Exploration
The Domestic Crude Oil Revolution - The bottom is falling out of Crude Oil Prices
The bottom is falling out of the price of crude oil, Nancy Pelosi and the Democrats are caving to the public’s demand for more drilling and now, finally, we’re seeing a revolution in domestic oil production with even more fallout in crude oil prices on the way.
In a recent appearance on The Daily Show, House [...]
Oil Bounties of the Deep
A multinational consortium has struck oil in ultra-deep waters in the Gulf of Mexico.The companies said an exploration well called Stones #3 had hit reservoirs of natural gas and oil in 7,500 feet of water and at a total depth of 29,400 feet. The well was drilled by Royal Dutch Shell, which holds a 35% stake [...]
Brazil oil field could contain 33 billion barrels. Find would become worlds 3rd largest known reserve.
SAO PAULO, Brazil - A deep-water exploration area could contain as much as 33 billion barrels of oil, an amount that would nearly triple Brazil’s reserves and make the offshore bloc the world’s third-largest known oil reserve, a top energy official said Monday.
National Petroleum Agency President Haroldo Lima cautioned that his information on the field [...]
Oil fields of plenty?
Despite making £93m a day, Royal Dutch Shell has not impressed the markets, concerned by resource nationalism and rising extraction costs.
If understatement were an art, Jeroen van der Veer would be given a seat among the masters. In unveiling the largest-ever annual profit for a UK or Dutch company yesterday, the chief executive of Royal [...]
Suit Seeks to Block Oil Search Off Alaska
A coalition of environmental organizations and Inupiaq native groups filed suit in federal court in Anchorage on Thursday to force the Interior Department to do a new analysis of the environmental consequences of oil and gas exploration in the Chukchi Sea, off northwestern Alaska.
The plaintiffs hope to stop plans to develop 29 million acres, which [...]
Canada’s Suncor plans C$20 bln oil sands expansion
Suncor Energy, Inc. said on Wednesday it will spend C$20.6 billion ($20.8 billion) on an expansion scheme that will make it the biggest producer in the oil sands of northern Alberta.
Suncor’s board of directors gave the go-ahead for the Voyageur project, a 200,000 barrel-a-day expansion of the company’s already massive oil sands operations near Fort [...]
Not “Peak Oil” but Lots More Oil
There was an interesting news item out of Moscow in late September, to which most people probably paid little heed. “Russia is one of several countries that have rushed to lay claims to the area where a U.S. Study suggests as much as 25 percent of the world’s undiscovered oil and gas could be hidden.”
Earlier, [...]
