by Bonner Cohen, May 13, 2018 in CFACT
The Kremlin has masterminded an elaborate scheme to undermine American fossil-fuel production and distribution, concludes a report by the U.S. House Committee on Science, Space, and Technology.
Released March 1, the report, “Russian Attempts to Influence U.S. Domestic Energy Markets by Exploiting Social Media,” reveals how Russia has teamed up with U.S. and European environmental groups to use such popular outlets as Facebook, Twitter, and Instagram to turn American public opinion against the domestic oil and natural gas industry.
With the United States having surpassed Russia as the world’s largest producer of natural gas, and now ranking as the world’s fastest-growing producer of oil, the Russians have reason to fear what is more than a little competition. Saying America’s soaring energy development “poses a direct threat to Russian energy interests,” the report explains: …
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 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 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 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 Joe Ryan, April 12, 2018 in Bloomberg.News
(Bloomberg) — For all the buzz around wind, solar and electric cars, energy company executives had plenty to say Tuesday about the continuing role of fossil fuels and nuclear power at the Bloomberg New Energy Finance Future of Energy Summit.
Mining mogul Bob Murray offered a passionate defense of coal, asserting that we’d all “die in the dark” without it. Ethan Zindler, a Bloomberg New Energy Finance analyst, supplied the counter argument, saying U.S. coal-plant economics simply don’t work anymore. Here’s what executives from BP Plc to Tellurian Inc. said about the future of fossil fuels in a world pushing to fight climate change.
by Rick Wilkinson, April 12, 2018 in Oil&GasJournal
The New Zealand government has made the surprise announcement that it will not grant any new permits for offshore oil and gas exploration.
The Labor government of Prime Minister Jacinda Ardern said the move would not be retrospective. The country’s 22 existing offshore exploration permits along with any discoveries made in them could still lead to the granting of production licenses of up to 40 years duration.
by Connaissance des Energies, 24 octobre 2017
Dans cette note de synthèse en anglais, l’EIA américaine (Energy Information Administration), rappelle les grandes données énergétiques de l’Arabie saoudite qui a longtemps joué le rôle de « swing producer » sur le marché pétrolier, en faisant évoluer sa production et ses exportations selon l’offre et la demande mondiale de brut. Si le pays a perdu de son influence face à la révolution des hydrocarbures de roche-mère aux États-Unis, il constitue encore le membre central de l’OPEP, ayant joué un rôle moteur dans la décision de réduire la production des membres de cette organisation (d’autres producteurs comme la Russie s’étant associés à cet effort).
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
by Kelly Gilblom, March 26, 2018 in BloombergMarkets
Big Oil’s weight in equity indices to rise from 50-year low
Cost cuts, recovering oil prices put companies in a sweet spot
The world’s largest oil companies have survived a life-changing crisis, and are now poised to reap the rewards, Goldman Sachs Group Inc. said.
Big Oil is in a sweet spot with rising oil prices and low operating costs, leaving them with the biggest cash-flow growth in two decades and boosting earnings, Goldman said in a report Monday. That will increase their attraction for investors after years of elevated spending followed by crude’s slump sent their weighting in global equity indexes to a 50-year low, according to the bank (…)