Archives de catégorie : press and newspapers

Crude Oil Price Forecast: $100 per barrel by 2019

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.

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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.

 

UN climate stalemate sees extra week of talks added

by Matt McGraph, May 10, 2018 in BBC-Sci&Env


UN negotiations in Bonn are set to end in stalemate today as delegates have become bogged down in technical arguments about the Paris climate pact.

Poorer nations say they are fed up with foot dragging by richer countries on finance and carbon cutting commitments.

Some countries, led by China are now seeking to renegotiate key aspects of the Paris agreement.

 See also : China Wants To Renegotiate The Paris Climate Accord
See also : Bonn bombs, climate pact in disarray

Permian Basin Is Growing Into the Largest Oil Patch in the World

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.

Utica report card: Ohio’s natural gas production at record levels

by Shane Hoover, April 4, 2018 in Inde.Online.com


Utica Midstream conference gives update on Utica Shale production and development.

NORTH CANTON Ohio has produced more natural gas than it uses since early 2015. Driven by prolific Utica Shale wells, the state produced a record 1.7 trillion cubic feet of natural gas last year.

Much of the regional economic development around that production has been in the form of pipelines and processing facilities.

Two interstate natural gas pipelines — Energy Transfer’s Rover project and the NEXUS Gas Transmission pipeline — cross Stark and neighboring counties.

Bahrain hits (black) gold with biggest shale discovery in world

by Catherine Philp, April 5, 2018 in TheTimes


Sheikh Mohammed bin Khalifa al-Khalifa said it was not yet known how much of the oil could be extracted. The scale of the find, however, is about to make it a big player in the global market, significantly boosting its economy and raising its profile in the region, where it plays a smaller fiddle to its giant neighbour, Saudi Arabia.

See also here

Le pétrole américain à l’assaut du marché

by L’essentiel, 18 mars 2018


Grâce à une production de pétrole en plein boom, les États-Unis exportent désormais sans complexe leur or noir dans le monde, entraînant une refonte des infrastructures sur leur territoire et rebattant les cartes sur le marché mondial. En pompant actuellement plus de 10 millions de barils par jour, le pays est devenu le deuxième producteur de brut au monde, derrière la Russie et devant l’Arabie saoudite. Un essor lié aux nouvelles techniques permettant d’extraire à moindre coût du pétrole de schiste

Germany Is a Coal-Burning, Gas-Guzzling Climate Change Hypocrite

by P. Hockenos, November 13, 2017 in FPNews


Yet Germany’s image as selfless defender of the climate, which was once largely deserved, is now a transparent fiction. Germany has fallen badly behind on its pledges to sink its own greenhouse gas pollutants. In fact, Germany’s carbon emissions haven’t declined for nearly a decade and the German Environment Agency calculated that Germany emitted 906 million tons of CO2 in 2016 — the highest in Europe — compared to 902 million in 2015. And 2017’s interim numbers suggest emissions are going to tick up again this year.

A ‘Major Second Wave’ of U.S. Fracking Is About to Be Unleashed Upon the World

by J. Worland, March 6, 2018 in Time


The widespread adoption of fracking in the U.S. opened billions of barrels of oil and trillions of cubic feet of natural gas to production and transformed the global energy sector in a matter of a few years. Now, a leading global energy agency says U.S. natural gas is about to do it again.

The International Energy Agency (IEA) said in a new forecast this week that growth in U.S. oil production will cover 80% of new global demand for oil in the next three years. U.S. oil production is expected to increase nearly 30% to 17 million barrels a day by 2023 with much of that growth coming from oil produced through fracking in West Texas.

The Next Entrant in the Shale Revolution? OPEC’s Saudi Arabia

by W. Mahdi and B. Stanley, March 7, 2018 in Bloomberg


Saudi Aramco, the world’s largest oil exporter, is set to join the shale revolution with plans to start producing unconventional natural gas this month and exploit a deposit that could rival the Eagle Ford formation in Texas.

Saudi Arabia’s gas resources from shale and other alternative supplies are “huge,” Khalid Al Abdulqader, general manager of unconventional resources at Aramco, said Wednesday in Manama, Bahrain. Production at the kingdom’s North Arabia basin will start by the end of March and reach its target by the end of this year, he said, without giving details.

Scientists Admit We Need Better Thermometers To Measure Climate Change

by M. Bastach, March 3, 2018 in DailyCaller


A group of prominent scientists are calling for a global network of advanced weather stations that don’t need to go through controversial data adjustments, and it’s vindication for global warming skeptics.

Seventeen climate scientists co-authored a research article published in the International Journal of Climatology calling for a global climate station network modeled after the United States Climate Reference Network (USCRN) to use as a baseline for data quality.

UK looks to fracking as cold snap exposes its poor energy supply

by J. Hodges and K. Gilblom, March 2, 2018 in BusinessDay


London — Britain’s natural gas fracking industry is using a cold snap that’s gripped large swathes of Europe this week and laid bare weaknesses in the UK’s energy supply to make its pitch.

Britain’s natural gas market has been stretched to its limits as the coldest spell since 2010 tests the nation’s energy and transport network. UK pipeline manager National Grid Plc even urged industry to curb its gas usage while the cold weather persisted. (…)

Pollution Market Gets a Boost in EU With Move to Reduce Glut

by E.  Krukowska and R. Morison, February 26, 2018 in Bloomberg


European Union nations are poised to endorse the biggest overhaul of the market they created more than a decade ago to rein in pollution, a move that may lift prices of power generated from fossil fuels.

The measures, due for final approval in Brussels on Tuesday, impose tougher requirements on thousands of companies to reduce greenhouse gases or pay higher costs for their carbon dioxide emissions. They’re part of a plan to clear up a flaw in the market that left the cost of CO2 permits well below the level needed to stir investments in green energy.

‘Very, very scary’: This mammoth new shale drilling method is about to supersize the future of fracking

by Alex Nussbaum, February 23, 2018 in BloombergNews


Cube development,’ which taps multiple layers of shale all at once, could accelerate the U.S. shale boom and make the global supply glut even worse.

In the scrublands of West Texas there’s an oil-drilling operation like few that have come before.

Encana Corp.’s RAB Davidson well pad is so mammoth, the explorer speaks of it in military terms, describing its efforts here as an occupation. More than 1 million pounds of drilling rigs, bulldozers, tanker trucks and other equipment spread out over a dusty 16-acre expanse. As of November, the 19 wells here collectively pumped almost 20,000 barrels of crude per day, according to company reports.

OPEC’s Oil Price Nightmare Is Coming True

by Julian Lee, February 11, 2018 in BloombergGadlfy


The latest surge in U.S. oil output will probably hasten the country’s rise to the top of the producer pile. More important, it’s starting to look as though at least half of OPEC’s nightmare scenario for 2018 — a surge in shale output and slowdown in demand growth — is coming true.

Last week’s avalanche of releases from the U.S. Department of Energy showed daily oil production above 10 million barrels a day for the first time since 1970.

U.S. on Track to Top Russia as World’s Largest Oil Producer, Upending Global Trade and Geopolitics

by Haaretz and Reuters, January 29, 2018


Surging shale production is poised to continue pushing U.S. oil output to more than 10 million barrels per day – toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. The U.S. government forecasts that the nation’s production will climb to 11 million barrels a day by late 2019, a level that would rival Russia, the world’s top producer.

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New technology, new fields

The next phase of shale output growth depends on techniques to squeeze more oil from each well. Companies are now putting sensors on drill bits to more precisely access oil deposits, using artificial intelligence and remote operators to get the most out of equipment and trained engineers.