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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.
Five states (Texas, North Dakota, California, Alaska, and Oklahoma) and the Gulf of Mexicosupplied more than 80%, or 6 million barrels per day, of the crude oil (including lease condensate) produced in the United States in 2013, according to the US Energy Information Administration (EIA). Click to enlarge.
Crude oil imports from the top five foreign suppliers to the United States—which in 2012 were Canada, Saudi Arabia, Mexico, Venezuela, and Iraq, in that order—accounted for almost 72% of total US net crude oil imports, the highest proportion since 1997, according to the US Energy Information Administration (EIA).
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.
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.
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.
The Obama Administration will expand oil and gas development and exploration on the US Outer Continental Shelf, while protecting fisheries, tourism, and places off US coasts that it says are not appropriate for development. The Department of the Interior’s Minerals Management Service estimates that the Gulf of Mexico contains 36-41.5
The latest Rasmussen Reports national telephone survey of Likely Voters shows that 75% do not think the country is doing enough to develop its own gas and oil resources. 49% said, when given the choice, that increasing the supply of oil by finding new sources is a better energy policy than reducing demand by cutting gas and oil consumption.
General Motors has developed a method to convert an estimated 100 miles of the oil-laden plastic boom material used to soak up oil from the BP spill in the Gulf of Mexico earlier this year into parts for the Chevy Volt. Video of processing the boom material. Click to launch.
Crude and lease condensate includes tight oil, shale oil, extra-heavy crude oil, field condensate, and bitumen (i.e., oil sands, either diluted or upgraded). oil shale), and refinery gain. OPEC oil producers are the largest source of additional liquid fuel supply between 2010 and 2040.
Domestic crude oil production increases sharply in the AEO2014 Reference case, with annual growth averaging 0.8 While domestic crude oil production is projected to level off and then slowly decline after 2020 in the Reference case, natural gas production grows steadily, with a 56% increase between 2012 and 2040, when production reaches 37.6
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.
US crude oil production for October averaged 5.36 Even though crude production last October had recovered from precautionary platform shut-ins in the Gulf of Mexico in the face of hurricanes Gustav and Ike last September, output levels then were still lower than this October’s by nearly 15%. API Statistics Manager Ron Planting.
for deep water umbilical projects in the Gulf of Mexico that could be worth as much as $300 million in total. and Nexans for the Gulf of Mexico, which ran from 2002 to 2008. and Nexans for the Gulf of Mexico, which ran from 2002 to 2008.
US Energy Secretary Ernest Moniz announced more than $22 million in new investments to help develop cost-competitive algae fuels and streamline the biomass feedstock supply chain for advanced biofuels. Based in Lihue, Kauai, Hawaii Bioenergy will develop a cost-effective photosynthetic open pond system to produce algal oil. Nearly $16.5
Growth of production of Canadian oil sands. The Canadian oil sands are now poised to become the number one source of US crude oil imports in 2010, according to new research from the IHS CERA Canadian Oil Sands Dialogue. Also certain fields in the Gulf of Mexico and the Middle East have comparable GHG emissions. —“The
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.
Associated sanctions on Russia—with more than 5 million b/d in crude oil processing capacity—disrupted exports of Russia’s refined products into the global market, and will likely continue to do so as import bans in the European Union and United Kingdom come into full force. million b/d in 2022 and by an additional 1.6
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.
These forces could snap offshore oil pipelines in the Gulf of Mexico and other hurricane-prone areas, the study suggests. The Gulf of Mexico (GOM) region provides nearly 30% of the United States oilsupply and 20% of its natural gas. A hurricane might also create its own spills, the new research indicates.
GE Oil & Gas will supply three customized aeroderivative gas turbine-generator modules to provide reliable electric power for a new Chevron floating production unit that will produce oil and gas from the Jack and St. The LM2500+G4. Chevron’s initial development of the Jack and St. million cubic feet of natural gas per day.
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.
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.
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.
LNGPac (LNG Bunkering, Storage and Supply System). The Wärtsilä 34DF engine can be run on natural gas, light fuel oil (LFO), or heavy fuel oil (HFO). Offshore Service Vessels, performing critical supply services to the offshore Oil & Gas platforms, require a high level of redundancy and operational reliability.
A new, University of Georgia-led study—the first to examine comprehensively the magnitude of hydrocarbon gases released during the Deepwater Horizon Gulf of Mexicooil discharge— found that up to 500,000 tons of gaseous hydrocarbons were emitted into the deep ocean. million barrels of oil, depending on the method used.
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.
A new Gallup poll has found that 47% of Americans say production of energy supplies should be prioritized , while 44% says environmental protection should be; this is a closer division than last year, when energy led by 50% to 41%. These results are based on Gallup’s annual Environment poll, conducted 8-11 March. Click to enlarge.
Mexico can increase the use of renewable energy in its energy mix from 4.4% The scale-up of renewables can drive diversification in Mexico’s energy supply, potentially reducing coal demand by 62%, natural gas by 21% and oil by 6% in 2030, compared to what current policies would achieve. —Adnan Z.
Royal Dutch Shell plc (Shell) made final investment decision (FID) to advance the Appomattox deep-water development in the ultra-deepwater Gulf of Mexico. This decision authorizes the construction and installation of Shell’s eighth and largest floating platform in the Gulf of Mexico.
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.
Facing persistent shortages in domestic supply, the US has been forced to rely on imported materials, leaving clean energy technology production at greater risk of disruption. Selected projects fall under 12 areas of interest, corresponding to the selected US basins that have the potential to produce rare earth elements and critical minerals.
US imports of Canadian crude oil rose to record levels during the first eight months of 2012, with Canada accounting for a growing share of total gross US imports, according to the US Energy Information Administration (EIA). Canada is the largest supplier of foreign oil to the United States, followed by Saudi Arabia, Mexico, and Venezuela.
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.
Since then, support for expanding production of oil and other traditional sources has increased among most demographic and political groups; the shift among Republicans has been particularly pronounced. Fully 89% of Republicans favor allowing more offshore oil and gas drilling while only half of Democrats agree.
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.
Aeromexico is using a 15% blend of Honeywell Green Jet Fuel, produced from camelina using process technology from Honeywell’s UOP, on flights on its Mexico City to San Jose, Costa Rica route, marking one of the first uses of renewable fuels in everyday airplane passenger service.
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.
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 Linde Group and algal-based crude oil and algal fuels developer Sapphire Energy, Inc. In addition, Linde will supply all of the CO 2 to Sapphire’s commercial demonstration facility in Columbus, New Mexico. The need for new sources of fuel as dependency on oil becomes more and more problematic is clear.
Fred Diaz, President and CEO - Ram Truck Brand and Chrysler de Mexico, introduces the 2014 Ram ProMaster at the Chicago Auto Show. diesel comes from a number of design features, such as: Isolated oil pan. An oil-level sensor contributes to an oil-change schedule of up to 18,500 miles. Click to enlarge.
The US Department of Agriculture (USDA) has changed a reporting category in its World Agricultural Supply and Demand Estimates (WASDE) report to reflect that for a given bushel of corn used for ethanol, some of it returns as byproducts including animal feed. Delta Farm Press. The change does not reflect the relative proportions.
Exxon Mobil has started production at its Kearl oil sands expansion project in Alberta, Canada ahead of schedule; the expansion is expected to double overall capacity to 220,000 barrels of bitumen a day, with the expansion itself ultimately expected to reach 110,000 barrels per day. Kearl will access approximately 4.6 Earlier post.).
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