Remove International Remove Resource Remove Supplies Remove Venezuela
article thumbnail

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).

article thumbnail

IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

Green Car Congress

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. Oil discoveries declined to 2.4

Oil 150
article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Russia supplied about 30 percent (146.6 The decision also has impacted natural gas export prices negatively, since, for Russia's long-term supply agreements, they wholly or partially are indexed to oil prices. They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects.

Russia 150
article thumbnail

Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

Green Car Congress

The showcase for Chevron’s efforts—and its international center for heavy oil technology—is the 110-year-old Kern River field in the San Joaquin Valley in California. for the first quarter of 2011, according to data from the California Department of Oil, Gas & Geothermal Resources (DOGGR). in 1988 to just above 2.3

Chevron 244
article thumbnail

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

Green Car Congress

Of the non-Saudi, non-Gulf Arab ally OPEC members, only Libyan per capita resources exceed the average. As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense. in Russian and Soviet history, Soviet economics, and International economics, and MBA in finance and marketing.

article thumbnail

State Department releases final environmental impact statement on Keystone XL Pipeline Project; analysis of GHG emissions

Green Car Congress

The proposed Keystone XL Project consists of a crude oil pipeline and related facilities that would primarily be used to transport Western Canadian Sedimentary Basin (WCSB) crude oil from an oil supply hub near Hardisty, Alberta, Canada to delivery points in Oklahoma and Texas. In 2009, Gulf Coast refineries imported approximately 5.1

Oil-Sands 253
article thumbnail

Increase in US rig count will not cap oil prices

Green Car Congress

If prices went too low the LTO operators couldn’t afford to drill, which would shrink supply and cause prices to rise. If they somehow collude to restrict supply to affect prices they will be prosecuted and perhaps sent to jail. This view was supported by the news June 9 reporting LTO pioneer Continental Resources Inc.