by BBC, May 21, 2018
The well has been drilled through the Lower Bowland shale at a depth of approximately 2,700m (8,860 ft) below ground and extends laterally 800m (2,620 ft).
Francis Egan, chief executive officer of Cuadrilla, said the government’s recent announcement underlined the “national importance of shale gas”.
“We are now very close to demonstrating that Lancashire shale gas can be commercially developed in a safe and environmentally responsible manner.”
The firm said drilling on a second horizontal shale gas exploration well at the site is due to be complete soon when it will lodge a second fracking application.
It said it expects to start fracking both wells later this year.
See also: South Africa to speed up shale gas exploration applications
by Andrea Ayemoba, May 21, 2018 in AfricaBusinessCommunities
Shell Nigeria Gas (SNG) Limited has increased its domestic gas distribution capacity by 150% over the last six months. The increase in capacity will enable the company to distribute more than 100 million standard cubic feet of gas per day (MMscf/d) to businesses in its western operations.
by Pavol Szalai, May 21, 2018 in Euractiv
There is a strong possibility that Poland will build a floating Liquefied Natural Gas (LNG) terminal in Gdańsk, according to Fred H. Hutchison, who says “a lot of gas” can come to Central European markets this way.
Fred H. Hutchison is president and CEO of LNG Allies, an industry association working to expedite and maximise US exports of liquefied natural gas (LNG). In Bratislava, Hutchinson gave a speech at the Energy Committee of the American Chamber of Commerce.
Imports of natural gas from Russia have increased over the years and represented 34% of EU’s supply in 2016 according to ACER. Given the cheap price of Russian gas, do you see a window of opportunity for Amercian LNG on the European market?
by Seismological Society of America, May 17, 2018 in ScienceDaily
The experiments conducted by Lawrence Livermore National Laboratory researcher Kayla Kroll and her colleagues were prompted by a recent spike in induced earthquake activity related to oil and gas production in the U.S. and Canada. The rise in induced earthquakes has some scientists proposing changes in injection or production processes to reduce the fluid pressures that destabilize faults in these regions.
In their simulations, Kroll and colleagues “found that active management was most advantageous for wells that were closest to a fault. This scenario is most successful at reducing the total number of seismic events and also the maximum magnitude of those events,” Kroll said. In their simulations, a “close well” was one to four meters away from a fault (…)
by Andy May, May 17, 2018 in WUWT
U.S. coal production declined from 2011 through 2016 as it was displaced in U.S. power plants by cheaper and cleaner natural gas. Some of the reduction was also due to the Obama Clean Power Plan regulations. However, the shale gas revolution in the U.S. has not spread to other countries, perhaps due to the “fracking” scare, so worldwide use of coal increased rapidly until 2013. From 2000 until 2013 global coal use increased at a rate of over 4% per year. This led to an increase in U.S. coal exports (see Figure 1) because the U.S. is a low-cost producer of high quality coal. Coal consumption worldwide has flattened and is expected to stay flat through 2040, according to ExxonMobil’s 2018 Energy Outlook as well as the EIA. Currently coal provides 25% of the global energy supply and this is projected to decrease to 20% by 2040 according to ExxonMobil.
Figure 2. U.S. coal export terminal construction locations blocked by environmentalist lobbying. Source: The Wall Street Journal.
by WEO, 2017 in IEA, May 2018
Four large-scale shifts in the global energy system set the scene for the World Energy Outlook 2017: the rapid deployment and falling costs of clean energy technologies, the growing electrification of energy, the shift to a more services-oriented economy and a cleaner energy mix in China, and the resilience of shale gas and tight oil in the United States.
These shifts come at a time when traditional distinctions between energy producers and consumers are being blurred and a new group of major developing countries, led by India, moves towards centre stage.
How these developments play out and interact is the story of this year’s Outlook.
by Gary Ashton, May 12, 2018 in Investopedia
Disruption in Iran could force OPEC to adjust up production levels earlier than it had expected and could prompt U.S. shale drillers in West Texas to drill more. Despite these efforts to fill in for lost supply, analysts at Bank of America still expect oil to reach $100 per barrel in 2019.
OPEC and IEA Reports Up Next
On Monday, traders and analysts will get a look at the latest OPEC monthly oil market report. Key data to watch for are any additional upward revisions to world oil demand. Last month, OPEC revised 2018 world demand growth to 1.63 million barrels per day. Total demand for the year is forecast to average 98.7 million barrels per day. Traders will also be looking at OPEC’s world supply expectations. In last month’s report, OPEC said that it expects non-OPEC supply to grow by 1.71 million barrels per day in 2018, with the U.S. accounting for most of the supply growth.
by Paul Homewood, May 15, 2018 in NotaLotofPeopleKnowThat
From the US EIA:
Egypt, Oman, Iran, Jordan, and the United Arab Emirates (UAE) have no current coal-fired electricity generation, but they each plan to build coal capacity in the near future. New coal capacity is currently under construction in the UAE, Iran, and Jordan. In addition, Egypt and Oman have announced plans for new coal-fired generators.
In the UAE, new coal-fired capacity will come from Dubai’s Hassyan Project. The project consists of 3.6 GW of ultra-supercritical generating capacity, 2.4 GW of which is currently under construction and expected to become operational between 2020 and 2022. Another 1.2 GW was announced for a total of 6 units (with an average size of 600 megawatts (MW) expected to come online in 2023. The $3.4 billion project is sponsored by several investors, including Chinese and domestic banks.
by Oil & Energy Insider, May 11, 2018
Crude markets have seen a wave of bullish news in the last couple of weeks, and as tensions in the Middle East continue to rise and Venezuela falls further into crisis, upward pressure on prices is only increasing.
by S. Graham, May 9, 2018 in ClimateChangeDispatch
World fund managers predict a fall in the value of oil companies. According to a survey published last month in the United Kingdom, climate change risks will force a lower valuation of oil company stock prices within the next five years.
But despite many predictions of demise over the last 50 years, global consumption of hydrocarbon energy continues to grow
We’ve heard this many times before. In his address to the nation on April 18, 1977, President Jimmy Carter stated, “…we could use up all the proven reserves of oil in the world by the end of the next decade.”
by International Energy Agency, May 4, 2018
Energy produced offshore is a major component of global oil and natural gas supply and could provide an increasingly important source of renewable electricity. Resources are enormous, but offshore projects have to prove their worth in a changing market and policy context, amid a variety of pressures on the world’s oceans.
More than a quarter of today’s oil and gas supply is produced offshore, mostly in the Middle East, the North Sea, Brazil, the Gulf of Mexico and the Caspian Sea. While offshore oil production has been relatively stable since 2000, natural gas output from offshore fields has risen by more than 50% over the same period. Offshore electricity generation, mainly from wind, has increased rapidly in recent years, notably in the relatively shallow coastal waters of Europe’s North Sea.
Full report (.pdf, 80 pages)
by Tim Daiss, May 2, 2018 in OilPrice.com
As global oil markets shift their attention from U.S. shale oil production back to a resurgent Saudi Arabia and Russia and geopolitical concerns bearing down on oil prices, Citigroup said last Wednesday that the U.S. is poised to surpass Saudi Arabia next year as the world’s largest exporter of crude and oil products.
The U.S. exported a record 8.3 million barrels per day (bpd) last week of crude oil and petroleum products, the government also said Wednesday. Top crude oil exporter Saudi Arabia’s, for its part, exported 9.3 million bpd in January, while Russia exported 7.4 million bpd, the bank added.
However, it should also be noted that the Citi projection is for both crude and finished (refined) petroleum products, not only crude oil. Saudi Arabia remains the world’s largest exporter of crude, though since January amid the OPEC/non-OPEC production cut agreement that figure has fallen. On April 10, the Saudi oil minister said that the kingdom planned to keep its crude oil shipments in May below 7 million bpd for the 12th consecutive month (…)
See alos here
by Andrea Ayemoba, May 05, 2018 in AfricaBusiness
The Republic of the Congo has suffered dearly during the oil collapse; and Congolese President Denis Nguesso has pledged that the country would no longer be sitting on the side lines, suffering the effects of global decision-making in the oil industry without a voice. In an official communiqué announcing the bid for OPEC membership, he stated that he wished to “place our country in the rank of the world’s leaders.”
At nearly 2 billion barrels of crude oil of proven reserves in a vastly underexplored territory, Congo represents a sleeping giant amidst African oil producers. An improved business climate has brought profound benefits to the country’s oil industry. New developments by French oil company Total in Congolese territory are set to expand the country’s oil output from 280,000 barrels per day to 350,000 in 2018.
by J. Summers and S. Tobben, April 24, 2018 in BloombergMarkets
The Permian shale play is all about setting records. Now, the region may even become the world’s largest oil patch over the next decade.
Output in the basin is forecast to reach 3.18 million barrels a day in May, according to the Energy Information Administration. That’s the highest since the agency began compiling records in 2007. By 2023, the basin may produce 4 million barrels a day, according to the International Energy Agency. The Ghawar field in Saudi Arabia is currently the world’s biggest oil field, with capacity of 5.8 million barrels a day, according to a 2017 EIA report.