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  2. Oil held gains near the highest since 2018 amid a global energy crunch that’s set to increase demand for crude, while stockpiles are falling from the U.S. to China. View the full article
  3. The free ride for methane, a climate-warming gas 84 times stronger than carbon dioxide, is nearing an end in Washington. View the full article
  4. Interior Secretary Deb Haaland suggested a sharply limited role for fossil fuel extraction on U.S. federal lands and waters in her most expansive comments yet on the administration’s overhaul of oil and gas leasing. View the full article
  5. Today
  6. The Green Dream transition has already foundered on the hard rocks of reality, causing a self-inflicted energy crisis in Europe which may well replicate in America. Bottom line is that fossil fuels are here to stay, as in permanent. https://oilprice.com/Energy/Energy-General/Baker-Hughes-CEO-Warns-Of-Three-Hard-Truths-About-The-Energy-Transition.html "Fossil fuels are here to stay. This is the message one oilfield major CEO had for those watching the surge of gas prices in Europe, some with trepidation, others with fascination. They are here to stay because they help ensure a country's energy security. "We think there's three hard truths," Simonelli told CNBC in an interview this week. "Firstly, we've got to work together, accelerate the move towards decarbonization and also eliminating emissions. Secondly, hydrocarbons are here to stay … and natural gas, in fact, is a key element. And thirdly, we've got to do it together, collaborate and actually adopt the new technologies that are available." Some would say the current energy crisis in Europe is sufficient proof that there is something not quite right with the way the EU and the UK approached the energy transition. OPEC's secretary-general Mohamed Barkindo, for instance, told CNBC there was a new premium emerging in energy markets that he called "the transition premium." What this means is, essentially, that the energy transition is making energy more expensive despite promises for affordability."
  7. They will bail out the bonds or mortgage nominal in China Yuan for sure.??? When will this happen??? after a crash in China in the broader markets???. To date the Chinese authorities have not put forward any plans. My bet is they are incapable of acting right now. China property/real estate has been a giant pyramid scheme for years.... note the following article written over 2 years ago . The reality is 30 percent of Chinas economy revolves around the construction business and when you can not sell or rent what you built and the value goes down on existing property which it is now doing in China you will have a crash. A crash will also lead to more pain for those not involved with construction. A bailout??? Trillions of dollars or 10s of trillions in Yuan might solve the problem. Once again Chinese authorities have not put forward any plans as the problem in Gigantic. China Has 65 Million Empty Apartments Douglas A. McIntyre January 8, 2019 6:51 am Last Updated: January 11, 2020 12:52 pm The estimates of the number of empty apartments in China are well into the tens of millions, with variations in the number based on different methods. The latest estimate is 65 million, which is more than 20% of all residences in Chinese cities. The new number is from Ian Bremmer, head of Eurasian Group, which released its widely followed report on top risks for 2019 earlier this week. Experts have given two other figures for the number of vacant apartments in China’s cities recently. ABC, a distributor of news from sources that include Reuters, CNN and the BBC, put the number at 64 million earlier this year. Professor Gan Li of Chengdu’s Southwestern University of Finance and Economics, who posts an annual number based on China’s own data, puts the figure at 50 million, something less than 20%. By contrast, the Housing Vacancies and Homeownership annual study puts the U.S. number just above 7%. These vacancy rates are not only in parts of China’s occupied cities. The government has built huge metropolitan areas that have no residents at all. The BBC labeled these “ghost cities,” built around “zombie factories” that have never been open. China’s search engine company, Baidu, did its own research and found cities and regions that were largely unoccupied or where less than 10% of the available apartments were occupied. These included Kangbashi, Suzhou City in Changshu, Erdos City in Dongsheng and Tongliao City in Horqin, the BBC added. Why do these ghost cities exist, and why are occupancy rates in some cities so low? According to experts who follow the problem, there are two causes, which are related. One is that China’s factory and infrastructure planners forecast that regions or cities would be good locations for major manufacturing hubs. As the cities were built, either the manufacturing moved elsewhere or the need for the factories never materialized. Alternatively, the factories were opened, but logistics were such that other factories had better locations. Workers got jobs and moved into apartments, but the success was temporary. When asked what the solution to the problem is, most experts have the same answer. The trouble is so massive that there isn’t one, or at least not one that will come close to alleviating the problem. G
  8. What no finding of Bamboo shoots? my my what Will Trump use to grift more money from his low IQ cult?
  9. Ha Ha, speaking of black, the local Aboriginals will be most grateful for the employment opportunities involved mainly in keeping the glass clean. We have a lot of "black tape" here, especially in Western Australia, so I suspect the hydrogen plant there may not have got full approval on this basis. Perhaps due to lack of sufficient Australian control/participation in the financing and ownership, not sure. Then there is the problem with the Ammonia competing with Aussie LNG and coal which is what Jay is hinting at. As I say, not sure as to the motivation behind the decision, especially when our PM is touting the H2 industry. I certainly don't believe our govt wants to give control of vast tracts of land to foreign companies, has already become a hot political potato regarding foreign ownership of cattle stations. That is my best guess, lack of majority Aussie ownership causing a political problem.
  10. If the LNG tankers can continue to make it to US ports we will have about 3X the LNG available as last year. due to 5 or 6 new trains coming on line. Long voyage but Australia/New Guinea has excess gas and Europe can play that card against Russia.
  11. Yesterday
  12. Xi seems to have total control in China through the CCP. On the other hand, he is rapidly trying to totally change a very huge country with a billion people. That is a lot of inertia. The Chinese people do have a mind of their own. The CCP is not a homogeneous group but it must appear to follow the party line or risk being targeted, kicked out of the party, eliminated, or imprisoned. The many billionaires and millionaires are not powerless until individually made so, creating more enemies. By toppling the status quo Xi is in danger of being toppled himself or toppling China economically. His tactics, including COVID, have created an anti-Chinese world. Xi has now stated that he will turn the economy inward and help the poor majority with a Robin Hood approach. My guess is that the wealthy and middle class are not able or totally in line with that goal. Xi could start a small or large war to strengthen his control but could also be overthrown in that situation. We live in "interesting times."
  13. Almost four weeks after Hurricane Ida hit Louisiana, Gulf of Mexico oil producers are far from calling it over. View the full article
  14. Saudi Arabia is considering acquiring Iron Dome missile defense (BMD) systems produced by the Israeli company Rafael and Barak ER manufactured by Israel Aerospace Industries.
  15. The Noia Oil and Gas Conference 2021 concluded after two highly successful days discussing the recent challenges faced but with a keen focus on creating a successful future for the Newfoundland and Labrador offshore oil and gas industry. View the full article
  16. The European Energy Crisis Is About To Go Global By Irina Slav - Sep 22, 2021, 7:00 PM CDT https://oilprice.com/Energy/Energy-General/The-European-Energy-Crisis-Is-About-To-Go-Global.html
  17. AVEVA, says 85% of industrial businesses plan to increase their investment in digital transformation over the next three years in order to tackle climate change, embrace automation and unlock the performance benefits of advanced technologies. View the full article
  18. The Arctic LNG 2 is located in Gydan, Northern Russia and is one of the world largest LNG projects under construction today with a total capacity of 3 x 6.6 million tons per annum. View the full article
  19. The competition, managed by the Oil and Gas Authority, is designed to advance the widespread electrification of offshore installations on the UK Continental Shelf, which are powered by gas or diesel. View the full article
  20. CEO

    Does anyone have any take on the E& P summit from the last 2 Days in London
  21. This article contains still images from the interactive dashboards available in the original blog post. To follow the instructions in this article, please use the interactive dashboards. Furthermore, they allow you to uncover other insights as well. Visit ShaleProfile blog to explore the full interactive dashboard This interactive presentation contains the latest oil & gas production data from all 25,879 horizontal wells in the Eagle Ford region, that have started producing from 2008 onward, through June. Total production Tight oil production in the Eagle Ford was flat for the 3rd consecutive month in June, at 1.1 million b/d (Hz. wells only, after upcoming revisions). The first time the Eagle Ford produced at this level was 8 years earlier, when WTI was almost at $100/bbl. Natural gas production fell in June to about 5.6 Bcf/d. Supply projection The number of horizontal rigs in the Eagle Ford has remained at 40 during the past month (according to Baker Hughes). Only 3 of those rigs are drilling in Karnes County, the lowest number in more than a decade, and down from 10 earlier this year. This county is still responsible for 30% of the oil produced in the Eagle Ford. Our Supply Projection dashboard shows what would happen if the rig count would remain at 3 in Karnes: The horizontal rig count & tight oil outlook in Karnes County, based on current drilling activity & well productivity, by year of first production As the bottom graph here shows, 3 rigs would only be able to sustain a long-term output of not much more than 100 thousand b/d, given current well & rig productivity, compared with 300 thousand b/d currently. Well performance Can poorer well results explain the reduced interest in Karnes? From our Production Profiles dashboard: Well productivity (oil rate vs. cum.) in Karnes, by vintage year of first production. Horizontal oil wells only (refrac’s excluded). The chart on the right shows that average well productivity has fallen since 2017. All vintages are trending towards an EUR of less than 300 thousand barrels of oil, before hitting a production rate of 10 b/d. On the map the well locations of all the included wells are visible, and colored by operator. The well performance picture becomes worse after we normalize for lateral length: Well productivity in Karnes, normalized for lateral length. Horizontal oil wells only (excl. refracs). This chart shows how average performance, as measured by the cumulative oil recovered in the first year on production, normalized for lateral length, has evolved over time. The wells that were completed in 2020, and have produced for at least a year, recovered only 22.3 thousand barrels of oil, per 1,000′ of lateral length. Analyzing the data in more detail doesn’t indicate that the abnormal shut-ins during the last 1.5 years were responsible for this deterioration. Top operators The output and well locations of the 10 largest operators in the basin are displayed in the final tab. ConocoPhillips and Marathon were both producing at a 1-year high in June. Devon Energy’s production is down by over 75% since the start of 2016. Finally Our next post will be on Pennsylvania, which released July production data a while back. The other 2 states in Appalachia recently reported Q2 production data, which is available in our subscription services. Production and completion data is subject to revisions, especially for the last few months. Sources For this presentation, I used data gathered from the following sources: Texas RRC. Production data is provided on lease level. Individual well production data is estimated from a range of data sources, including regular well tests, and pending lease reports. FracFocus.org Visit our blog to read the full post and use the interactive dashboards to gain more insight: https://bit.ly/3nXy8ze Follow us on Social Media: Twitter: @ShaleProfile LinkedIn: ShaleProfile Facebook: ShaleProfile
  22. Europe’s worst energy crisis in decades could drag deep into the cold months as Russia is unlikely to boost shipments until at least November. View the full article
  23. Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as $100 per million British thermal units in the event of a particularly cold winter. View the full article
  24. Syncrude Canada Ltd., a light crude producer majority-owned by Suncor Energy Inc., cut September supplies due to a mechanical disruption at its oil sands site, according to a person familiar with the situation. View the full article
  25. ChampionX will deliver its range of chemical management services to Vår Energi, which encompasses the deployment of its asset integrity, phase separation, flow assurance and enhanced oil recovery chemical technologies. View the full article
  26. Why hydro This chart's 'y' axis... ...per KWH? Yes that's energy...but it's hard to wrap my mind around something... Hydro really releases that much CO2 per KWH generated over some life cycle?? If it is supposed to be "capital impacts", then the correct unit should be KW. If you wish to use KWH, you must include the impact of any fuel consumed. And any fuel consumed to "fabricate" and deliver that fuel. It would be of interest to see FF generation on the same chart. The USA's total generation average is WELL ABOVE 500 grams/KWH (on top of the capital impacts). Also, does hydro's concrete/cement portion include the dam? While hydro does need lots of concrete, I can guarantee you there is MUCH more concrete (and rebar out the wazzo) per KW in a modern nuc plant if you exclude the dam from hydro. A dam is used to control water for many other important purposes, power generation is a side benefit. There's some argument to be made that FF is really "biomass", just "well aged" biomass.
  27. Last week
  28. Gulf Energy Information (GEI) and its World Oil subsidiary regret to report to our global subscribers/readers that our retired Chairman and President, Robert W. (Bob) Scott passed away on Wednesday morning in Houston at age 93. View the full article
  29. Introduction: Full reportL https://www.oxfordenergy.org/publications/big-bounce-russian-gas-amid-market-tightness/ Current gas situation: I find it some what ironic that the EU and the US state that “the Russians may be trying to squeeze the continent even after never ending story that Europa really doesnt need russian gas anymore. There was talk for years that Russia sends way too much gas to Europe. Now its said it sells way too little despite selling something like only 2 % less than in record breaking 2018. Isn’t this strategy made in the “capitalist” way? Didn’t the electrical companies “squeeze” Texans during last winters ice storm? Spot market pricing for electricity? The “Russians” have “learned” the Western ways. Let's hope Russians learned also not to oversqueeze. Better hurry up and certify Nordstream 2 then. And if someone wants even more gas in the future more long-term contracts must be concluded that guarantee costly and long-term investments. This, in my opinion, is what this report says.
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