After the Boom in Natural Gas

THE crew of workers fought off the blistering Louisiana sun, jerking their wrenches to tighten the fat hoses that would connect their cement trucks to the Chesapeake Energy drill rig — one of the last two rigs the company is still using to drill for natural gas here in the Haynesville Shale. At its peak, […]

Iranian Latest

The above shows the available public data on Iranian oil production as of this moment.  The slide continues.  You may wonder if there’s a little sign of stabilization in the OPEC secondary numbers in the last month, but the previous month also showed that sign but then it got revised away.  So I think for […]

China Unlikely to Replicate US Shale Gas Boom

China is unlikely to replicate the shale gas boom of the United States in speed or scale, but low drilling costs and high local gas prices make it attractive to drill for unconventional gas reserves, says the top executive at one of the few foreign companies drilling for gas in China. China has ambitious plans […]

Exxon seeks to quit flagship Iraq oil project

Exxon Mobil wants to leave its flagship Iraqi oil project after upsetting Baghdad by signing a deal last year with the autonomous northern Kurdish region, which the central government deemed illegal. It wants to leave its contract to develop the giant West Qurna-1 oilfield in southern Iraq , diplomatic sources said on Thursday, because of […]

Norway, Afflicted by Peak Oil, Invades the U.S. Bakken Reserves

The Energy Information Agency (EIA) of the Department of Energy (DOE) recently reported increased oil production from the Bakken formation, an area of about 200,000 square miles located in Williston Basin found in parts of North Dakota, Montana and Saskatchewan. “North Dakota’s oil production averaged 660 thousand barrels per day (bbl/d) in June 2012, up […]

Italy plans to double its oil, gas production by 2020

Italy intends to double its domestic production of oil and gas by 2020 and boost renewable energy power generation as it moves to cut consumers’ energy costs and boost flagging economic growth. A new energy strategy, presented to the cabinet on Tuesday, said it aims to have 14 percent of its energy needs met by […]

Global Oil Production Set to Skyrocket

Climate change or no climate change, crude production is going up spectacularly If you are at all concerned about the effect of the consumption of fossil fuels on climate change, brace yourself. It is inevitably going to grow dramatically, and soon. By 2020 – just eight years, according to a little-noticed research paper for the […]

What Should We Do With All This New Natural Gas Supply?

Maybe, just maybe, you can turn it into a true alternative to oil. It wasn’t all that long ago — the 1970s — when American natural gas production was waning. If you look at the graph above, production of natural gas hit a peak in the early ’70s that it did not reach again until […]

IEA optimistic about future of Iraq oil industry

The International Energy Agency predicted Tuesday that Iraq will consolidate its position as a global oil power – allowing it to rebuild the economy of a nation ravaged by war and decades of Saddam Hussein’s autocratic rule. The leading global energy monitor reported that Iraq’s annual revenues from energy exports could double to an average […]

Oil and gas industry uses deceptive energy independence message to push U.S. exports

With gasoline scaling $4 a gallon recently, plans announced last week by international oil giant BP to export U.S.-produced crude oil ought to have Americans howling. For such a plan to be good energy policy–rather than merely profitable for the oil industry–the United States would have to be producing more than enough oil to meet […]

Tech Talk – Iran as an exporter of natural gas

There has been much talk in the current Presidential debates about possible changes in US Energy Policy, with Governor Romney suggesting that more Federal land be opened for prospecting for oil. Historically one of the regions included in such lists has been up in the National Petroleum Reserve in Alaska. And, perhaps anticipating the debate, […]

Iran denies steep plunge in oil exports

Iran’s oil exports have remained steady in recent months, Iran’s OPEC governor said on Saturday, denying a report from the International Energy Agency (IEA) that Iran is struggling to arrest a decline in its oil sales. In a report on Friday, the IEA estimated Iran’s exports falling to a new low of 860,000 barrels per […]

Australia Needs to Push Unconventional Energy Sources

Exxon Mobil Corp.’s Australia chairman said Thursday that the country must take advantage of unconventional fuel production methods if it is to meet its energy needs and benefit from growing demand in Asia, calling for reason to triumph over emotion in a debate over the environmental impact of new techniques. “In Australia, unconventionals bring the […]

Sweet oil flows to U.S. will dry up by 2014

U.S. imports of light, sweet crude oil – mostly West African – will fall to virtually zero by 2014 as rising domestic shale oil production and refinery closures sap demand, according to an executive of Total’s trading arm. New U.S. shale provinces are now pumping more than a million barrels per day (bpd)and the hydrocarbons […]

EIA sees US natural gas production up in 2012, 2013

The U.S. Energy Information Administration on Wednesday said it expected domestic natural gas production in 2012 to be up nearly 4 percent from 2011’s record levels. In its October Short-Term Energy and Winter Fuels Outlook, the EIA said it expected marketed natural gas production in 2012 to rise by 2.6 billion cubic feet per day […]

OPEC says ample oil supply to persist in 2013

Global oil demand is looking weaker than previously forecast as the slowing economy continues to weigh on consumption, according to monthly reports released on Wednesday by the U.S. government and OPEC. The Organization of the Petroleum Exporting Countries trimmed its forecast for growth in world oil demand in 2013 by 30,000 barrels per day (bpd) […]

Saudi oil minister says kingdom can meet demand

Saudi Arabia’s oil minister said Tuesday his country has the ability to meet existing and future demand for oil, seeking to alleviate concerns about supply and cut prices. Ali al-Naimi told reporters that the kingdom now pumps around 10 million barrels a day, and said its production capacity of more than 12 million barrels is […]

UK Unconventional Gas Will Fail to Reach Potential

A poll of oil and gas professionals has revealed that unconventional gas is unlikely to become the UK’s primary source of the commodity, despite recent estimates that there may be enough reserves to make the country energy self-sufficient. Fifty-nine percent of participants said that they felt unconventional production would come up against too many barriers […]

Will Iraq’s energy boom postpone peak oil yet again?

Well, here is a shocker for the peak oil camp. Iraq’s oil output will more than double from 2.6 million to 6 million barrels a day (b/d) by the end of the decade. This is 45pc of world oil supply growth over these years. It will reach 8 million b/d by 2035. By then, Iraq […]

Kingdom assures world of oil flow

Ankara—Minister of Petroleum and Mineral Resources Ali Al-Naimi stressed that Saudi Arabia and the Organization of Petroleum Exporting Countries (OPEC) have been ensuring a steady supply of oil to global markets at reasonable prices besides expressing their willingness to meet additional energy demand. “In the first quarter of 2012, high price levels prompted the Kingdom […]

East Africa faces energy infrastructure issue

East Africa may be the new hotspot for explorers but the region will first need to invest in infrastructure to develop and transport the products for domestic and international consumption. The region’s regulatory and infrastructure gaps could hinder the transition from gas exploration to production in the medium term, while governments need to be more […]

Cost to replace each barrel of oil produced is up 350%

Uncertain global economic conditions have not deterred upstream capital spending. As oil prices continue to rise, companies are increasingly looking in harsher climates and deeper seas to replace reserves and make up for declining production from mature fields. The cost associated with replacing a barrel of produced oil has risen dramatically over the last 13 […]

Natural gas producers restricting fresh water use

Protecting water and reducing our use of this valuable resource is a key priority for Canada’s natural gas industry. Water is essential to the recovery of natural gas from conventional and unconventional sources, such as shale rock. It is needed to drill and complete a well. Once that is done and the well starts producing […]

Gulf of Mexico Poised for Oil Resurgence

The U.S. Gulf of Mexico is on track to surpass by 2019 the peak production levels last seen before the 2010 Deepwater Horizon disaster, analysts at energy consulting firm Wood Mackenzie said Wednesday. With operators working full time to expand oil and gas production, Wood Mackenzie expects commercial deepwater production in the gulf will reach […]

Oil giants eye Arctic prize despite dangers

DRILLING for oil and gas has always been a risky business; overcoming technical, political and environmental challenges is part of the job. But last week the chief executive of the French oil giant Total, Christophe de Margerie, declared that when it came to the Arctic Ocean, the risk of a spill was simply too high. […]

Global Shale Energy Revolution: It Has Barely Begun

The Earth has barely been explored in terms of its vast energy potential. New sources of energy are cropping up in unlikely places, on an almost daily basis. Shale and other unconventional gas resources have been identified in France, Germany, Hungary, Italy, Netherlands, Poland, Romania, Spain, Sweden, Switzerland and the UK. Land and license acquisition, […]

Can the US survive Peak Oil?

In this video I take a look at the oil production and consumption of the world – countries and regions. Can the US survive Peak Oil? What would happen if WWII started? Does the US have energy and food security? BP Statistical Review 2011: http://www.bp.com/sectiongenericarticle800.do?categoryId=9037130&contentI…

Alarm bells on the longevity of oil wells in Saudi Arabia

A headline in the Telegraph of September 6 said “Saudi oil well dries up”, which is the newspaper way of sensationalising a report published by Citigroup earlier about Saudi Arabia production that raised alarms not only in Saudi Arabia but around the world. The report titled “Saudi Petrochemicals — The End of the Magic Porridge […]

Iran to start supplying natural gas to Iraq by mid 2013

Tehran: An Iranian energy official said Iran will start supplying natural gas to neighboring Iraq by the summer of 2013, the semi-official Fars news agency reported Sunday. Managing Director of National Iranian Gas Company Javad Oji said Iran has completed more than 25 percent of a pipeline to Iraq that could carry up to 25 […]

Shell still optimistic on Arctic offshore drilling

The stars lined up – almost – for Shell Oil to drill exploratory wells this year in waters off Alaska’s north coast. The Arctic Ocean was on record pace for low sea ice. The Obama administration gave a qualified green light to drilling. Two drill ships and a flotilla of support vessels were staged off […]

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