Archives par mot-clé : Hydrocarbon

The Fossil Fuel Dilemma

by David L. Debertin, November 9, 2019 in WUWT


California again easily could become one of the top three fossil fuel producing states in the nation, but the largely liberal state has made drilling for fossil fuels within the state very difficult if not impossible. So the drillers have wisely looked elsewhere for locations that pose less of a political burden. North Dakota and its leaders welcomed the drillers. The result is tax dollars flowing into the state treasury from a variety of oil-related taxes levied not only on the drillers, but on individuals receiving mineral royalty income. In the past dozen years or so this has meant that taxpayers outside the oil producing counties have seen state-level taxes drop and the state can pursue projects that benefit the residents in a host of different ways simply by using funds that would not have been available had the drilling not occurred.

The new revenue coming into New Mexico as a result of recent oil drilling on the New Mexico side of the Permian basin via fracked oil wells is a more recent phenomena, only about 3-years old. The dilemma is that New Mexico has long been left-leaning politically whereas North Dakota has been a right-leaning state. Left-leaning politicians when they hear about new state revenue from an unexpected source generally think about new government program benefiting certain favored groups (maybe the younger voters who tend to favor left-leaning politicians) rather than lowering other taxes (sales, income) that would benefit a broader base of residents both young and old. Hence, we have the New Mexico idea of offering free college tuition to the state’s residents using oil-related tax revenue.

Congo : la découverte des gisements d’Oyo change la donne pour le pays et le Continent

by La Tribune Afrique, 16 août 2019


Le Congo dispose de 2 milliards de barils de réserves de pétrole prouvées provenant d’une vingtaine de champs en cours d’exploitation. La récente découverte de pétrole onshore devrait redessiner le futur de l’industrie congolaise des hydrocarbures.

La récente découverte onshore faite dans le gisement du Delta de la Cuvette en République du Congo change la donne pour le Congo et l’Afrique. La découverte a été annoncée le 10 août par SARPD Oil et PEPA, un consortium congolais travaillant en tant qu’opérateurs du bloc.

Les premières projections indiqueraient que les gisements découverts pourraient produire jusqu’à 359 millions de barils de pétrole, soit 983 000 b/j. Cela pourrait quadrupler la production du Congo, qui se situe actuellement à plus de 330 000 barils/jour, selon les derniers chiffres de l’Opep. Le gouvernement lui s’est fixé comme objectif un volume de production de 400 000 barils/jour d’ici 2020.

«Il s’agit de notre première découverte onshore et elle nous laisse beaucoup d’espoir que nous ferons plus de découvertes, en particulier maintenant que nous allons attribuer plus de blocs pour l’exploration pétrolière dans le cycle de licences en cours», a expliqué Jean-Marc Thystère-Tchicaya, ministre congolais des Hydrocarbures dans une déclaration rapportée par la Chambre africaine de l’Energie.

Troisième producteur du Continent

….

Energy Dominance: US Crude Oil Production Tops 12 Million Barrels per Day in April!

by David Middleton, July 15, 2019 in WUWT


JULY 8, 2019
U.S. crude oil production surpassed 12 million barrels per day in April

U.S. crude oil production and lease condensate reached another milestone in April 2019, totaling 12.2 million barrels per day (b/d), according to EIA’s latest Petroleum Supply Monthly. April 2019 marks the first time that monthly U.S. crude oil production levels surpassed 12 million b/d, and this milestone comes less than a year after U.S. crude oil production surpassed 11 million b/d in August 2018.

Texas and the Federal Offshore Gulf of Mexico (GOM), the two largest crude oil production areas in the United States, both reached record levels of production in April at 4.97 million b/d and 1.98 million b/d, respectively. Oklahoma also reached a record production level of 617,000 b/d.

The U.S. onshore crude oil production increase is driven mainly by developing low permeability (tight) formations using horizontal drilling and hydraulic fracturing. EIA estimates that crude oil production from tight formations in April 2019 reached 7.4 million b/d, or 61% of the U.S. total.

Weaning US power sector off fossil fuels would cost between $4.7tn and $10tn

by Reuters News Service, June 27, 2019 in CyprusMail


Eliminating fossil fuels from the U.S. power sector, a key goal of the “Green New Deal” backed by many Democratic presidential candidates, would cost $4.7 trillion and pose massive economic and social challenges, according to a report released on Thursday by energy research firm Wood Mackenzie.

That would amount to $35,000 per household, or nearly $2,000 a year for a 20-year plan, according to the study, which called the price tag for such a project “staggering.”

The report is one of the first independent cost estimates for what has become a key issue in the 2020 presidential election, with most Democrats proposing multi-trillion-dollar plans to eliminate U.S. carbon emissions economy-wide.

Front-runner Joe Biden’s plan to get to zero emissions, for example, carries a $1.7 trillion price tag, while Beto O’Rourke’s proposal comes in at $5 trillion. Representative Alexandria Ocasio-Cortez, one of the authors of the “Green New Deal,” a non-binding Congressional resolution, put the cost of a comprehensive climate solution at around $10 trillion.

Such ideas aim to tap into a growing sense of urgency about global warming on both sides of the political divide, but have been panned by President Donald Trump and many Republicans as being unfeasible, costly, and a threat to the economy.

A power-generating wind turbine is seen in Saint-Laurent-Des-Eaux near Orleans, France

Total a commencé à exploiter le supercalculateur Pangea III à Pau

by AFP, 18 juin 2019 in ConnaissanceDesEnergies


Total a annoncé mardi qu’il avait commencé à exploiter à Pau son supercalculateur Pangea III, le plus puissant ordinateur du monde dans l’industrie avec une puissance de calcul de 25 petaflops (millions de milliards d’opérations par seconde).

Pangea III est onzième au classement toute catégories des ordinateurs, derrière des machines installées dans de grands centres de recherche aux États-Unis, en Chine, au Japon ou en Europe. Le groupe pétrolier a investi “plusieurs dizaines de millions de dollars” dans ce troisième supercalculateur, a confirmé une source proche du dossier à l’AFP.

La machine porte la puissance de calcul totale du groupe à 31,7 petaflops (soit 170 000 ordinateurs portables). Elle triple sa capacité de stockage à 76 petaoctets (près de 50 millions de films en HD).

Big Oil goes Big Green

by David Wojick, May 4, 2019 in WUWT


Climate alarmists often accuse skeptics, like myself and independent groups like the Committee For A Constructive Tomorrow and Heartland Institute, of being in the pay of Big Oil. This is completely false – the Big Lie repeated so often that people eventually believe it. We do not receive even a dime from Big Oil. It’s part of the green fairy tale that skepticism exists only because the oil companies are funding it.

For the record, none of us skeptics – climate realists – doubt or deny climate change. We all recognize that Earth’s climate is in nearly constant turmoil and fluctuation, locally, regionally or globally.

What we question is assertions that emissions from fossil fuel use have somehow replaced the sun and other powerful natural forces that have driven beneficial, benign, harmful or even hugely destructive climate changes throughout Earth and human history:

Changes such as at least five glacial periods that buried much of North America, Europe and Asia under mile-high rivers of ice, warm periods in between that melted those massive glaciers, Roman and Medieval Warm Periods, a Little Ice Age, the century-long Anasazi and Mayan droughts, the Dust Bowl, and countless other major and minor climate and weather changes.

The standard refrain is that ExxonMobil gave a cumulative few million dollars to various skeptical groups prior to 2007. But that was many years ago. They got scared off by alarmist pressure groups and haven’t given climate realists a dime since then. In fact, the situation today is completely the opposite.

Big Oil companies now give at least a billion dollars a year to climate alarmists, projects and lobbying, to drive the Manmade Climate Chaos narrative. Why would they do that? Two reasons come to mind.

Legislation Would End Oil and Gas Production In Most of California

by Katy Grimes, April 22, 2019 in CaliforniaGlobe


The “Keep it In the Ground,” anti-oil and gas industry movement is going after the industry with more legislation disguised to address health and local control issues, despite that California already has the most environmentally regulated oil and gas production in the world, regulated by more than 25 agencies.

“Keep It in the Ground” is a global protest movement opposing fossil fuel development.

California was the fourth-largest producer of crude oil among the 50 states in 2017, after Texas, North Dakota, and Alaska, and, as of January 2018, third in oil refining capacity after Texas and Louisiana.

AB 345 by Assemblyman Al Muratsuchi (D-Torrance), would increase setback distance between oil production facilities and private and public property to 2,500 feet for every well, existing or planned in the state.

According to the Western States Petroleum Association and the California Independent Petroleum Association, this bill, if passed, would effectively end oil production in many parts of the state and threaten the future of production IN ALL PARTS OF THE STATE, for example:

  • 87% of all wells in the City of Los Angeles would be shut in

  • 66% of the well in Los Angeles County would be shut in

  • Thousands of wells in Kern County will be shut in

Energy Returned On Energy Invested: Real(ish)Things That Don’t Matter, Part Trois

by David Middleton, April 24, 2019 in WUWT


In Part One of this series, we looked at Peak Oil and its irrelevance to energy production and also discussed the relevance of Seinfeld. In Part Deux, we looked at “abiotic oil,” a real(ish) thing that really doesn’t matter outside of academic discussions and SyFy blogs.

Part Trois will explore perhaps the most meaningless notion to ever come out of academia: Energy Returned On Energy Invested (EROEI or EROI depending on spelling skill). EROEI is like what Seinfeld would have been if it was written by Douglas Adams.

Abiotic Oil: Real(ish)Things That Don’t Matter, Part Deux

by David Middleton, April 16, 2019 in WUWT


In part one of this series, we looked at Peak Oil and its irrelevance to energy production. In Part Deux, we will look at “abiotic oil,” a real(ish) thing that really doesn’t matter outside of academic discussions and SyFy blogs.

A note on terminology

Some refer to this as “abiogenic oil.” This is not a useful term because all oil is abiogenic. The generally accepted theory of petroleum formation doesn’t state that it is a biogenic process. I discussed this in detail in a 2017 post. I don’t intend to restate it here.

In this post, “abiotic oil” refers to petroleum formed by processes that do not rely on biological source material. The carbon in “abiotic oil” must be inorganic.

A real example of abiotic “oil”

The Lost City Hydrothermal Field is located on the Mid-Atlantic Ridge, about 15 km (~9 mi) west of the spreading center, in water depths ranging from 750-900 m (~2,500-3,000′) (Kelley et al., 2005).

Figure 1. Lost City location map. (University of Washington)

Global Energy & CO2 Status Report

by IEA, March 2019 (.pdf)


Key Findings 2018

Global energy consumption in 2018 increased at nearly twice the average rate of growth since 2010, driven by a robust global economy and higher heating and cooling needs in some parts of the world. Demand for all fuels increased, led by natural gas, even as solar and wind posted double-digit growth. Higher electricity demand was responsible for over half of the growth in energy needs. Energy efficiency saw lacklustre improvement.

Energy-related CO2 emissions rose 1.7% to a historic high of 33.1 Gt CO2. While emissions from all fossil fuels increased, the power sector accounted for nearly two-thirds of emissions growth. Coal use in power alone surpassed 10 Gt CO2, mostly in Asia. China, India, and the United States accounted for 85% of the net increase in emissions, while emissions declined for Germany, Japan, Mexico, France and the United Kingdom.

Oil demand rose by 1.3% in 2018, led by strong growth in the United States. The start-up of large petrochemical projects drove product demand, which partially offset a slowdown in growth in gasoline demand. The United States and China showed the largest overall growth, while demand fell in Japan and Korea and was stagnant in Europe.

Natural gas consumption grew by an estimated 4.6%, its largest increase since 2010 when gas demand bounced back from the global financial crisis. This second consecutive year of strong growth, following a 3% rise in 2017, was driven by growing energy demand and substitution from coal. The switch from coal to gas accounted for over one-fifth of the rise in gas demand. The United States led the growth followed by China.

Coal demand grew for a second year, but its role in the global mix continued to decline. Last year’s 0.7% increase was significantly slower than the 4.5% annual growth rate seen in the period 2000- 10. But while the share of coal in primary energy demand and in electricity generation slowly continues to decrease, it still remains the largest source of electricity and the second-largest source of primary energy.

To Peak or Not to Peak? That is the question.

by Mike Jonas, April 8, 2019 in WUWT


A lot has been written about Peak Oil recently – perhaps more in comments than in WUWT articles themselves – and the “Not to Peak”-ers seem to be in the ascendancy. In other words, the opinions that “Peak Oil” is a fantasy and/or oil production will keep increasing for a century or more seem to be dominant.

But just how realistic are the “Not to Peak”-ers?

I had a look back at my article of 4 years ago (Peak Oil Re-visited), and I’m pretty comfortable with what I said back then. NB. I defined “Peak Oil” as When the rate of oil production reaches its maximum. With this definition, Peak Oil is not when we run out of oil, and it is not when we can’t increase the rate of oil production. If you want to use one of those other definitions then different rules apply. And I’m only talking about oil, not about oil and gas, and not about fossil fuels generally.

What I said in 2015 was:

  • The reason for oil production reaching its maximum is not specified.
  • Peak Oil is not necessarily a disaster, it could even be a positive.
  • One idea which surely is not open to argument is the fact that oil production will peak.
  • Predicting Peak Oil has always been an unrewarding exercise. People have predicted Peak Oil for over a century and have been wrong every time.
  • The principal factors affecting oil supply are: Geology, Politics, Demand, Price, Technology.
  • In spite of economic booms and busts, oil demand has been relatively inelastic.
  • Although Peak Oil may occur after say 2040, it could well be much earlier.

The third bullet above (oil production will peak) was justified by this graph, which looked at past and likely future oil production on a scale of thousands of years:

 

The shale revolution (as BP calls it) has made a difference, but it still can’t dramatically alter the shape of the graph in Figure 1. Basically, it can push the peak up, and it can elongate the tail, but it can’t move the peak very far to the right.

Figure 1. World Total Fossil Fuel Consumption, past and predicted – the long view.

What would life be like without fossil fuels such as gas and oil?

by Anthony Watts, April 6, 2019 in WUWT


Leftists like Bill McKibben of 350.org suffer from irrational fantasies that lead them to believe that we can move society forward without all the benefits that petroleum brings to our modern society.

They’re dead wrong of course, and this short humorous video illustrates just what life might be like without the many products and energy sources that are derived from petroleum. My favorite is ink, which if we didn’t get from petroleum, we wouldn’t have to see print editions of NYT, WaPo, and the Lost Angeles Times, to name a few.

You also wouldn’t be able to read this article, because the very keyboard I am typing this on is made from plastic, which you guessed it, is derived from petroleum.

According to the US Energy Information Administration (EIA), this is a list of petroleum products and their share of total US petroleum consumption in 2013.

  • Gasoline 46%

  • Heating Oil / Diesel Fuel 20%

  • Jet Fuel ( kerosene) 8%

  • Propane / Propylene 7%

  • NGL / LRG 6%

  • Still Gas 4%

  • Petrochemical Feedstocks 2%

  • Petroleum Coke 2%

  • Residual / Heavy Fuel Oil 2%

  • Asphalt / Road Oil 2%

  • Lubricants 1%

  • Miscellaneous Products / Special Naphthas 0.4%

  • Other Liquids 1%

  • Aviation Gasoline 0.1%

  • Waxes 0.04%

  • Kerosene 0.02%

U.S. Arctic Oil & Gas Exploration: A Sense of Urgency

by D. Middleton, April 3, 2019 in WUWT


I ran across a very lucid and informative article on Real Clear Energy today. The author is Robert Dillon, “a senior adviser on energy security at the American Council for Capital Formation and the former communications director of the Senate Energy and Natural Resources Committee.” The article includes numerous links to supporting information, particularly the National Petroleum Council’s (NPC) 2015 report on U.S. Arctic oil & gas resource potential.

The key findings of the 2015 NPC report were:

  1. Arctic oil and gas resources are large and can contribute significantly to meeting future U.S. and global energy needs.
  2. The arctic environment poses some different challenges relative to other oil and gas production areas, but is generally well understood.
  3. The oil and gas industry has a long history of successful operations in arctic conditions enabled by continuing technology and operational advances.
  4. Most of the U.S. Arctic offshore conventional oil and gas potential can be developed using existing field-proven technology.
  5. The economic viability of U.S. Arctic development is challenged by operating conditions and the need for updated regulations that reflect arctic conditions.
  6. Realizing the promise of Arctic oil and gas requires securing public confidence.
  7. There have been substantial recent technology and regulatory advancements to reduce the potential for and consequences of a spill.

Figure 1-1. Arctic exploration wells by country and time period. (NPC)

REPORT: GREEN ENERGY ECONOMY IS SIMPLY ‘IMPOSSIBLE’

by Mark P. Mills, March 23, 2019 in GWPF


Hydrocarbons—oil, natural gas, and coal—are the world’s principal energy resource today and will continue to be so in the foreseeable future. Wind turbines, solar arrays, and batteries, meanwhile, constitute a small source of energy, and physics dictates that they will remain so. Meanwhile, there is simply no possibility that the world is undergoing—or can undergo—a near-term transition to a “new energy economy.”

see the .pdf

Eni makes gas discovery in Nour prospect offshore Egypt

by Umar Ali, March 15, 2019 in OffshoreTechnology


Italian oil and gas company Eni has announced a new gas discovery under evaluation in the Nour exploration prospect offshore Egypt.

The prospect is located in the Nour North Sinai Concession in the Eastern Egyptian Mediterranean, 50km north of the Sinai Peninsula. The concession covers a total area of 739km2, with water depths ranging from 50-400m.

This latest discovery was made at the Nour-1 New Field Wildcat (NFW) exploratory well, which was drilled by the Scarabeo 9 semi-submersible unit in a water depth of 295m, reaching a total depth of 5,914m.

The well has not yet been tested, but Eni said it had carried out an “intense and accurate” data acquisition.

The NFW well found 33m of gross sandstone pay in the Tineh formation of Oligocene age with “good petrophysical properties” according to Eni, as well as an estimated gas column of 90m.

 

America is set to surpass Saudi Arabia in a ‘remarkable’ oil milestone

by Charles the moderator, March 11, 2019 in WUWT


From CNN Business

New York (CNN Business)Move over, Saudi Arabia. America is about to steal the kingdom’s energy exporting crown.

The United States will surpass Saudi Arabia later this year in exports of oil, natural gas liquids and petroleum products, like gasoline, according to energy research firm Rystad Energy.

That milestone, driven by the transformative shale boom, would make the United States the world’s leading exporter of oil and liquids. That has never happened since Saudi Arabia began selling oil overseas in the 1950s, Rystad said in a report Thursday.

“It’s nothing short of remarkable,” said Ryan Fitzmaurice, energy strategist at Rabobank. “Ten years ago, no one thought it could happen.”

The expected breakthrough reflects how technology has reshaped the global energy landscape. Drilling innovations have opened up huge swaths of oil and natural gas resources that had been trapped in shale oilfields in Texas, North Dakota and elsewhere.

Led by shale, US oil production has more than doubled over the past decade to all-time highs. The United States now pumps more oil than any other country, including Russia and Saudi Arabia.

“The shale boom has driven incredible increases in production,” said Fitzmaurice. “US production is off the charts.”

Another Failed Energy Prediction: Peak Oil Demand

by David Middleton, March 11, 2019 in WUWT


Jude Clemente’s energy articles on Real Clear Energy and Forbes are always worth reading.

Key takeaways:

  1. Major oil company (particularly European majors) predictions of a near-term peak in oil demand are 99.999% driven by politics and the need to appease the investment community.
  2. According to baseball legend, the late, great Yogi Berra, “It’s tough to make predictions, especially about the future.” So, make sure your timeline is long enough to evade having to take responsibility for failed predictions.
  3. Malthuisan predictions have a 100% track record of being wrong.
  4. As these United States become a net exporter of crude oil in the near future, we will have no problem finding customers.

Here are the graphs from Mr. Clemente’s article:

Figure 2. US Energy Information Administration (EIA) 2019 global petroleum liquids demand forecast.

Energy Prices Falling Rapidly

by P. Homewood, March 7, 2019 in NotaLotofPeopleKnowThat


The renewable lobby often claims that the rising cost of fossil fuels will help make renewable energy competitive.

However, oil and gas prices remain stubbornly uncooperative. Gas prices in particular are back down to levels seen last spring, after peaking last autumn.

As is usually the way, power prices have followed the same pattern.

Oil and gas are very much cyclical markets. When supply is tight, prices rise, thus attracting more investment to increase production.

Prices therefore fall, cutting profitability and new investment, and setting the whole cycle back in motion again.

How long supply can keep meeting ever rising demand is a moot point. But there is little sign of anything changing in the foreseeable future.

http://www.catalyst-commercial.co.uk/reports/227/energy-market-report—mar19/

ExxonMobil announces 5-8t cubic feet of gas off Cyprus (Update2)

by Georges Psyllides, February 28, 2019 in CyprusMail


Cyprus and ExxonMobil on Thursday announced a gas find estimated between 5-8 trillion cubic feet (tcf) in an offshore field inside the island’s exclusive economic zone.

The discovery was made in the Glafcos (Glaucus) 1 well in Block 10 of the EEZ.

“Based on preliminary interpretation of the well data, the discovery could represent an in-place natural gas resource of approximately 5 trillion to 8 trillion cubic feet (142 billion to 227 billion cubic metres). Further analysis in the coming months will be required to better determine the resource potential,” the company said in a statement.

40 ans après la révolution en Iran, l’arme géopolitique du pétrole a fait long feu

by Samuel Furfari, 5 février 2019 in L’Echo


La stratégie des anciens président iranien et vénézuélien – Ahmadinejad et Chavez comme Maduro à sa suite – qui rêvaient de mettre à genoux les États-Unis grâce à leurs réserves de pétrole, a lamentablement échoué. Qui plus est, l’Iran et le Venezuela ne sont pas des pays où il fait bon vivre…

Venezuela : quelle leçon retenir de l’échec de ce champion du pétrole ?

by Samuel Furfari, 29 janvier 2019 in  Contrepoints


La révolution bolivarienne financée par le pétrole a complètement appauvri le Venezuela. Les idéologues socialistes avaient tout faux depuis le début.

Le paradoxe est encore plus étrange car le pays est très riche en ressources naturelles. Avec 303 milliards de barils (18 %  du total mondial), le Venezuela détient les plus grandes réserves prouvées de brut au monde, loin devant l’Arabie Saoudite qui en possède 266. Pour mesurer leur ampleurs, observons que ces réserves correspondent à celles combinées de la Russie, des États-Unis et de l’Iran. Il possède également 6 400 milliards de m3 de gaz naturel – 3,3 % des réserves mondiales –  soit près de quatre fois les réserves de la Norvège, considérée en Europe comme un grand du gaz.

La plupart des réserves de pétrole prouvées du Venezuela sont situées dans le bassin du fleuve Orinoco, où 220,5 milliards de barils de pétrole lourd gisent, pratiquement inexploités. Même s’il n’est pas de première qualité, c’est quand même du pétrole. La principale zone de production se trouve dans le bassin de Maracaibo, où l’on pompe près de 50 % du pétrole vénézuélien.

Il y a pléthore de gaz et de pétrole ! Vous êtes au courant ?

by Michel Gay, 13 janvier 2019 in Contrepoints


Du gaz et du pétrole de schiste sont découverts à profusion dans le monde, notamment aux États-Unis. Qui en parle dans nos grands media ? Serait-ce politiquement incorrect de l’évoquer ?

LE SUCCÈS DU PARI DU GAZ ET DU PÉTROLE DE SCHISTE

Le Texas aux États-Unis regorge de pétrole et de gaz de schiste au point que les gazoducs existants sont saturés ! Le gaz doit même être « torché » ou « éventé ».

En attendant la mise en service de nouvelles capacités de transport, la production doit être réduite faute de pouvoir exporter les quantités extraites. La production de pétrole de schiste doit aussi être réduite en parallèle car il est extrait avec le gaz (et vice-versa).

Des projets sont en développement pour évacuer le gaz vers le Golfe du Mexique pour le liquéfier (GPL) et pouvoir ainsi l’exporter par bateau méthanier.

PREMIER PRODUCTEUR DE PÉTROLE

Les États-Unis ont dépassé la Russie et l’Arabie Saoudite pour devenir le premier producteur de pétrole brut  en 2018 a annoncé l’agence américaine de l’énergie (EIA).

Après avoir stagné autour de 6 millions de barils par jour (Mb/j) en moyenne de 1933 à 2013, la production a grimpé à 9,4 Mb/j en 2017, puis à 10,4 Mb/j en 2018, et elle passera à 11,5 Mb/j 2019.

La surabondance de gaz de schiste associé à l’extraction du pétrole de schiste a fait chuter les prix au terminal gazier à l’ouest du Texas jusqu’à 1 dollar par million d’unité thermique britannique (dollar/MM-Btu), alors qu’il vaut 13 à 14 dollars/MM-Btu sur le marché européen.

BP just discovered a billion barrels of oil in the Gulf of Mexico

by Tom DiChristopher, January 8, 2019 in CNBC


KEY POINTS
  • BP discovers 1 billion barrels of oil at its Thunder Horse field in the Gulf of Mexico.
  • The oil giant also says it will spend $1.3 billion to develop a third phase of its Atlantis offshore field south of New Orleans.
  • BP credits its investment in advanced seismic technology for speeding up its ability to confirm the discoveries.

Natural Gas Power Plants Bringing $25 Billion to the Appalachian Basin

by Jackie Stewart, October 9, 2018 in EnergyInDepth


The Appalachian Basin is driving growth of record-shattering U.S. natural gas production, which in turn has helped spur more than $25 billion in natural gas electricity generation investment in the region. In fact, there are 29 new 475-megawatt (MW) or greater natural gas-fired power plants that are in various stages of permitting, under construction or have recently become operational in Ohio (10), Pennsylvania (16) and West Virginia (3), representing more than 26,000 MW of added electric capacity, more than 17,000 jobs during construction and incredible emissions reductions in the electricity sector.

4 oil price predictions for 2019

by Steve Austin, January 7, 2019 in Oil-Price.Net


Last year, we gave out five blazing predictions as we stepped into a brand new 2018. And, how did we fare? Well, the year isn’t new anymore but we did get 5 out of 5 of our predictions right! Self-congratulations are in order reaffirming why you read us. For 2019, really it’s more of the same, but with some caveats. Investors, listen. Readers, pay heed, we are about to deconstruct the next year. As audacious as it sounds, here are our 4 oil price predictions for 2019: