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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

Green Car Congress

CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. It is the second-largest oil producer in the UK North Sea.

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Chevron Confirms first oil production from deepwater Papa-Terra offshore Brazil

Green Car Congress

Chevron’s Brazilian subsidiary and Petrobras have started crude oil production from Papa-Terra’s floating production, storage and offloading vessel (FPSO) offshore Brazil. Papa-Terra has installed capacity to produce 140,000 barrels of heavy crude per day; the project is estimated to recover 380 million barrels of oil.

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US EIA reminder: Strait of Hormuz world’s most important oil chokepoint; almost 20% of oil traded worldwide

Green Car Congress

Flows through the Strait in 2011 were roughly 35 percent of all seaborne traded oil, or almost 20 percent of oil traded worldwide. ”. They are a critical part of global energy security due to the high volume of oil traded through their narrow straits. million bbl/d was crude oil. million bbl/d in 2009-2010. —US EIA.

Oil 297
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USGS new estimates of global undiscovered, technically recoverable conventional oil and natural gas, excluding US

Green Car Congress

USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources of the world. These new estimates are for conventional oil and gas resources only. Geological Survey (USGS) released today.

Oil 218
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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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Nearly 20% of intact tropical forest landscapes overlap with extractive industries

Green Car Congress

A new study from WCS (Wildlife Conservation Society) and WWF finds that nearly 20% of tropical Intact Forest Landscapes (IFLs) overlap with concessions for extractive industries such as mining, oil and gas. The total area of overlap is 376,449 square miles (975,000 square kilometers), about the size of Egypt. Grantham et al.

Industry 284
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BP begins shipping crude oil for US West Coast through transPanama Pipeline

Green Car Congress

BP Products North America Inc. has started shipping crude oil bound for the US West Coast through Petroterminal de Panama ( PTP )’s trans-Panama pipeline, marking the start of a seven-year transportation and storage agreement between BP and PTP. Under the terms of the agreement, BP has leased a total of 5.4

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