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Shell to build another massive Gulf of Mexico oil platform

Royal Dutch Shell announced on Wednesday it will build a deepwater platform in the Gulf of Mexico for its Appomattox field discovery with an estimated startup close to 2020. Shell said it authorized the major project after finding 20 percent in cost reductions and determining that it will produce a profit as long as the global benchmark for oil prices stays above $55 a barrel. International benchmark crude was priced at more than $62 a barrel early Wednesday. "Appomattox opens up more production growth for us in the Gulf of Mexico, where our production last year averaged about 225,000 (barrels of oil equivalent) per day, and this development will be profitable for decades to come," said Marvin Odum, Shell Upstream Americas director in a prepared statement. "With its competitive cost and design, Appomattox is next in our series of deep-water successes." The project would become Shell's ...

Mexico Moving Forward With Major Natural Gas Pipeline thumbnail

Mexico Moving Forward With Major Natural Gas Pipeline

On June 22, Mexico’s Federal Electricity Commission (CFE) announced it would tender a new round of 24 energy infrastructure projects totaling $10 billion, including a $3 billion underwater pipeline bringing U.S. natural gas from Texas to Tuxpan, Veracruz. Amidst a grand national “gasification” strategy that has promoted Mexican imports of U.S. natural gas, this may be one of the most ambitious projects yet. Of course there are concerns around potential risks associated with the project – whether there is the local capacity to carry it out, and whether it’s really necessary – all of which must be resolved if the pipeline is to begin transporting the proposed 2.6 billion cubic feet of natural gas per day by 2018. As for financing and construction of the Texas–Tuxpan subsea pipeline there are several options. In the case of previous tenders, interest has come from ...

Remember All That Oil in Storage? Here It Comes thumbnail

Remember All That Oil in Storage? Here It Comes

Refineries around the world are using more crude oil. To get the cheapest supplies around, they don’t have to look any further than their own storage tanks. When a global glut of crude oil sent prices plunging to near-six-year lows in the first quarter of the year, refineries started stocking up. The market gave them an incentive to do so: Oil prices for later in 2015 were higher than immediate prices, making refiners and traders eager to buy crude for cheap and store it to use or sell in the future. The strategy worked. As more and more oil entered storage, pushing U.S. inventories to the highest level in more than 80 years and prompting some companies to stash oil on ships in the ocean, the amount of crude immediately available to buyers fell. Add in a cold winter that spurred demand, and ...

Transition Streets in the US thumbnail

Transition Streets in the US

After more than a year in the making (with lots of expert and volunteer support) we have finally released our neighborhood carbon/water/waste reduction project, Transition Streets. If you are interested in what this scrappy nonprofit can do with help from a lot of friends and supporters take a look here: http://transitionstreets.org/. In a nutshell: We did not dream this up ourselves but adapted this award-winning program from Transition Town Totnes in England, for use in neighborhoods throughout the U.S. Transition Streets fits a real need. Here in the US most municipalities are trying to meet ambitious climate goals or reduce their waste streams. In California more and more talk is about the drought and what to do to conserve water. Transition Streets engages neighbors in bigger picture conversations. But more importantly, it applies just the right amount of friendly peer pressure so ...

Death of the Euro thumbnail

Death of the Euro

Vindictive eurocrats, a happy Mario Draghi, a predictably exposed Christine Lagarde, and a wise but powerless DSK O Lucky Man HOW THE AMERICAN PENCHANT FOR REGIME-CHANGE DELIVERED US INTO DYSTOPIA It hasn’t taken long today for the strutting “We can handle a Greek default” faux-confidence to evaporate among the engorged egos of the euroélite. On the whole it is becoming hourly more obvious what small, mean-minded and vindictive goblins the eurocrats all are. Juncker’s petty little address – laced with self-pity, riddled with fantasy but devoid of remorse – reveals this rubber-spined brothel-creeping bitch as a man with neither dignity nor style. Dijesslbleom’s response was made of similarly flimsy dissembling: the classic over-promoted prefect blamestorming his way from topic to topic, condemning an elected Member State government for having spotted the game plan – humiliation piled on top of debt slavery – and proclaiming the ...

Consumption

Livestock feed to overtake biofuel in grain demand

Livestock feed will surpass biofuels as the main source of growth in global grain consumption in the next 10 years as emerging countries consume more animal protein while lower oil prices and policy changes end a decade of high demand for crop-based biofuel, the FAO and OECD said on Wednesday. In their annual Agricultural Outlook report, the United Nations Food and Agriculture Organization and the Organisation for Economic Cooperation and Development confirmed a broad trend already projected last year of more moderate food commodity prices due to production gains and less vigorous demand. Prices of all major agricultural products are set to decrease in real terms over 2015-2024, although they will remain above levels seen before a surge in 2007-2008 that heralded a period of high volatility, the report said. Within the overall picture of more restrained markets, partly due to tepid economic ...

Ukraine Halts Purchases of Russian Gas thumbnail

Ukraine Halts Purchases of Russian Gas

Ukraine suspended its purchases of Russian natural gas after European Union-mediated price talks collapsed Tuesday. Russian Energy Minister Aleksandr Novak said he was "surprised" that Ukraine was demanding a much deeper discount than what he was offering. He said the price the Ukrainians wanted was out of line with current market conditions, and that the decision to stop buying Russian gas was political. Ukraine said the price cut Russia was offering was not low enough. But it said it would fulfill its contract to send Russian gas to the EU through pipelines running across Ukrainian territory. Kyiv's decision marked the second time in less than a year that Russian fuel supplies had stopped running to its westward-leaning former Soviet neighbor. The countries, which have had numerous gas price disputes in the past, plan to discuss the subject again in September, not long before ...

Asia depends on Middle East for 66 % of its oil imports thumbnail

Asia depends on Middle East for 66 % of its oil imports

This post uses data from the inter area oil movement section of the BP Statistical Review published in June 2015. It is a continuation of an earlier post on Asian oil consumption and production. Global trade and Asia’s share Total global oil trade steadily increased by 4.7% pa up to the US recession year of 2007, stagnated through the financial crisis but resumed growth in 2010, albeit at a much lower rate of 1.4% pa. In 2014, growth was only 0.5% while the volume of trade reached a record high of 56.7 mb/d. Fig 1: Global oil trade and Asian oil imports 22.9 mb/d (40% of the global total) were imports into Asia, a whopping 9.6 mb/d up from 13.4 mb/d (30%) in 2001. That is +740 kb/d pa. Where did this oil come from? Fig 2: Asian oil imports as part of global oil ...

Nuclear fusion reactor prototype to be unveiled in the UK thumbnail

Nuclear fusion reactor prototype to be unveiled in the UK

A prototype nuclear fusion reactor will be unveiled during Britain's Royal Society summer science exhibition, the country's leading showcase for new research. Start-up group Tokamak Energy, a subsidiary of the UK government's Culham Laboratory, said it expected electricity to be produced from nuclear fusion within a decade, as Britain aims to shift towards green energies. The prototype is understood to be an upgrade of the International Thermonuclear Experimental Reactor (ITER) that is currently being built in southern France, in a project funded by the European Union, US, Japan, India, China, Russia and South Korea. Its construction started in 2013, and as of June 2015 the building costs were over $14bn, three times the original figure. Based on the 'tokamak' concept of magnetic confinement, in which the plasma is contained in a doughnut-shaped vacuum vessel, the reactor aims to demonstrate the principle of producing more ...

Slovak oil deposits are drying up thumbnail

Slovak oil deposits are drying up

WHILE oil drilling has never been a big industry in Slovakia, multiple tons of crude oil have been extracted each year in Slovakia for the last century. But existing oil deposits are running out, according to the Slovak cabinet in its Report about Security of the Slovak Republic for 2014. Regardless, Slovakia has usually depended on crude oil imports for more than 99 percent of its supply. “Local extraction of crude oil compared to consumption is almost negligible”, the report states. “A trend of its gradual reduction up to the total exhaustion of oil deposits, roughly about 2020, is expected.” During about one hundred years of the oil drilling in Slovakia, 3.8 million tons of crude oil have been extracted. Last year Nafta, the company which drills for oil in Slovakia, produced 9,000 tons of crude oil and that was about 1,000 tons ...

Watering Down the Energy Debate thumbnail Watering Down the Energy Debate
Water is essential for the production of energy. Energy facilities both consume water and ...
Burket-Geneseo Shale: The Next Super Giant? thumbnail Burket-Geneseo Shale: The Next Super Giant?
Located above the Marcellus Shale in the Appalachian Basin, the Burket-Geneseo Shale "could be ...
Bakken by County thumbnail Bakken by County
North Dakota publishes monthly ND Historical Barrels of Oil Produced by County. This data ...
Big Business Wants To Control The World’s Population thumbnail Big Business Wants To Control The World’s Population
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Thursday on “The Alan Colmes Show,” Alan spoke with conspiracy author Jim Marrs about ...

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