Archives par mot-clé : Saudi Arabia

climate-debate

Saudi Oil Minister Praises UN Climate Agreement, Says It Won’t Slow Their Oil Sales

by N. Pope, Dec 14, 2023 in WUWT

The Saudi Arabian energy minister said Wednesday that the new United Nations (UN) green energy transition pledge will not diminish the country’s ability to sell fossil fuels, according to Al Arabiya, a Saudi Arabian news outlet.

Prince Abdulaziz bin Salman said that the landmark international pledge to transition away from fossil fuels will not affect Saudi Arabian crude oil sales, according to Al Arabiya. The UN hailed the agreement as “the beginning of the end” for fossil fuels, but Saudi Arabia, one of the world’s largest producers of crude oil, does not seem especially concerned that the pledge spells doom for the country’s economic lifeblood.

Nearly 200 countries, including the U.S., signed onto the energy transition pledge on Wednesday, just before the annual UN climate summit adjourned.

“The pharaoh methodology of dictating things has been buried, and so people are free in their choices,” Prince Abdulaziz bin Salman, the oil minister, told Al Arabiya in an interview. He also said explicitly that the COP28 pledge would not hurt the country’s ability to sell crude oil. (RELATED: Biden To Visit Saudi Arabia After Once Vowing To Make Them A ‘Pariah’ During 2019 Debate)

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better to know...?, energy and fields

Peak Ghawar: A Peak Oiler’s Nightmare

by David Middleton, April 10, 2019 in WUWT

Alternate title:

No… “The biggest Saudi oil field is [NOT] fading faster than anyone guessed”… Part Trois: Why Peak Oil Is Irrelevant and the Perpetually Refilling Abiotic Oil Field Is Abject Nonsense

 

Saudi Aramco’s recent bond prospectus has generated a lot of media buzz, particularly regarding the production from Ghawar, the largest oil field in the world. Reaction has ranged from “The biggest Saudi oil field is fading faster than anyone guessed,” (not even wrong) to more subdued reactions from Ellen Wald and Robert Rapier, that the prospectus doesn’t really tell us much Ghawar’s decline rate. One thing that the bond prospectus did do, is to paint a picture of the most profitable company in the world and one that is serious when it says it will produce the last barrel of oil ever produced on Earth.

How big is Ghawar? Has it peaked? Is it “fading faster than anyone guessed”? The answer to the first question is: FRACKING YUGE. The answer to the second question was not easily answerable before Saudi Aramco began the process of becoming a publicly traded company. The answer to the third question is: Of course not.

As Saudi Aramco proceeds towards a 2021 IPO, it has had to embrace transparency. This involved an audit of the proved reserves in their largest fields, comprising about 80% of the company’s value. The audit was conducted by the highly respected DeGolyer and MacNaughton firm (D&M). The audit actually determined that the proved reserves are slightly larger than Aramco’s internal estimate.

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energy and fields

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.”

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energy and fields

Fracking the World: Despite Climate Risks, Fracking Is Going Global

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

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renewable energy

Failure of ‘World’s Biggest Solar Project’ in Saudi Arabia Is No Surprise

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).

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energy and fields

Situation énergétique de l’Arabie saoudite en 2017

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).

energy and fields, press and newspapers

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.