by David Blackmon, August 17, 2017 in Forbes
« We should view the Permian Basin as a permanent resource, » he says, « The Permian is best viewed as a near infinite resource – we will never produce the last drop of economic oil from the Basin. »
No one disputes that the resource in the Permian is huge, but ‘infinite’ is a big word. I asked him to expand on that concept.
See also here
by Daniel J. Graeber, July 28, 2017
« With the decline of North Sea gas and our ever increasing reliance on gas imports, including shale gas imported from the United States, developing an indigenous source of natural gas is critical for U.K. energy security, our economy, jobs and the environment, » Cuadrilla CEO Francis Egan said in a statement. « We are proud as a Lancashire company to be at the forefront of that effort.
par Samuel Furfari, 8 août 2017
Le Venezuela se trouve à la croisée des chemins. Se dirige-t-il vers le modernisme ou va-t-il poursuivre sa révolution bolivarienne vers le socialisme qui l’a conduit à la débâcle à laquelle nous assistons aujourd’hui ?
Le pays possède tout ce qu’il faut pour connaitre la prospérité et la paix. Ses abondantes ressources d’hydrocarbures auraient pu en faire la Norvège de l’Amérique latine
by Donn Dears, August 2017
As noted in my article four years ago, Japan has a program for producing natural gas from methane hydrates located near its coast, and predicts it will be successful by 2019.
Most people believe that Japan’s objective is highly optimistic, but it does shed light on the efforts currently underway to develop the technology for extracting natural gas from methane hydrates.
by Connaissance des Energies, 8 août 2016
Les 5 supermajors sont par ordre de chiffre d’affaires en 2015 :
Royal Dutch Shell (Pays-Bas) : 272,2 milliards de dollars et une production de 3,0 millions de barils équivalents pétrole par jour contre 421,1 G$ et 3,1 Mbeb/j en 2014);
ExxonMobil (États-Unis) : 268,9 G$ et 4,1 Mbeb/j (contre 411,9 G$ et 4,0 Mbeb/j en 2014) ;
BP (Royaume-Uni) : 226,0 G$ et 3,3 Mbep/j (contre 359,8 G$ et 3,2 Mbep/j en 2014);
Total (France): 165,4 G$ et 2,3 Mbep/j (contre 236,1 G$ et 2,15 Mbep/j en 2014) ;
Chevron (États-Unis): 138,5 G$ et 2,6 Mbep/j (contre 200,5 G$ et 2,6 Mbep/j en 2014).
by Steve Austin, July 26, 2017 in Oil-Price.Net
US wins, Middle East loses
While US scores with increased rig count and production, the oil industry in the Middle-East is festering with under investment. Said to be in trillions, the lack of investment could boomerang as supply deficit within a decade. Let’s not forget that oil exploration is a long term development in which a decade is but short. Why are the investors moving away?
by Irina Slav, July 16, 2017 in OilPrice
Weinberg advised OPEC to change tack and go back to what it set out to do initially: stifle U.S. shale by pumping at maximum. “They should let prices crash to kill shale and then aim for steady price increases in the long term,” Weinstein told Bloomberg. The question remains, however, whether OPEC, with oil-reliant budgets already strained, could afford this tactic reversal now that they’ve suffered price lows for an extended period of time.
by Andrew Follett, July 7, 2017
Saudi Arabia has lagged the U.S. in oil production for the last four years, according to federal data compiled by University of Michigan economist Mark Perry.
Perry created a chart Saturday showing just how far behind Saudi oil production has trailed U.S. production. Rising U.S. production combined with OPEC policies drove crude oil prices down to new lows. Monday, a barrel of oil costs $46.26, while the same barrel would have sold for $109.04 in June 2014.
by A. Williams et al., July 13, 2017 in Bloomberg
On Wednesday, Premier Oil Plc, Sierra Oil & Gas and Talos Energy LLC announced the first Mexican discovery by explorers other than state-owned Pemex in 80 years, a reservoir with an estimated 1.4 billion to 2 billion barrels