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

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Remundo
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Re: Oil: when there are more, there are still

Unread Messageby Remundo » 04/02/18, 12:07

there will always be some ...

the question is elsewhere: when you consume 100 million barrels a day, how long does it last?

currently, the "major" discoveries are of the order of one billion barrels, ie 10 days of global supply. You will have noticed that this kind of ads does not take place every 10 days ...

we have never had so few prospecting discoveries, in the order of 7 billion barrels a year. So for 365 days, we only find 70 days of conso ...

And in addition EROEI are down, which means that the oil actually available at the end of the chain is even rarer.
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Re: Oil: when there are more, there are still

Unread Messageby moinsdewatt » 18/03/18, 13:56

US oil storms the global market

By AFP, published the 18 / 03 / 2018

Thanks to a booming oil production, the United States is now exporting its black gold unabated to the world, resulting in an overhaul of infrastructure on their territory and rebapping the cards in the global market.
Currently pumping more than 10 million barrels a day, the country has become the world's second largest producer of crude oil, behind Russia and ahead of Saudi Arabia. A boom related to new techniques to extract cheaply shale oil.

Faced with this explosion, the United States raised the end 2015 the ban on exporting crude oil from 1975. An opportunity seized immediately by American companies: in 2017, they exported on average 1,1 million barrels per day in 37 countries.

While Canada remains the top destination, the United States has nibbled market share in Asia, a region traditionally considered the pre-square of the Organization of Petroleum Exporting Countries (OPEC) or Russia, which voluntarily decided last year to limit their production to adjust prices.

China became their second customer.


Imports at the same time fell sharply, falling in 10 from 10 to 8 million barrels a day.

But even if US production continues to fly, the country will not stop buying foreign crude anytime soon.

The vast majority of American refineries are not designed to transform shale oil, which is considered light.

They were built to refine the heavy oil from, for example, Canada, Venezuela or Mexico, which they buy cheaply, and resell with a large margin.

"Since it takes five to seven years to build a refinery, you can not change overnight," said Harry Tchilinguirian, oil markets specialist at BNP Paribas.

Moreover, he recalls, American companies thought, until the shale fled to 2010, that the oil would come mainly from Canada's oil sands and began the construction of oil pipelines between the two countries. "To make new investments, they must be sure that their choice will always be good in seven years."

Why also increase the refining capacity in the United States, where the demand for energy will probably be compressed in the coming years?

- Golden age -

"The United States can not become completely independent of foreign oil," says Tchilinguirian. "Donald Trump's idea of ​​a + golden age of American energy is not just about becoming less dependent, it's also about pushing the energy industry to look to the world. foreign, "he adds.

US companies are building all the oil pipelines and terminals to send the world the American black gold.

The most emblematic project is the current one at the Louisiana Offshore Port (Loop), the only terminal in the United States capable of handling these super cargo ships carrying up to 2 million barrels. It was used for the first time in February to export, not import, crude.

Further west, on the Gulf Coast, the port of Corpus Christi plans to dredge its funds to accommodate larger vessels.

According to several estimates, the United States could theoretically be able in the medium term to export 4 at 5 million barrels per day.

The question is then which markets can absorb all this crude.

For John Coleman of Wood Mackenzie, Europe is the most logical destination, at least to 2022. "European refineries are more compatible with US light crude and transportation costs are lower."

However, the demand may also dry up in the coming years.

The United States, if it manages to keep the price competitive enough to offset the extra time and cost of transportation, could turn to Asia.

Especially since West Africa and the Middle East countries should build more refineries on their own territory and thus limit their own exports.

But, says Coleman, "the question of oil infrastructure in the United States is still unresolved, it is the subject of the moment.Although many investments have been announced, it will probably take more."


https://www.lexpress.fr/actualites/1/mo ... 93244.html
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dirk pitt
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Re: Oil: when there are more, there are still

Unread Messageby dirk pitt » 19/03/18, 16:25

as reported by Remundo, the 2017 covers broke a record. never have we discovered so much oil on 1 year. some will say that it is because we do not look for much because the price is low.

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Re: Oil: when there are more, there are still

Unread Messageby nico239 » 20/03/18, 01:07

Are we (we = the earth) behind the end of the oil ... I mean late to replace all that can be done with oil now ...

There is the material end of oil: no more a drop anywhere

Masi the end of an economically viable oil is for when by the way?

Because if the barrel goes up to 2? 300 $ is sure we can say that there will never end oil but economically it will not be viable so it's a bit the same at least for the daily

Diamonds have been full for centuries but ... at what price ...

The question can be summarized as follows: to what amount is a full tank of gas tolerable? Viable? 100 € 200 € 300 €?
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dede2002
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Re: Oil: when there are more, there are still

Unread Messageby dede2002 » 20/03/18, 03:16

nico239 wrote:.

The question can be summarized as follows: to what amount is a full tank of gas tolerable? Viable? 100 € 200 € 300 €?


Hello,

In some countries, the full tank is worth more than a month's salary, and there are still traffic jams ...
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Re: Oil: when there are more, there are still

Unread Messageby dirk pitt » 20/03/18, 10:11

the problem is the volume available. the price is not directly correlated except for the short term.
we do not go from an available volume equal to what we consumed the day before at ZERO the next day.
it is the deceptive effect of the ratio R / P (reserves / current conso) which can be wrongly interpreted as X years of reservation.
the reserve decreases gradually. for example the North Sea which has passed its peak offers a production down by about 8% per year.
scarcity can lead to high prices in the short term, which in turn leads to recessions that lower the price, etc.
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Re: Oil: when there are more, there are still

Unread Messageby moinsdewatt » 26/08/18, 14:39

Oil discoveries fall

By Armelle Bohineust Posted on 11 / 07 / 2018

The decline is mainly due to the fall in investments of oil companies.


Hydrocarbon discoveries are at their lowest for almost thirty years. Only 11 billion barrels of oil equivalent were discovered in 2017, 13% less than the previous year, says the French Institute of Oil Energies nouvelles (IFPEN), reported by the newspaper Les Echos. Outside North America, where shale oil has been expanding for a few years, the number of conventional hydrocarbon discoveries is "at its lowest level since the 1950 years", says the American site Energy and Energy. Capital.

This decline is mainly due to the fall in investments of oil companies, down from 50% to 60% for three years. After the collapse of oil prices in 2014, most of them have cut into their exploration and production expenses. Since then, and they are far from having them all revised upward. Some prefer to buy competitors rather than invest in exploration, too uncertain. Especially since "the areas explored are becoming deeper and more geologically complex," explains IFPEN. And that discoveries are getting smaller and smaller.


http://www.lefigaro.fr/conjoncture/2018 ... hutent.php
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Re: Oil: when there are more, there are still

Unread Messageby moinsdewatt » 27/10/18, 09:54

Guyana: Total authorized to conduct an oil exploration campaign

AFP 24 October 2018

The group "Total has just obtained the prefectural order allowing him to begin his explorations in the territorial waters of Guyana," said Tuesday in a statement the territorial collectivity of Guyana (CTG).

"The decree was taken and notified to Total", confirmed to AFP the general direction of the services of the CTG, merger since December 2015 of the region and the department.

The head of external relations at Total Exploration & Production French Guiana, the company requesting the opening of the mining works, confirmed the signing of this order to the local information site Guyaweb and added that the prefect's decree would make the subject of a publication these days.

Contacted Tuesday late afternoon by AFP, the prefecture of Guyana has not responded.

According to its request, the company Total Exploration & Production French Guiana SAS initially aims to drill an exploration well in the central part of the French Guiana license from the end 2018 beginning 2019 and over a period of 4 months.

Five holes have already been drilled between 2012 and 2013 in the southeastern part of this permit without being successful.

In the northwestern part of the perimeter, "the central zone has never been drilled," noted in late September the report of the public inquiry commission on this new application for opening offshore mining.

"The studies conducted by Total between 2014 and 2015, integrating all the data collected, make it possible to highlight an interesting exploration potential in the central area of ​​the permit," the commission's report once again recalled.

During this investigation, between the 16 July and the 23 last August, on 7.183 Reviews, "a record in public inquiry in Guyana" according to the commission, 7.173 opinions were unfavorable to these offshore drilling for 8 undefined opinions and favorable 2.

The commission of inquiry had issued a favorable opinion for this request for a drilling campaign on September 24 with three recommendations: "to reactivate the Commission of Follow-up and Concertation (CSC) on the oil in Guyana", "to draw up a notebook of specific charges on ocean sludge disposal procedures and the treatment of toxic sludge "and" implement effective control by the public authority of such releases and treatment of toxic sludge ".

The CTG, favorable to the works, underlined Tuesday night that the signing of this decree makes it possible to concretize a partnership agreement with "the oil group which fixes the mobilization of 10 millions of euros by the latter for the benefit of the local economy" , which was subordinated to "the authorization of the drilling project".

https://www.connaissancedesenergies.org ... ere-181024
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Re: Oil: when there are more, there are still

Unread Messageby moinsdewatt » 06/11/18, 21:08

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Short-Term Energy Outlook EIA source of the 10 oct 2018: https://www.eia.gov/outlooks/steo/report/global_oil.php
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