperation. An Environmental Impact Assessment, an Oil Spill Response Plan and other pieces of project documentation were developed and approved by regulatory authorities for the project to proceed. billion tons of oil equivalent. —President Putin.
Anglo-Australian BHP Group is merging its oil and gas business with Woodside Petroleum Ltd. Shenzi is a six-lease development in the deepwater Gulf of Mexico and is structured as a joint ownership: BHP (Operator, 72% interest) and Repsol S.A. (28% 28% interest). per share in cash.
Oil and gas operations in the United States produce about 21 billion barrels of wastewater per year, with accompanying disposal costs of about $5 billion per year. The internal potential generated between the anode and the cathode drives additional salt removal, and the energy can be harvested for electricity and chemical production.
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