Add the arrests of the former oil minister and an oil executive to the list of reasons investors could be a bit nervous about investing in Nigeria’s oil sector.
China also remains the biggest source of uncertainty because it accounts for such a high share of growth yet its economic outlook is so hard to forecast and its fuel data are so opaque.
Panelists at the opening sesion of the Society of Petroleum Engineers’ Annual Technical Conference and Exhibition were asked to give advice to students and displaced professionals on what they should be doing to find jobs.
Consumption of petroleum products rose by 1.6 percent in the first six months of 2015 compared with the same period a year earlier, according to the UK Department of Energy and Climate Change.
Scheduled for 11 a.m. to 4 p.m. Oct. 17 at Sam Houston Park in Houston, the free event will feature more than 70 exhibits and demonstrations with music, food and games.
Decline rates will cut output by several million barrels per day each year in 2016 and 2017 unless oil producers invest to maintain production levels from existing fields and develop replacement fields.
Ninety of the 159 successful cyber intrusions targeted the U.S. Department of Energy’s Office of Science, which directs scientific research and heads 10 federal energy laboratories.
One key reason that rigs are still running at all in the United States is due to the resilience of the service sector, according to Don Briggs.
Production is up in Texas, but that could change as the price of oil falls. The Texas Alliance of Energy Producers said that the value of crude produced in Texas fell by 44.3% to about $5.3 billion, with crude oil prices averaging $47.93/bbl, in July.
When it comes to the energy industry, methane emissions loom as the Achilles heel of natural gas. On the surface, natural gas appears to many as a star American player—abundant and cleaner burning than coal. But unchecked methane emissions, which are 84 times more potent than CO2, undercut natural gas’ climate change performance.
The process called pyrolysis heats oil-contaminated soil to about 420 degrees C, transforming it into a petroleum coke-like material the scientists called “char,” not to be confused with biochar.
Investments in energy efficiency and policies to encourage conservation ebbed as memories of the oil shocks receded and a long period of relatively low prices encouraged complacency. But it could prove much harder to stimulate increased oil consumption this time around because policies to encourage further reductions in fuel demand for years ahead are now entrenched in legislation.