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Oil, Gas discovered in southern Pakistan


Pakistani petroleum minister said that there have been five oil and gas discoveries in southern Sindh province of the country. Shahid Khaqan Abbasi making the announcement at a press conference on Monday said these would lead to addition of 600 barrels per day of oil and 70 million cubic feet of gas. He said overall […]

Explorers continue to retreat from oil frontiers


The Great Australian Bight, an undisturbed marine reserve for whales and hundreds of aquatic species, was one of the oil industry’s most promising deep-water frontiers – a frontier where BP planned to drill. For years, environmental groups waged war on those plans until BP gave them up in October. But it wasn’t the fierce opposition […]

BP finds hidden trove of oil in Gulf of Mexico

BP finds hidden trove of oil in Gulf of Mexico thumbnail

British oil major BP has discovered 200 million barrels of oil in a hidden cache in the Gulf of Mexico, thanks to a technological breakthrough allowing the company to see beneath geological formations that had befuddled oil exploration for decades. The find, worth a potential $2 billion in recoverable oil, is in an undrilled section […]

334 Trillion Cubic Feet Of Natural Gas Discovered In USA


Technological advancements have just pushed the boundaries of recoverable oil and gas in the U.S. further, according to an announcement by the U.S. Geological Survey. The agency reported that two formations in the Gulf Coast Basin may contain as much as 304.4 trillion cubic feet of natural gas plus 1.9 billion barrels of natural gas […]

Huge! Geologists Discover The US’s Largest Natural Gas Deposit


The U.S. Geological Survey (USGS) discovered the largest continuous natural gas deposit in the country, stretching across the Gulf Coast states of Texas and Louisiana. USGS estimates between 4 billion barrels of oil and 304.4 trillion cubic feet of natural gas sit untapped in the Haynesville and Bossier shale formations. More natural gas was found […]

Is Britain’s ‘largest oil discovery in decades’ really all that?


A large oil find has been declared 60 miles west of Shetland, off the north coast of Scotland. It’s being described as the UK’s “largest undeveloped discovery”. Taken at face value, this is exciting news for an industry still reeling after the oil price collapse of the past few years (environmentalists though are less enthusiastic). […]

Why Are We Waiting (for Peak Oil)?

Why Are We Waiting (for Peak Oil)? thumbnail

Remember those long holiday road trips where the question endlessly repeated was “are we there yet”? Well, for many in the peak oil community, waiting for it to arrive has evoked a similar feeling, as the predictions of some academics, commentators, and bloggers have failed to materialize punctually. So, it’s worth revisiting some thoughtful papers […]

Down 10%, Mexico Oil Reserves Gone in 9 Years Without New Finds


Record-low drilling activity for 3 years seen as the cause Foreign explorers now working offshore offer boost by 2024 Mexico’s existing oil reserves are dwindling so fast the country could go dry within nine years without new discoveries. That’s the message from the National Hydrocarbons Commission, which said Friday that the reserves fell 10.6 percent to […]

Eni Has Over 800MM Barrels Of Oil In Place In Mexico Find


Italy’s Eni said on Wednesday it expected that its recent discovery off the coast of Mexico would hold more than the 800 million barrels of oil it originally estimated. “This is an important find and we’ve found new layers of good light oil that make us think there’s more,” Chief Executive Claudio Descalzi said at […]

Bahrain denies depletion of oil reserves in 15 years


Bahrain denied on Tuesday that the oil production in Bahrain will deplete within the next fifteen years, Al Wasat local online news reported. The Minister of Oil Shaikh Mohammed bin Khalifa Al Khalifa confirmed in the parliament session that the oil reserves will continue for the decades. He was responding to a remark by MP […]

Peak Gold – Biggest Gold Story Not Being Reported

Peak Gold – Biggest Gold Story Not Being Reported thumbnail

– Peak gold – Biggest gold story not being reported – Gold ‘Mining Zombie Apocalypse’ caused miners to slash exploration budgets – Decline in gold production at world’s top 10 gold mining companies – Byron King – “No new big mines being built in the world today” – Glencore CEO Glasenberg – Primary global gold output declined […]

Thousands of underground gas bulges, formed by thawing permafrost, set to ‘explode’ in Siberia

Thousands of underground gas bulges, formed by thawing permafrost, set to ‘explode’ in Siberia thumbnail

Local Siberian media has reported that the very ground that people stand on is moving under their feet in the arctic regions of Siberia. Scientists have discovered 7000 gas filled bubbles according to the Siberian Times.  These, bulges or ‘bulgunyakh’ in the local Yakut language, were originally discovered last year by researchers in Siberia’s remote Bely Island. At that time only 15 […]

There’s a lot more oil to keep in the ground all of a sudden

There’s a lot more oil to keep in the ground all of a sudden thumbnail

Spanish oil company Repsol just announced that it has made the largest onshore oil discovery in the United States in 30 years: a find of 1.2 billion barrels beneath Alaska’s North Slope. “Keep it in the ground” has become a rallying cry for climate and environmental activists in recent years, and they’re particularly intent on stopping Arctic […]

An Oil Legend’s Biggest Hunt Ever: 10 Billion Barrels in Alaska


It’s hard to tell where the world ends here on the Alaska North Slope. In the subzero twilight, when the Arctic winds snarl, snow and cloud stretch to every horizon in a seamless vault of spectral white. Beyond the tundra, five miles out on the frozen sea, oil workers from a tiny outfit called Caelus […]

Thermodynamic model of oil depletion sparks controversy

Thermodynamic model of oil depletion sparks controversy thumbnail

This is a post by François-Xavier Chevallerau, a Brussels-based public policy professional who is in the process of setting up a new international think tank to support the emergence and promotion of biophysical economics in the public debate and the policy conversation. Here, he comments on the “Hill’s Report” that was also discussed in a […]

Did This Geologist Just Pinpoint This Decade’s Biggest Natural Gas Discovery?

Did This Geologist Just Pinpoint This Decade’s Biggest Natural Gas Discovery? thumbnail

Nearly a decade ago, I got interested in finding oil and gas fields from space. That odd-sounding strategy came to me while I was living in Canada’s petro-center, Calgary. And met a group of explorationists working with PhD experts in satellite imaging.   Skitterphoto / Pixabay I was fascinated when this team explained how they […]

Oklahoma’s earthquake rate slows, but Cushing oil hub remains in danger zone


The good news for Oklahoma is that the number of earthquakes stronger than magnitude 2.7 that hit the state last year fell by more than a third to 2,500, compared with 4,000 in 2015. The bad news is the 2016 total is still astronomical compared to the two earthquakes the state experienced annually between 1980 […]

No Peak Oil For America Or The World

No Peak Oil For America Or The World thumbnail

Oil is more plentiful than you can imagine. And we keep figuring out easier and more economical ways to get it out of the ground. In 1938, the famous geologist M. King Hubbert came up with the concept of peak oil, which is defined as having extracted half of the recoverable, conventional oil reserves. After […]

Powerful 5.6 earthquake rocks Fukushima


More bad news for the beleaguered Japanese prefecture of Fukushima, as a powerful earthquake shook cities and halted train services. No damage or injuries were reported in the second major earthquake since November 2016, APA reports quoting Sputnik.   The undersea earthquake, 21 miles from the nearest settlement and striking at a depth of 26 […]

Iraq Plans Offshore Oil and Gas Exploration to Boost Reserves


Iraq is planning to start offshore oil and gas exploration to boost the OPEC nation’s reserves, Oil Minister Jabar al-Luaibi said in a statement on Monday. Luaibi said he “gave guidance to the Oil Exploration Company about the importance of exploring territorial waters to assess the hydrocarbons reserves and to boost Iraq’s capacity”. Iraq last […]

Should we mine the deep ocean?

Should we mine the deep ocean? thumbnail

You’ve probably heard of peak oil—the point at which oil production reaches its maximum and begins to decline—but what about peak copper? Copper helps send the electrical signals that make modern electronics like cellphones and tablets work. But there’s growing concern that the prevalence of key minerals like copper is on the decline. In 2016 […]

Iraq’s Oil Reserves Increase To 153 Bln Barrels, Oil Minister Says


Iraq’s oil reserves have increased to 153 billion barrels, from a previous estimate of 143 billion barrels, Oil Minister Jabar al-Luaibi said on Sunday. Iraq will ask the Organization of the Petroleum Exporting Countries to adopt the new figure as the official estimate for its reserves, he said in a statement. The increased estimate is the result of appraisals […]

Hydrocarbons depletion inescapable reality

Hydrocarbons depletion inescapable reality thumbnail

Hydrocarbons are a depleting resource and this is an “inescapable” reality, said HE Abdullah bin Hamad al-Attiyah, former Deputy Prime Minister and Minister of Energy and Industry. He was delivering the closing address at ‘The energy and economic diversification policies’ roundtable organised by Qatar Leadership Centre (QLC) and Rice University’s Baker Institute in cooperation with […]

Oil and gas discoveries dry up to lowest total for 60 years


Discoveries of new oil and gasfields have dropped to a fresh 60-year low, as companies put a brake on exploration and large fields have become harder to find. There were only 174 oil and gas discoveries worldwide last year, compared to an average of 400-500 per year up until 2013, according to IHS Markit, the […]

Iran Reports 15 Billion Barrel Oil Find


Iran has struck new crude oil reserves totaling 15 billion barrels of which 2 billion barrels are recoverable, according to the managing director of the National Iranian Oil Company Ali Kardor. Along with the crude, there were 1.8 trillion cu m of natural gas in the new deposits, details of whose location were not divulged. […]

Peak Oil, fudged figures and the Saudi audit


Hardly a decade ago, Peak Oil debate was holding the global centre-stage. Pundits were concerned. Questions were being raised, about the world’s largest oil field, Ghawar and its capacity and potential to keep on producing crude at the current levels. Measuring 280 by 30 km (174 by 19 miles), Ghawar has been producing crude for […]

Peak Uranium by Ugo Bardi from Extracted: How the Quest for Mineral Wealth Is Plundering the Planet

Peak Uranium by Ugo Bardi from Extracted: How the Quest for Mineral Wealth Is Plundering the Planet thumbnail

Figure 1. cumulative uranium consumption by IPCC model 2015-2100 versus measured and inferred Uranium resources [ Figure 1 shows that the next IPCC report counts very much on nuclear power to keep warming below 2.5 C.  The black line represents how many million tonnes of reasonably and inferred resources under $260 per kg remain (2016 […]

How I came to Realize I was Wrong About Peak Oil – F. William Engdahl

How I came to Realize I was Wrong About Peak Oil – F. William Engdahl thumbnail

Dr. Richard Presser recently shared a newsletter on his blog from William Engdahl which for some may provide ground-breaking information about oil and gas. I heard some time ago that there is nothing “fossily” about fossil fuels and this research supports that. It was just more “junk science”. It’s the old “rare and costly” scheme […]

Saudi Aramco’s oil reserves confirmed by external audit

Saudi Aramco’s oil reserves confirmed by external audit thumbnail

The first independent audit of Saudi Aramco’s [IPO-ARMO.SE] oil reserves has confirmed the state oil company’s own figures, sources familiar with the situation said, ahead of its planned share market listing next year. The listing, expected to be the world’s biggest initial public offering (IPO), is a centrepiece of a Saudi Arabian government plan to […]

ExxonMobil Strikes More Oil Offshore Guyana

ExxonMobil Strikes More Oil Offshore Guyana thumbnail

Exxon Mobil Corp. reported Thursday it had further established offshore Guyana as a significant exploration province with a new oil discovery and successful appraisal drilling at its Liza field. The Payara-1 discovery encountered over 95 feet (29 meter) of high-quality, oil-bearing sandstone reservoirs. Payara-1 was drilled in a new reservoir and marks the second oil […]

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