Oil-Sands, Production and Venezuela

IHS CERA meta-analysis finds lifecycle GHG emissions for fuel produced solely from oil sands crude average 11% higher than from average crude refined in the US; high variability

Green Car Congress

NOVEMBER 15, 2012

Average values for WTW GHG emissions for oil sands and other crudes, tight boundary. When the oil sands products refined in the United States are considered—a mixture of oil sands and lower-carbon blending components—the GHG emissions are, on average, 9% higher than the average crude processed in the US.

Oil-Sands

Oil-Sands Oil Emissions United States

Eni announces first production from the Junin-5 giant heavy oil field in Venezuela

Green Car Congress

MARCH 17, 2013

PetroJunín, joint venture formed by PDVSA (60%) and Eni (40%), has started production from the Junín-5 giant heavy oil field, located in the Faja del Orinoco—the area with the largest untapped hydrocarbon reserves in the world, according to Eni. Junin 5 block in the Orinoco. Source: Eni. Click to enlarge. Deepwater Angola.

Angola

Angola Venezuela Oil Oil-Sands

EIA: US importing more crude from Canada, even as total imports falling; 25% of imports in 2011, 28% so far in 2012

Green Car Congress

NOVEMBER 28, 2012

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.

Canada

Canada Saudi Arabia Oil-Sands 2012

Opinion: Who Will Be Left Standing At The End Of The Oil War?

Green Car Congress

FEBRUARY 25, 2016

Production cost and breakeven figures that analysts enjoy bandying can trap you in bubble of black-and-white mathematics that is a few brush-strokes shy of a full picture. Saudi Arabia and Kuwait enjoy some of the lowest production costs in the world, at about $10 and $8.50, respectively, according to Rystad Energy data.

Saudi Arabia

Saudi Arabia Oil Oil-Sands Iraq

PDVSA and Eni to Form Joint Ventures to Produce and Refine Heavy Crude Oil in Orinoco Region; Targeting 240,000 Barrels per Day

Green Car Congress

JANUARY 1, 2010

Venezuela state-owned PDVSA and Italy-based Eni are finalizing a planned 60:40 joint venture to produce heavy crude oil in Junin Block 5 in the Orinoco Oil Belt in Venezuela in 2014. The initial phase, starting in 2014, is targeting the production of 75,000 barrels per day. The Orinoco Belt. Source: PFC.

Venezuela

Venezuela Oil Oil-Sands 2009

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

Green Car Congress

APRIL 27, 2017

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

Oil 2016 Oil-Sands Global

Increase in US rig count will not cap oil prices

Green Car Congress

JUNE 23, 2016

The impact of rising oil prices 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 oil prices. by David Yager for Oilprice.com.

Oil Prices

Oil Prices Oil Price Oil-Sands

Researchers develop large-scale, economical method to extract hydrogen from oil sands and oil fields

Green Car Congress

AUGUST 20, 2019

Canadian researchers have developed a large-scale economical method to extract hydrogen from oil sands (natural bitumen) and oil fields. The process can extract hydrogen from existing oil sands reservoirs, with huge existing supplies found in Canada and Venezuela.

Oil-Sands

Oil-Sands Oil Hydrogen Venezuela

IHS Markit: Canadian oil sands production to be ~1M barrels higher by 2030 but with lower annual growth; boosted by deterioration in Venezuela

Green Car Congress

JUNE 6, 2019

Canadian oil sands production is set to enter a period of slower annual production growth compared to previous years. Large scale oil sands projects take two, three, four or more years to be brought online and so the reality of a slower pace of investment and growth in the Canadian oil sands is taking shape.

Oil-Sands

Oil-Sands Oil Venezuela Production

U Calgary study finds oil shale most energy intensive upgraded fuel followed by in-situ-produced bitumen from oil sands

Green Car Congress

JULY 10, 2015

A team at the University of Calgary (Canada) has compared the energy intensities and lifecycle GHG emissions of unconventional oils (oil sands and oil shale) alongside shale gas, coal, lignite, wood and conventional oil and gas. This is not the same as crude oil occurring naturally in shales, as in the Bakken.

Oil-Sands

Oil-Sands Oil Energy Fuel

Russia’s Rosneft to invest $16B to develop Carabobo 2 extra-heavy crude in Venezuela; first oil from Junin

Green Car Congress

SEPTEMBER 29, 2012

Russian oil and gas major Rosneft, 75% owned by the government, will invest $16 billion in a planned joint venture project with Venezuela’s state oil and gas company PDVSA to develop the Carabobo 2 block in the southern Orinoco extra-heavy crude belt in Venezuela, according to Rosneft CEO Igor Sechin. oil sands).

Venezuela

Venezuela Oil Oil-Sands Gas-Electric

Argentina and Venezuela to cooperate in $2.2B 100,000 bpd extra-heavy oil joint venture in Orinoco Belt

Green Car Congress

JANUARY 19, 2012

Argentina and Venezuela will form a joint venture targeting production of 100,000 barrels of extra-heavy oil per day in the Junin field area of the Orinoco Oil Belt. The US Geological Survey (USGS) characterizes extra-heavy oil as having an API gravity of less than 10°. billion project will also include a refinery.

Venezuela

Venezuela Argentina Oil Oil-Sands

IHS-CERA concludes “no material impact” on US GHG from Keystone XL; heavy crude from Venezuela most likely replacement

Green Car Congress

AUGUST 9, 2013

In the absence of the pipeline, alternate transportation routes would result in oilsands production growth being more or less unchanged, IHS CERA found. Critics cite the steep crude oil price discounts for Canadian producers in the past year as further evidence that rail is not economic. Earlier post.). Earlier post.).

Venezuela

Venezuela Oil-Sands Oil Canada

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

Green Car Congress

JUNE 23, 2011

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.

Chevron

Chevron Oil Oil-Sands Production

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

Green Car Congress

AUGUST 26, 2011

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.

Oil-Sands

Oil-Sands Emissions Oil Oklahoma

Rosneft and PDVSA sign joint venture agreement for Orinoco heavy-oil Carabobo-2 project

Green Car Congress

MAY 24, 2013

Russian oil and gas major Rosneft, 75% owned by the government, and the Venezuelan Corporacion Venezolana del Petroleo (CVP), a subsidiary of PDVSA, signed an agreement to create a joint venture to develop heavy oil reserves in Venezuela in the framework of the Carabobo-2 project. oil sands). Earlier post.

Oil

Oil Oil-Sands Venezuela Canada

EV Driven

IHS CERA meta-analysis finds lifecycle GHG emissions for fuel produced solely from oil sands crude average 11% higher than from average crude refined in the US; high variability

Eni announces first production from the Junin-5 giant heavy oil field in Venezuela

EIA: US importing more crude from Canada, even as total imports falling; 25% of imports in 2011, 28% so far in 2012

Opinion: Who Will Be Left Standing At The End Of The Oil War?

PDVSA and Eni to Form Joint Ventures to Produce and Refine Heavy Crude Oil in Orinoco Region; Targeting 240,000 Barrels per Day

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

Increase in US rig count will not cap oil prices

Researchers develop large-scale, economical method to extract hydrogen from oil sands and oil fields

IHS Markit: Canadian oil sands production to be ~1M barrels higher by 2030 but with lower annual growth; boosted by deterioration in Venezuela

U Calgary study finds oil shale most energy intensive upgraded fuel followed by in-situ-produced bitumen from oil sands

Russia’s Rosneft to invest $16B to develop Carabobo 2 extra-heavy crude in Venezuela; first oil from Junin

Argentina and Venezuela to cooperate in $2.2B 100,000 bpd extra-heavy oil joint venture in Orinoco Belt

IHS-CERA concludes “no material impact” on US GHG from Keystone XL; heavy crude from Venezuela most likely replacement

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

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

Rosneft and PDVSA sign joint venture agreement for Orinoco heavy-oil Carabobo-2 project

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