Major 7.8 Earthquake Strikes Iran Leaves “Hundreds Dead”

It was only a week ago that Iran was shaken by a major 6.1 earthquake, striking just 100 km away from the Busher nuclear power plant: a location so “opportune” some, so inclined, saw in this phenomenon anoter demonstration of the HAARP’s capabilities. Those same people will then hardly be surprised to learn that moments […]

Peak Oil: Tar Sands To The Rescue—Not!

An observation worth noting … and pondering, from Kjell Aleklett: The IEA now considers that conventional crude oil production reached its maximum in 2008 and that it will decline by 2035. We, the IEA and IHS CERA all agree that crude oil production from currently producing fields is declining by 0.4 Mb/d per year and […]

Do We Have Enough Natural Gas?

While we are currently experiencing a glut of natural gas that has brought the price down from around $13 to around $3 per million BTUs, there are questions as to how long our natural gas supplies will last. The debate that has caught people’s attention is over whether we should export natural gas, as LNG […]

BP Doesn’t Need Large Acquisition to Replace Reserves

BP PLC (BP BP.LN), which has recently completed a $38 billion divestment program in efforts to streamline the company and bolster its financial position, doesn’t need a large acquisition to replace naturally declining reserves, the company’s top bosses said Thursday. Instead, BP has a pipeline of around 45 potential high-quality upstream projects it can develop […]

Iraq Raises Oil Reserves To 150 Billion Barrels

Iraq has raised its estimated proven crude oil reserves to 150 billion barrels from 143 billion barrels, with more oil discovered in oil fields being upgraded by international oil companies and from a new oil field in southern Iraq, the Iraqi oil minister said Wednesday. “The calculations that we have carried, indicated that our oil […]

Israel’s Natural Gas Finds Win the World’s Notice

Israel’s visiting guest this week is not a head-of-state. But he is just as important. It is Noble Energy’s Chief Executive Charles Davidson, whose company is working with government and business there to commercialize huge natural gas deposits. The point of the Texas-based oil captain’s appearance is two-fold: He and his Israeli contemporaries will be celebrating the […]

Art of the Anthropocene: The Bakken

The Bakken formation in North Dakota and Montana has helped spark a “peak oil is dead” meme in the media and elsewhere. There are reasons to believe that this latest fad is as overblown as the peak oil frenzy was in the mid-2000s. But one thing is clear: The Bakken is a big producer of oil. […]

Darwin Well Comes Up Dry

Repsol’s Darwin well in the Norwegian zone of the Barents Sea has come up dry, its co-partner in the well Faroe Petroleum reported Monday. The Darwin frontier exploration well (designated 7128/11-1) is located on the Veslemøy High in the frontier western part of the Barents Sea with 50 miles to the southwest of the recent […]

Qatar Finds First Natural Gas Deposit in 42 Years, Minister Says

Qatar, the emirate with the third- largest global reserves of natural gas, found a deposit with 2.5 trillion cubic feet of the fuel, its first discovery since uncovering the world’s biggest gas field 42 years ago. State-run Qatar Petroleum, Wintershall AG and Mitsui & Co (8031) plan to develop the reservoir in a 544 square-kilometer […]

Fossil and Nuclear Fuels – the Supply,Outlook – from Energy Watch Group

Since 1998 when the oil geologists Colin Campbell and Jean Laherrère published a widely discussed survey article “The End of Cheap Oil” in the journal “Scientific American”, the concept of peak oil and the present state of oil depletion are part of any serious analysis of the future oil supply potential. However, recently various publications […]

‘Red Lenin’ leads Russia’s oil revolution

To find the cradle of Russia’s coming oil revolution, look no further than “Red Lenin”. This is the name of the oilfield in West Siberia that is at the cutting edge of efforts to harness Russia’s vast reserves of unconventional crude, and engineer the same kind of shale boom that has changed the face of […]

New book with latest from Colin Campbell

Since 1998 when the oil geologists Colin Campbell and Jean Laherrère published a widely discussed survey article “The End of Cheap Oil” in the journal “Scientific American”, the concept of peak oil and the present state of oil depletion are part of any serious analysis of thefuture oil supply potential. However, recently various publications suggest […]

Peak Oil: Madness

An observation worth noting … and pondering, from William James more than a century ago: The most significant characteristic of modern civilization is the sacrifice of the future for the present, and all the power of science has been prostituted to this purpose. We’re spending countless hundreds of billions of dollars each year to extract […]

Chevron Announces Oil Discovery in Deepwater U.S. Gulf of Mexico

hevron Corporation (NYSE: CVX) has announced an oil discovery at the Coronado prospect in the deepwater U.S. Gulf of Mexico. The Walker Ridge Block 98 Well No. 1 encountered more than 400 feet (122 m) of net pay. The well is located approximately 190 miles (308 km) off the Louisiana coast in 6,127 feet (1,868 […]

The Best Places To Find Oil Are The Oldest Places

It’s an old oilfield maxim: The best places to find oil are in spots where it’s already been found. It’s proving true time and again in the North America oil business as small and large operators strike renewed bonanzas in West Texas, Oklahoma and other parts once perceived as past their prime. Of course, an oilfield’s […]

Pemex’s Proven Reserves Gain for Second Year After Discoveries

Petroleos Mexicanos, the state- owned company, posted a gain in its proven reserves for a second year, supported by discoveries in the Gulf of Mexico and onshore. Mexico’s reserves rose 0.4 percent to 13.868 billion barrels as of Jan. 1 from 13.81 billion a year earlier, Mexican President Enrique Pena Nieto said today on the […]

Depletion: The one word oil optimists refuse to utter

With the media is awash in stories telling us how much oil is being discovered around the world, there is one word which the optimists quoted in these stories refuse to utter: Depletion. The simple fact is that depletion never sleeps. It starts as soon as a well begins production and goes on 24 hours […]

Spain Gas Resources Estimated at 70 Years Domestic Demand

Spain, which imports about 99 percent of its natural gas, has enough prospective resources of the fuel to satisfy current demand for 70 years if shale is developed, according to a trade group for oil and gas companies. In what it called the most comprehensive study to date, the association said today in Madrid that […]

Methane hydrate flow established off Japan

Japan Oil, Gas & Metals National Corp. (Jogmec), Tokyo, said it has produced methane from methane hydrates during tests of a well drilled in about 1,000 m of water offshore the Atsumi and Shima peninsulas of Japan. The well, operated by Japan Petroleum Exploration Co., produced methane by depressurization of hydrates in a layer 270-330 […]

Oil Explorers Beware: Hackers Are Eying What You Know

While most would think that the risks junior oil and gas companies are taking in exploring new frontiers as far away as the remote reaches of Africa are related to government instability and conflict, another risk they face is right at home and lies right beyond their network firewalls. Cyber security breaches are becoming more […]

Bahamas says it will allow offshore oil exploration, then call referendum…

Offshore oil exploration will be allowed off the Bahamas, the environmental minister said Sunday, adding that a voter referendum on whether to go forward with full production will be held only after it is determined whether the island chain has commercially viable reserves. The exploratory drilling will not likely produce enough information to make a […]

Qatar Finds First Natural Gas Deposit in 42 Years

Qatar, the emirate with the third- largest global reserves of natural gas, found a deposit with 2.5 trillion cubic feet of the fuel, its first discovery since uncovering the world’s biggest gas field 42 years ago. State-run Qatar Petroleum, Wintershall AG and Mitsui & Co (8031) plan to develop the reservoir in a 544 square-kilometer […]

Is Peak Oil A Myth?

We were supposed to be close to running out of oil right now, but we have more than ever. But is that actually more dangerous than having none of it? At times, the idea of “peak oil” has been almost interchangeable with climate change. Campaigners for action on global warming have often relied on a […]

Moon mining race under way

Space exploration has long been about reaching far off destinations but now there is a race to exploit new frontiers by mining their minerals. Google has offered a $20m grand prize to the first privately-funded company to land a robot on the moon and explore the surface by moving at least 500 metres and send […]

Microbes Thriving Deep Within the Earth

Every living thing from bacteria to President Barack Obama is made of carbon from exploding stars. Billions of years ago, motes of carbon and other stardust formed the Earth. Carbon is the basis of all life but most vanished deep inside the planet, researchers now believe. And surprisingly, life thrives inside the rocky layers kilometres […]

China Maps Out Venezuela’s Valuable Resources

An agreement signed by the government of Venezuela and the Chinese state-owned company Citic Group for prospecting and mapping the country’s mining reserves is being challenged by both the opposition and experts who argue that it will leave valuable natural resources dangerously exposed. Oil and Mining Minister Rafael Ramírez said “the mining map will be […]

The Top Oil Finds Of 2013

Last year was a record one for major new discoveries, and 2013 has so far demonstrated that the road to discovery still has plenty of mileage. The past two months alone have netted new finds in Egypt, a flurry of promising exploration results in East and West Africa, some important moves toward commercial viability in […]

Post Carbon David Hughes New Shale Gas Report: Drill Baby Drill

A provocative new analysis of so-called unconventional fuel reserves in the United States concludes that the exuberant forecasts are simply unwarranted based on the facts of geology. In short, the hype around shale gas is just that. Hype. We speak with the author of the Drill Baby Drill study. David Hughes is a fellow at […]

Next oil boom could be buried beneath fertile Calif. farmland

Thousands of feet below some of the nation’s most fertile farmland could be 15.4 billion barrels of crude oil. Billion, with a “B.” The federal government believes the Monterey Shale, which lies under more than 1,750 square miles of central and southern California, has far more shale oil than anywhere else in the lower 48 […]

TAQA Makes North Sea Oil Discovery

Abu Dhabi National Energy Co. said it has discovered oil at the new Darwin field in the North Sea off the coast of Scotland. Two oil columns were discovered during the Darwin drilling program, which started in November, TAQA said in an emailed statement. One well has been suspended for the purpose of future well […]

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