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

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nico239
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Re: Oil: when there are more, there are still

Unread Messageby nico239 » 07/11/18, 00:55

I do not know where I was talking about it but there is 2 drying up: geological drying up and economic drying up

Geological shrinkage does not make much sense finally compared to the economic ....

Once again I do not know in which subject I asked the question of the economic drying that I located (in terms of fuel) around 2 € 50 per liter

But the current events (I thought that would happen much later) tend to prove that it would be much lower .... which is not without asking many other questions.

Without a doubt by forcing a little (a lot) we will manage to climb up to these 2 € 50 ...

But after (or before) what happens ???

The problem of economic dry-down will come well before that of geological drying up

Curious that this is not more studied
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Re: Oil: when there are more, there are still

Unread Messageby Ahmed » 07/11/18, 13:01

You are absolutely right and this focus on the physical resource is quite indicative of the denial of the fragility of economic construction.
The flow of energy finds its correspondence in the money flow: if the first slows down, for whatever reason, the second is necessarily impacted. The continuation of our model of operation depends on the perpetual increase of these two flows ... : Cheesy:
Given the extreme precariousness of the economic equilibrium, it is quite likely that a significant rise in energy prices will be the trigger for the coming systemic collapse (I am not talking about the current fuel increase).

PS: in "classical" economy, we consider that the amount of extractable oil is indifferent since by increasing sufficiently the sale price, it will always be possible to find ... It is on this type of absurd postulates that rests classical economic "science" : Frown:
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Re: Oil: when there are more, there are still

Unread Messageby nico239 » 07/11/18, 13:52

Ahmed wrote:
PS: in "classical" economy, we consider that the amount of extractable oil is indifferent since by increasing sufficiently the sale price, it will always be possible to find ... It is on this type of absurd postulates that rests classical economic "science" : Frown:


Ah, as you say, it's totally absurd and even "criminal" in terms of anticipation
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Re: Oil: when there are more, there are still

Unread Messageby moinsdewatt » 09/12/18, 14:48

EXXON still finds oil in Guyana.
There would be 5 billion barrels to recover.
They provide 5 FPSO in 2025 and produce 750 000 b / d


Offshore Guyana Estimate Gets Another Upgrade

by Matthew V. Veazey | Rigzone Staff | Monday, December 03, 2018


Offshore Guyana Estimate Gets Another Upgrade
ExxonMobil reports that it's made 10th discovery offshore Guyana.
Exxon Mobil Corp. reported Monday that it made its 10th discovery offshore Guyana. Moreover, it increases its estimate of the recoverable resource for the South American country's Stabroek Block from more than 4 billion to more than 5 billion oil-equivalent barrels.

Pluma-1 well, ExxonMobil explained in a written statement emailed to Rigzone.

ExxonMobil has come out of its six months. In July of this year, it has been estimated that 3.2 trillion billion oil-equivalent barrels. Given the most recent 4 trillion-plus figure, the stabroek quoted by Stabroek.

"The discovery of a resource base of 5 trillion oil-equivalent barrels in the United States is a testament of our technical expertise and rigorous evaluation and pursuit of high-potential," Neil noted. Chapman, ExxonMobil senior vice president. "Guyanese people, our partners and shareholders," "We will continue to apply to the future.

According to ExxonMobil, Pluma-1 encountered approximately 121 feet (37 meters) of high-quality hydrocarbon-bearing sandstone reservoir. The well, which the Noble Tom Madden drillship spud Nov. 1, reached a depth of 16,447 feet (5,013 meters) in 3,340 feet (1,018 meters) of water, added the supermajor, which owns a 45-percent interest in the Stabroek Block serves as operator.

"Guyana is a world of opportunity for additional exploration potential," said John Hess, CEO of 30-percent Stabroek owner Hess Corp. "The growing resource base on the Stabroek Block is more important than any other factor in the production of XPS.
.........

https://www.rigzone.com/news/offshore_g ... 2-article/
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Re: Oil: when there are more, there are still

Unread Messageby nico239 » 09/12/18, 15:13

If in France it allows to sell the liter of fuel less than 1.50 for a long time then tutto va bene. : Mrgreen:
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Re: Oil: when there are more, there are still

Unread Messageby moinsdewatt » 12/01/19, 22:25

BP finds again a "giant" field of 1 billion barrels in the Gulf of Mexico.


BP just discovered a billion barrels of oil in the Gulf of Mexico


Jan 8 2019 Tom DiChristopher

• BP discovers 1 billion barrels of oil at its Thunder Horse field in the Gulf of Mexico.
• The oil giant also says it will spend $ 1.3 billion to develop a third phase of its Atlantis offshore field south of New Orleans.
• BP credits its investment in advanced seismic technology for speeding up its ability to confirm the discoveries.


BP's investment in next-generation technology just paid off to the tune of a billion barrels of oil.

The British energy company has discovered 1 billion barrels of crude at an existing oilfield in the Gulf of Mexico. BP also announced two new offshore oil discoveries and a major new investment in a nearby field.

BP is the Gulf of Mexico's biggest producer, and it's making strides to hold that title.

BP now expects its fossil fuel output from the region to reach 400,000 barrels of oil equivalent by the middle of the next decade. Today, it's about 300,000 boepd, up from less than 200,000 boepd about five years ago.

On Tuesday, the company said it will spend $ 1.5 billion to develop a third phase of its Atlantis field off the coast of New Orleans. Scheduled to start production in 1.3, the eight new wells will add 2020 bpd to BP's production at Atlantis. The decision comes after BP found another 38,000 million barrels of oil at the field.

BP made the massive 1 billion-barrel discovery at its Thunder Horse field off the tip of Louisiana.

Executives are crediting their investment in advanced seismic technology and data processing for speeding up the company's ability to confirm discoveries at Atlantis and Thunder Horse. BP says it would have taken a year to analyze the Thunder Horse data, but it just takes just weeks.

"We are building on our world-class position," Bernard Looney, BP's Chief Executive for Production and Exploration, said in a statement.

Just northeast of Thunder Horse, BP also announced new discoveries at Na Kika platform.

BP says it plans to develop reservoirs at its prospect manual, where Shell holds a 50 percent stake. Nearly Headless Nick Nick has found near Nick Kika, where BP has a 20.25 percent working interest.

https://www.cnbc.com/2019/01/08/bp-just ... exico.html


BP: new large-scale projects in the United States and West Africa

Published 09 / 01 / 2019

BP has made major discoveries and is launching new large offshore projects. TechnipFMC will be there.

Image

The Atlantis 3 phase involves the construction of a subsea production system associated with eight wells, which will be connected to the existing platform. The project, expected to come on stream in 2020, will increase production of the 38 000 barrels oil equivalent / day platform. (Photo: BP)

https://www.lemarin.fr/secteurs-activit ... afrique-de
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Re: Oil: when there are more, there are still

Unread Messageby Remundo » 13/01/19, 00:15

super ah, it will make 10 days more of global pollution. : Twisted:
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