article thumbnail

US EIA: US crude oil production fell by 8% in 2020, the largest annual decrease on record

Green Car Congress

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.

Oil 418
article thumbnail

New Mexico Adopts Greenhouse Gas Cap-and-Trade Program

Green Car Congress

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.

article thumbnail

EIA: proved reserves of US natural gas established a new record; oil reserves increased by 16% at the end of 2021

Green Car Congress

In 2021, proved reserves of natural gas set a new record in the United States, and proved reserves of crude oil and lease condensate increased, but not quite to pre-pandemic levels, according to the US Energy Information Administration (EIA). In 2021, Texas’s annual crude oil and lease condensate proved reserves increased by 12% (1.9

Oil 259
article thumbnail

DOE-sponsored study concludes billions of barrels of oil potentially recoverable from residual oil zones in US

Green Car Congress

Billions of barrels of oil may be potentially recoverable from residual oil zones in the US, according to initial findings from a study supported by the US Department of Energy’s Office of Fossil Energy (FE). Residual oil zones (ROZs), are areas of immobile oil found below the oil-water contact of a reservoir.

Oil 210
article thumbnail

Tesoro to purchase algae-derived green crude oil from Sapphire Energy

Green Car Congress

Under the agreement, Tesoro will purchase crude oil from Sapphire Energy’s Green Crude Farm in Columbus, New Mexico, which recently reached a new milestone: continuous cultivation and crude oil production. Furthermore, the process is scalable, and has proven to be effective with a wide range of algae strains.

Oil 218
article thumbnail

EIA: Permian region expected to drive US crude oil production growth through 2019

Green Car Congress

The US Energy Information Administration (EIA) August Short-Term Energy Outlook (STEO) forecasts that US crude oil production will average 10.7 This national increase is almost entirely driven by tight oil. Lower wellhead prices in the region are contributing to slower growth in Permian crude oil production in 2019 compared with 2018.

2019 236
article thumbnail

Sapphire Energy and Linde Group to commercialize hydrothermal treatment technology used to upgrade algae into crude oil

Green Car Congress

and The Linde Group will expand their partnership to commercialize a new industrial-scale conversion technology needed to upgrade algae biomass into crude oil. Today, this Green Crude Farm is operating year-round and producing barrels of crude oil daily. Sapphire Energy, Inc.

Oil 239