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Unconventional liquids become increasingly important in the total supply of liquid fuels, according to IEO2011. World oilprices remain high in the IEO2011 Reference case, but oil consumption continues to grow; both conventional and unconventional liquid supplies are used to meet rising demand. Click to enlarge.
Examples of emerging oilsands related technologies and trade-offs. The paper is an examination of how various choices about the scale of the life cycle analysis applied to oilsands (i.e., The source material is neither oil nor tar but bitumen, but is most generally described as an example of ultraheavy oil.”.
Crude and lease condensate includes tight oil, shale oil, extra-heavy crude oil, field condensate, and bitumen (i.e., oilsands, 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.
Canadian OilSands Trust, the largest stakeholder (36.74%) in the Syncrude oilsands project, announced plans to increase the synthetic crude oil production capacity at Syncrude Mildred Lake upgrader to 425,000 barrels per day by 2020 from 350,000 now. Marcel Coutu, Canadian OilSands’ President and CEO.
As oilprices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil. oil may not be able to fill.
The study also found that any absence of oilsands on the US Gulf Coast would most likely be replaced by imports of heavy crude oil from Venezuela, which has the same carbon footprint as oilsands crude. Even considering new capacity from rail, the balance between western Canadian supply and export capacity remains tight.
Oilsandssupply chain. A new report from the Council on Foreign Relations (CFR)— The Canadian OilSands: Energy Security vs Climate Change — claims that prudent greenhouse gas regulations can limit emissions from Canadian oilsands while still enabling robust development of the energy resource.
Despite what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades. Global oil demand is expected to increase by 37 percent by 2040, with a dominant proportion of that coming from developing countries—i.e. China and India.
The impact of rising oilprices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oilprices. by David Yager for Oilprice.com.
Profound shifts in the regional distribution of oil demand and supply growth will redefine the refining industry and transform global oil trade over the next five years, according to the annual Medium-Term Oil Market Report (MTOMR) released by the International Energy Agency (IEA). The oil market is at a crossroads.
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.
If West Texas Intermediate (WTI) crude oilprices stabilize at or above $60 per barrel, major parts of the United States shale sector that are currently dormant will ramp up, according to an analysis by experts in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. Baker III and Susan G.
On September 10 th , the EIA reported a production decline in the Lower 48—essentially shale production—of 208,000 BOPD (barrels of oil per day). That is a staggeringly enormous number, approximately 10 percent of the estimated global over-supply. Yet it received little attention through the week.
The five different fuel groups were those derived: from conventional petroleum; from unconventional petroleum; synthetically from natural gas, coal, or combinations of coal and biomass via the FT process; renewable oils; and alcohols. million bpd. Reduced GHG impact. Certain HRJ and FT fuels are able to reduce the GHG emissions from aviation.
World production of fossil fuels—oil, coal, and natural gas—increased 2.9% million tons of oil equivalent (Mtoe) per day, according to a Worldwatch Institute analysis. In the first half of the year, producers strained to meet global demand, but when the recession took hold later in the year the market was swamped by excess supply.
Natural gas is projected to be the fastest growing fossil fuel, and coal and oil are likely to lose market share as all fossil fuels experience lower growth rates. OECD oil demand peaked in 2005 and in 2030 is projected to be roughly back at its level in 1990. Oil, excluding bio-fuels, will grow relatively slowly at 0.6%
California’s LCFS also would have little or no impact on GHG emissions nationwide and would harm our nation’s energy security by discouraging the use of Canadian crude oil—our nation’s largest source of crude—and ethanol produced in the American Midwest. By regulating the fuel pathway of transportation fuels—i.e., NPRA President Charles T.
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.
Due to the collapse in oilprices, IHS Markit expects US producers are in the process of curtailing about 1.75 The oil market fear that characterized March and the extreme price pressure that producers felt in April have galvanized producers across North America into unprecedented action. However, nearly 1.4
The party is over for tight oil. Despite brash statements by US producers and misleading analysis by Raymond James, low oilprices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oilprices as the world production surplus continues. Click to enlarge.
Very broadly, they found that an LCFS would buffer the economy against global oilprice spikes, trim demand for petroleum, and lessen upward pressure on gas prices. Regulate the parties responsible for producing, importing, or supplying fuel. Treat all crude oils as part of the overall pool of transportation fuels.
One casualty of the oilprice 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 oilprices, however, could kill off the megaproject.
World oilprices have fallen sharply from their July 2008 high mark. As the world’s economies recover, higher world oilprices are assumed to return and to persist through 2030. In the IEO2009 reference case, world oilprices rise to $110 per barrel in 2015 (in real 2007 dollars) and $130 per barrel in 2030.
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
In contrast to arguments that peak conventional oil production is imminent due to physical resource scarcity, a team from Stanford University and UC Santa Cruz has examined the alternative possibility of reduced oil use due to improved efficiency and oil substitution. 2010, to above 140 $/bbl in constant 2010 dollars).
Incremental well-to-wheels GHG emissions from WCSB OilSands Crudes Compared to Well-to-Wheels GHG Emissions from Displacing Reference Crudes Click to enlarge. Market analysis: cross-border pipeline constraints have a limited impact on crude flows and prices. That portion of the pipeline has already been built. million bpd.
The US Department of State (DOS) has released its Draft Supplemental Environmental Impact Statement (SEIS) in response to TransCanada’s May 2012 application for the Keystone XL pipeline that would run from Canada’s oilssands in Alberta to Nebraska. The pipeline would primarily transport crude oil from the WCSB and Bakken regions.
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. Earlier post.). Additionally, U.S.
An on-board computer system will indicate to the driver the remaining power supply and the nearest charging spot. Millions of EVs and PHEVs would expand the sale of electricity as an alternative to oil. No more Big OIL - think of the extra money stimulating the economy! Electric vehicles will be available for customers in 2011.
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