Fossil fuels: oil, gas, coal, nuclear (fission and fusion)Oil: when there are more, there are still

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Christophe
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Unread Messageby Christophe » 24/08/15, 16:38

Yes well they need to discover large deposits because oil is again under the 40 dollars: https://www.econologie.com/forums/le-petrole ... 14195.html

.

:|

Hopefully it does not last ... : Mrgreen:
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Re: Oil: when there are more, there are still

Unread Messageby moinsdewatt » 12/03/16, 13:57

Total will begin mid-March to look for oil in Uruguay

AFP March 11 2016

French oil giant Total said on Friday it would begin mid-March to dig exploratory wells off the coast of Uruguay, hoping to find oil in this country is the only South American to have to import all its crude.

"Total confirms having started yesterday, Thursday March 10, preparatory operations for digging the Raya-1 14 wells in the block of the Uruguayan maritime platform," the group said in a statement.

Work will be performed from the Maersk vessel Venturer.

"Subcontractors believe that drilling will begin in mid-March," the statement said, adding that the 14 block of about 7.000 square kilometers, is located in 250 kilometers from the coast of Uruguay.

Total holds a 65% in the consortium for the exploration, the American ExxonMobil has the remaining 35%.

Other groups, such as the Australian Petrel Energy, owner of 51% Schuepbach Energy International (SEI), also plan to drill off the coast of Uruguay, after the discovery of potential deposits in recent years.

Although Uruguay is far from the first drop of black gold, the prospect of finding generates excitement in this small country of 3,3 million people, unlike its two giant neighbors, the Argentina and Brazil, has always suffered from a total oil dependence vis-à-vis the outside, although it has strongly developed wind energy in parallel.

http://www.connaissancedesenergies.org/ ... uay-160311
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Re: Oil: when there are more, there are still

Unread Messageby moinsdewatt » 03/04/16, 13:36

Always further :

Uruguay: Total and ExxonMobil begin the drilling of subsea oil wells the deepest in the world

03 / 04 / 2016 MONTEVIDEO

The oil giant Total (France) and ExxonMobil (USA) started Wednesday, well drilling exploratory submarine off the coast of Uruguay will be the deepest in the world, announced the Ministry of Industry.

The goal "is located in deep water, in 250 kilometers from the Uruguayan coast, and has technological, operational and logistical challenges related to extreme conditions at the depth of over 3.400 meters below sea level, which exceeds the current World Record "Said the ministry in a statement.

The perforation work, carried out from the ship Maersk Venturer will last a hundred days.

The 14 block the Uruguayan maritime platform, which will be dug the well, is of about 7.000 square kilometers.

Total holds a 65% in the consortium for the exploration, the American ExxonMobil has the remaining 35%.

Other groups, such as the Australian Petrel Energy, owner of 51% Schuepbach Energy International (SEI), also plan to drill off the coast of Uruguay, after the discovery of potential deposits in recent years.

Although Uruguay is far from the first drop of black gold, the prospect of finding generates excitement in this small country of 3,3 million.

Unlike its two giant neighbors, Argentina and Brazil, Uruguay has always suffered from a total oil dependence vis-à-vis the outside, although it has strongly developed wind energy in parallel.

https://www.zonebourse.com/TOTAL-4717/a ... -22112740/
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Unread Messageby moinsdewatt » 28/05/16, 12:12

Russia launched a major oil terminal for the exploitation of the Arctic

AFP 25 May 2016

Russian President Vladimir Putin on Wednesday inaugurated an oil terminal on the Yamal Peninsula in the Arctic, able to operate year round in extreme conditions and to be an essential step in exploiting the vast resources of this region.


By videoconference from the Kremlin, Putin ordered the loading of the first cargo terminal "Artiki Vorota" (Arctic Doors), with Novoportovskoïé oil field, operated by Gazprom Neft, the oil arm of energy giant Gazprom. "Today marks a new stage in the operation of Novoportovskoïé deposit is a significant event, important," he said, quoted by Russian news agencies.

"This project is one of the most expensive of the oil industry in Russia. In three years 186 billion rubles have been directed to this project" or 2,5 billion at current exchange rates, -t he said. The Novoportovskoïé deposit is considered one of the richest in the Yamal peninsula, with estimated reserves of 250 million tons of oil and more than 320 billion gas m3.

Far from the pipeline network, it requires transportation by ship oil via a port that was already operating in the summer since 2014 but the new terminal inaugurated Wednesday can now loads all year round in extreme climate conditions. The capacity of this terminal, connected to the reservoir by a pipeline 100 kilometers, is expected to 8,5 million tonnes per year.

Its construction required "use of the latest technologies" that make a "unique building" able to work "in extreme natural and climatic conditions" with temperatures of - 50 degrees Celsius and a layer of ice exceeding two meters, Gazprom said in a statement. "This is an important step for the development of the Arctic and Subarctic oil sector," said Valery Nesterov, bank Sberbank CIB analyst told AFP, speaking of a "unique experience".

Russia already produces hydrocarbons in the Arctic Circle but it seeks to go further in the exploitation of these resources, by getting them to areas increasingly isolated as the Yamal Peninsula. On the same stretch of land, the Russian gas company Novatek, with French partners (Total) and Chinese, is preparing a mega project of liquefied natural gas, estimated at 27 billion, to be inaugurated next year.

http://www.connaissancedesenergies.org/ ... que-160525
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Re: Oil: when there are more, there are still

Unread Messageby Christophe » 28/05/16, 16:11

Awesome ... it is not in the climate mouise ... climate-change-co2 / 10-years-to-save-the-climate-t2860.html

With 27 billion France could go independent oil energetically developing micro algae ...
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Unread Messageby moinsdewatt » 29/05/16, 21:03

Oil discoveries have not been as low since 1952 ...

ANNE FEITZ Les Echos the 26 / 05 / 2016

Last year, oil and gas companies have found that the equivalent of only one month of consumption of the planet.

Conventional discoveries of oil and gas fell to the lowest since 1952. According to a new analysis published this week by the IHS office, oil companies have found 12 billion barrels of oil equivalent of recoverable reserves last year.


A figure down 20% over 15 billion barrels discovered in 2014, according to Wood Mackenzie - and far from the 47 2010 billion. "This is hardly the equivalent of a month of world consumption," comment the analysts at Morgan Stanley. However, these figures only conventional hydrocarbons, thus excluding oil and US shale gas.

An Industry in Crisis

They are nonetheless symptomatic of the crisis facing the industry. Falling oil prices, which prices fell 60% since mid-June 2014 has led companies to cut their investment, including exploration. "This is traditionally the first expenses to be cut," says Geoffroy Hureau, IFP IN. According to the French Institute, exploration investments worldwide, which had increased from 50 100 billion to between 2010 and 2013, fell to 82 2015 billion. And budgets are expected to fall this year. But any activity has not stopped. At Total, for example, 1,5 billion dollars are still spent on drilling exploration wells. As prices of petroleum services fell sharply for two years, such a budget allows drilling "almost as well as before", says an expert. According to IHS, the number of conventional wells drilled in 2015, outside of North America, fell in 4.300 2015, 5.200 against in 2014.

giant gas field off Egypt

The low volumes discovered also reflect increasing difficulties to find new deposits, as the most easily accessible fields have already been found. In 2015, only discovered by ENI of a giant gas field off Egypt marked the spirits, with estimated reserves of 5,1 billion barrels. Other, smaller, have involved gas deposits in Mauritania, Tanzania or Congo, or oil in China, the Gulf of Mexico or in Guyana. In 2016, only a few discoveries were announced, off Burma and Angola for example. "We'll see how costs these deposits can be developed," says Geoffroy Hureau. According to IHS, exploration activity was particularly weak in the ultra deep offshore, with a lower number of wells in 40 2015%.

"This decline in volumes discovered will create a hole in the portfolios of companies and ultimately have a negative impact on production," notes Leta Smith, at IHS. And, "more likely in 5 10 to years, type delay between the discovery and first production," she says. A "hole" which, according to IHS, will not be compensated by the American oil shale; it will remain between 10 and 15% of the total oil production in 2040. "The market will still need conventional oil," says IHS.

Image


http://www.lesechos.fr/industrie-servic ... 001457.php
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Re: Oil: when there are more, there are still

Unread Messageby Christophe » 14/06/16, 12:12

All this does not make sense with the current price of a barrel ...

But if there was logic in Finance, it is not ...
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Re: Oil: when there are more, there are still

Unread Messageby dirk pitt » 14/06/16, 13:11

Christophe wrote:All this does not make sense with the current price of a barrel ...
..


what do you mean?
deposits of decreasing findings are logical, but on the contrary not only due to declining investment.
physics and geology are stubborn and well recess was discovered most of what there was to discover.
it is now forced to spend much money and energy to find a few crumbs.
it will not have to surprise us.
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Re: Oil: when there are more, there are still

Unread Messageby Christophe » 14/06/16, 13:21

I just want to say that in the absence of beautiful discoveries of oil, the current price of oil should go up ... and fast ...
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Re: Oil: when there are more, there are still

Unread Messageby dirk pitt » 14/06/16, 14:05

Yes and no because the price also depends on the demand that is low enough for now.
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