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.”
by Justin Mikulka, March 4, 2019 in Desmog
The U.S. exported a record 3.6 million barrels per day of oil in February. This oil is the result of the American fracking boom — and as a report from Oil Change International recently noted — its continued growth is undermining global efforts to limit climate change. The Energy Information Administration predicts U.S. oil production will increase again in 2019 to record levels, largely driven by fracking in the Permian shale in Texas and New Mexico.
And the U.S. is not alone in trying to maximize oil and gas production. Despite the financial failures of the U.S. fracking industry, international efforts to duplicate the American fracking story are ramping up across the globe.
The CEO of Saudi Arabian state oil company Aramco recently dismissed the idea that global demand for oil will decrease anytime soon and urged the oil industry to “push back on exaggerated theories like peak oil demand.”
But Saudi Aramco also is gearing up for a shopping spree of natural gas assets, including big investments in the U.S., and increasing gas production via fracking in its own shale fields. Aramco is deeply invested in keeping the world hungry for more oil and gas.
Khalid al Falih, Saudi Arabia’s energy minister, told the Financial Times, “Going forward the world is going to be Saudi Aramco’s playground.” But not if other countries frack there first.
China Expanding Fracking Efforts, Testing New Technology
by Jason Deign, October 2, 2018 in gym
Renewables developers eyeing Saudi Arabia remain wary of the market following the news that the world’s biggest solar project has been canceled.
The $200 billion, 200-gigawatt solar plant planned by SoftBank and the Saudi Public Investment Fund had raised skepticism among developers when it was announced in March, partly because of technical concerns over how it might be integrated into the grid.
The main worry, though, was that the megaproject appeared to have been approved independently of plans for an orderly ramp-up of solar through a tender program managed by the Saudi Renewable Energy Project Development Office (REPDO).
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 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.