Bakken, North Dakota & Production by County
This was a good month for the Bakken. Production was up 36,653 bp/d to 974,695 bp/d. All North Dakota was up 36,379 bp/d to 1,039,635 bp/d. This meant that North Continue Reading
Bakken, North Dakota & Production by County
This was a good month for the Bakken. Production was up 36,653 bp/d to 974,695 bp/d. All North Dakota was up 36,379 bp/d to 1,039,635 bp/d. This meant that North Continue Reading
Significant fuel economy improvement options exist for light-duty gasoline vehicles
Although light-duty vehicle types such as diesel, full-hybrid, plug-in hybrid, and plug-in electric have garnered significant attention in recent years as ways to reduce petroleum consumption and lower consumer fuel costs, standard gasoline vehicles, including those that use micro and mild hybridization, are projected to retain nearly 80% of new sales in 2025 and 78% in 2040 in EIA’s Annual Energy Outlook 2014 Reference case. Several fuel-efficient technologies that can deliver significant reductions in fuel consumption are currently or will soon be available for standard gasoline vehicles. These technologies can enable manufacturers to meet future greenhouse gas emissions and Corporate Average Fuel Economy (CAFE) standards, at a relatively modest cost . These technologies include: Engine technologies such as variable valve timing and lift, cylinder deactivation, turbocharging, and downsizing Electrification technologies such as […]
Shell Reports Deepwater Discovery in Eastern Gulf of Mexico
Royal Dutch Shell PLC said it made a third major oil discovery in the Norphlet play in deep waters of the eastern Gulf of Mexico. Shell’s Rydberg well is 75 miles offshore in 7,479 feet of water. The well, which was drilled to a depth of 26,371 feet, encountered more than 400 feet of net oil pay. Shell expects the discovery contains an estimated 100 million barrels of oil equivalent. The latest discovery brings Shell’s total potential discoveries in the Norphlet play to more than 700 million barrels of oil equivalent. "These successes represent the emergence of another hub for Shell’s deep-water activities that should generate shareholder value," said Marvin Odum, Shell Upstream Americas director. Shell has an operator interest in the Rydberg discovery of 57.2%. The U.S. affiliate of Colombia’s state-run oil company Ecopetrol SA has a 28.5% interest and the Nexen subsidiary of Chinese oil major Cnooc […]
IEA warns U.S. on energy security
Energy security is more about diversity than abundance in any one particular resource, the head of the IEA warned the United States. International Energy Agency Executive Director Marian van der Hoeven told delegates gathered in Washington for the annual conference of the Energy Information Administration there may be trouble on the horizon for the United States. "Energy security is about much more than supply, and it’s about more than the here and now," she warned . Advancements in drilling technology have given exploration and production companies access to oil and natural gas reserves previously inaccessible. This, in turn, has moved the United States to the top of the list of global energy producers. The peak likely won’t last much beyond the 2030s, the executive director warned. While oil and natural gas are abundant now , policymakers on Capitol Hill need to look to the future energy scenario. "It’s in […]
Ireland welcomes Robinson as U.N. climate czar
The Irish government welcomed the decision from the United Nations to appoint its former president, , as the special envoy for climate change. U.N. Secretary-General Ban Ki -moon appointed Robinson to serve as special envoy for climate change to mobilize political will ahead of the next international climate summit in September. Robinson became the first female president of Ireland in 1990 and then acted as the U.N. High Commissioner for Human Rights from 1997 to 2002. She’s currently a member of The Elders, a peace advocacy group formed in part by Nelson Mandela . Joan Burton, deputy prime minister of Ireland, said Robinson will inject a much needed sense of urgency into the climate debate. "It is a sign of the esteem in which former President Robinson is held that she has been asked to undertake this very difficult but crucial task, and a sign of her longstanding commitment […]
Cameron thanked for sacking environment secretary
British Prime Minister was right to bring a new face to the government’s environmental body, British Friends of the Earth said Tuesday. Cameron’s administration reshuffled several key ministerial positions Tuesday. The prime minister sacked Owen Paterson as secretary of state for the environment, food and rural affairs. Paterson was criticized for his controversial stance on climate issues. "David Cameron is right to give Owen Paterson the boot — he’s the worst Environment Secretary the U.K. has had for decades," Friends of the Earth Executive Director Andy Atkins said in a statement . Friends of the Earth said Paterson had "willfully ignored" evidence of climate change. Paterson was replaced by Liz Truss. "We hope she will mark a clean break with Owen Paterson by listening to science and striving for evidence-based decision making," Atkins said. William Hague ‘s decision to stand down as foreign minister was among […]
Steam-injection blamed for Canadian oil seep
Canadian Natural Resources Ltd. said a steam-injection practice at an oil extraction site in Alberta may have led to major oil spill there last year. More than 12,000 barrels of bitumen, the viscous form of oil found primarily in Alberta, seeped from the company’s exploration areas near the Cold Lake Air Weapons Range in Alberta last year. The company initially said legacy issues at the site may have led to the incident. In a 92-page report , released to the public Tuesday, the company said a process dubbed cyclical steam stimulation, or CSS, may have contributed to what the report described as a flow-to-surface event. CSS may have cracked open other subsurface layers, allowing oil to leak out of control from the site. "The identified causes indicate that changes to steaming strategies and enhanced monitoring, as well as remediation of defective wellbores can prevent the conditions […]
Brent Crude Hits Three-month Low
Brent crude-oil futures hit a fresh three-month low Tuesday, after staging a small recovery on Monday, with events in Libya still providing an underlying bearish tone. Brent crude for August delivery fell 0.9% to $106.08 a barrel on ICE Futures Europe, continuing a run of down days since the contract topped out at a nine-month high of $115.71 a barrel on June 19. Monday’s gains were influenced by fresh concerns about security of Libya’s oil supplies, after oil officials there said its crude was struggling to make it back to market. Brent’s precipitous fall in the past month has been influenced in no small part by the prospect of the North African country’s prized light crude oil flowing after a year of severe disruption. Late Monday a missile attack on the airport in the capital Tripoli added to the sense of unease. But the gains did nothing to change […]
WTI Trades Near Two-Month Low Before Supply Data
West Texas Intermediate crude traded near the lowest price in two months before inventory data measuring the strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent fell as supply risks eased. Futures were little changed in New York. U.S. gasoline stockpiles probably increased to the highest since March and distillate supplies also rose, a Bloomberg News survey shows before an Energy Information Administration report tomorrow. Crude stockpiles, while projected to have fallen, are 5.1 percent higher than a year ago. Supplies from Iraq remains unaffected by an insurgency while Libya seeks to boost exports after two ports reopened. “For crude generally, what you are seeing is a correction from the highs of the Iraqi crisis as expectations around a possible supply disruption reversed course,” Harry Tchilinguirian , head of commodity markets strategy at BNP Paribas SA in London, said by e-mail. “For WTI in particular, […]