<a href="http://youngpetro.org/2013/03/06/how-is-it-possible-to-produce-oil-from-sand/"><b>How is it possible to produce oil from sand?</b></a> <a href="http://youngpetro.org/2011/10/09/people-engineers-and-spe-members/"><b>People, Engineers and SPE Members</b></a> <a href="http://youngpetro.org/2012/12/19/if-i-were-a-prime-minister/"><b>If I Were a Prime Minister…</b></a> <a href="http://youngpetro.org/2012/12/26/polish-shales-delayed/"><b>Polish shales delayed?</b></a> <a href="http://youngpetro.org/2013/01/11/russia-continues-the-policy-of-states-companies-monopoly/"><b>Russia continues the policy of state companies’ monopoly</b></a>
 

Annual Student Energy Conference 2014

Annual Student Energy Conference 2014

When: 5th – 9th March 2014

Where: University of Zagreb, Zagreb, Croatia

Website: http://spes.rgn.hr/asec/

Facebook: Facebook.com

ASEC 2014

▶The Conference brings together some of the best students and young professionals from all over the world to discuss the latest developments in the energy world, with a strong emphasis on the oil & gas industry.

▶The Conference lasts FIVE EXCITING DAYS and is packed with educational and social activities, including:
• compelling keynote addresses from industry experts;
• educational sessions with student and expert presenters;
• panel discussions;
• conference coffee-breaks featuring traditional local desserts;
• topical lunches and dinners with delicious local food;
• excursions to the UNESCO World Heritage site of Natural Park “Plitvice Lakes”, the world-famous Neanderthal Museum of Krapina and the “Zrinski” Historical Mine;
• a student party to top it all off!

▶The Call for Abstracts is  open — abstract submission deadline is February 15th.

▶All in all — this event is guaranteed to be highly educational, fun and unforgettable! Places are limited so secure your place now!

▶More INFO & REGISTRATION: http://spes.rgn.hr/asec/

▶Please share this event with your colleagues and friends who might be interested. Thank you and we look forward to seeing you at the Conference!

BP Energy Outlook 2035

17 January, 2014 News No comments
BP Energy Outlook 2035

Global energy demand continues to grow but that growth is slowing and will mainly be driven by emerging economies – led by China and India – according to the latest edition of the BP Energy Outlook 2035.

The Outlook reveals that global energy consumption is expected to rise by 41 per cent from 2012 to 2035 – compared to 52 per cent over the last twenty years and 30 per cent over the last ten. Ninety five per cent of the growth in demand is expected to come from the emerging economies, while energy use in the advanced economies of North America, Europe and Asia as a group is expected to grow only very slowly – and begin to decline in the later years of the forecast period.

Shares of the major fossil fuels are converging, with oil, natural gas and coal each expected to make up around 27 per cent of the total mix by 2035 and the remaining share coming from nuclear, hydroelectricity and renewables. Among fossil fuels, gas is growing fastest, increasingly being used as a cleaner alternative to coal for power generation as well as in other sectors.

Primary Energy

The Outlook shows global energy demand continuing to increase at an average of 1.5% a year to 2035. Growth is expected to moderate over this period, climbing at an average of 2% a year to 2020 but then by only 1.2% a year to 2035. 95% of this growth is expected to come from non-OECD economies, with China and India accounting for more than half of the increase. By 2035, energy use in the non-OECD economies is expected to be 69% higher than in 2012. In comparsion use in the OECD will have grown by only 5%, and will actually have fallen after 2030, even with continued economic growth.

While the fuel mix is evolving, fossil fuels will continue to be dominant. Oil, gas and coal are expected to converge on market shares of around 26-27% each by 2035, and non-fossil fuels – nuclear, hydro and renewables – on a share of around 5-7% each.

Oil

Oil is expected to be the slowest growing of the major fuels to 2035, with demand growing at an average of just 0.8% a year. Nonetheless, this will still result in demand for oil and other liquid fuels being nearly 19 million barrels a day higher in 2035 than 2012. All the net demand growth is expected to come from outside the OECD – demand growth from China, India and the Middle East will together account for almost all of net demand growth.

Gas

Natural gas is expected to be the fastest growing of the fossil fuels – with demand rising at an average of 1.9% a year. Non-OECD countries are expected to generate 78% of demand growth. Industry and power generation account for the largest increments to demand by sector. LNG exports are expected to grow more than twice as fast as gas consumption, at an average of 3.9% per year, and accounting for 26% of the growth in global gas supply to 2035.

Coal

After oil, coal is expected to be the slowest growing major fuel, with demand rising on average 1.1% a year to 2035. Over the period, growth flattens to just 0.6% a year after 2020. Nearly all (87%) of the net growth in demand to 2035 is expected to come from just China and India, whose combined share of global coal consumption will rise from 58% in 2012 to 64% in 2035.

Other 

Nuclear energy output is expected to rise to 2035 at around 1.9% a year. China, India and Russia will together account for 96% of the global growth in nuclear power, while nuclear output in the US and EU declines due to expected plant closures. The growth in hydroelectric power is expected to moderate to 1.8% a year to 2035, with nearly half of the growth coming from China, India and Brazil. Renewables are expected to continue to be the fastest growing class of energy, gaining market share from a small base as they rise at an average of 6.4% a year to 2035. Renewables’ share of global electricity production is expected to grow from 5% to 14% by 2035. Including biofuels, renewables are expected to have a higher share of primary energy than nuclear by 2025.

Read more and download the full Outlook at BP’s Energy Outlook 2035 website.

Source: BP

Russia’s First Arctic Offshore Field Starts Production

20 December, 2013 News No comments
Russia’s First Arctic Offshore Field Starts Production

Russia’s first Arctic offshore field Prirazlomnoye, where Greenpeace activists were arrested in September after a high seas clash with Russian authorities, has started production of oil, energy company Gazprom said today.

The project is almost a decade behind its initial schedule and is one of the most controversial energy projects, seen as dangerous for the environment by the greens, who say that the drilling and storage platform is three decades old.

“We became the pioneers of Russia’s Arctic development,” Gazprom’s Chief Executive Officer Alexei Miller said in a statement.

President Vladimir Putin has said Russia’s Arctic offshore riches are of a strategic importance for the country, which now is pumping an average of 10.6 million barrels of oil per day (bpd), close to its current capacity.

However, start of production had long been delayed due to various challenges, including ageing equipment and a change in shareholders structure. Difficulties obtaining official clearances and technical problems also hampered the project.

Russia, the world’s second-biggest oil exporter, is vying with Canada, Denmark, Norway and the United States for control of the oil, gas and precious metals that would become more accessible if global warming shrinks the Arctic ice cap.

STRATEGIC REGION

Greenpeace has said that oil production in the pristine region risks spills similar to the Mexican Gulf disaster at BP’s platform in 2010, saying that some of Prirazlomnaya platform’s parts were used at another offshore project some 30 years ago.

The activists issued a statement on Friday, saying, the launch of production is “a dark day for the Arctic”.

“Gazprom is the first company on Earth to pump oil from beneath icy Arctic waters and yet its safety record on land is appalling. It is impossible to trust them to drill safely in one of the most fragile and beautiful regions on Earth,” Greenpeace said in a statement.

Gazprom has said it has taken all necessary measures to prevent any incidents.

Russia detained 30 Greenpeace activists protesting against Arctic drilling at the Prirazlomnaya platform in September. The protesters faced jail sentences of up to 7 years although Putin later announced an amnesty, which covers the activists.

The Arctic region is seen as an important source of potential growth for Russia, the world’s largest oil producer, in the next decade, with global oil majors including ExxonMobil , Eni or Statoil clinching deals to enter the Russian Arctic..

Production from these projects is not seen before late 2020s.

Gazprom Neft had expected initial production at Prirazlomnoye at 12,000 barrels per day in 2014 with a plateau of 120,000 bpd in 2021.

Oil will be extracted from the deposit, where winter temperatures often plunge below minus 50 degrees Celsius (minus 58 Fahrenheit), and then pumped to tankers bound for Europe.

Gazprom Neft sees overall investments into the project at around $6 billion, of which half had already been spent with the bulk accounting for a special ice-proof platform.

Source: Reuters

Oil Price Above $110

16 December, 2013 News No comments
Oil Price Above $110

Brent crude oil rose above $110 a barrel on Monday as supply concerns resurfaced after Libya failed to reach a deal with tribal leaders to end a blockade of several oil-exporting ports.

The closure of the Libyan oil ports is preventing export of several hundred thousand barrels per day (bpd) of high quality, light crude, tightening an oil market that might otherwise be fairly well supplied. Brent futures for January rose $1.97 a barrel to a high of $110.80 before easing to around $110.25 by 1300 GMT, up $1.42. The contract lost 2.5 percent last week. U.S. crude futures rose 70 cents to $97.30 after ending 90 cents lower on Friday, down 1 percent for the week.

Libyan port blockages, along with strikes by oil workers, civil servants, tribesmen and other protesters at oilfields across the desert country, have cut its oil exports to around 110,000 bpd from more than 1 million in July. “This means that approximately 600,000 bpd of potential exports will remain off the market,” JBC Energy Managing Director David Wech said. Analysts worry that Libya is sliding into chaos as the government struggles to rein in militias and tribesmen who helped topple Muammar Gaddafi in 2011 but kept their weapons and control parts of the OPEC-member country.

“This latest disappointment only reinforces our view that Libyan production will struggle to exceed 800,000 bpd in 2014,” Morgan Stanley oil analyst Adam Longson said.

“Resolving deep disagreements will likely require material changes at the federal level, and threats by the government to use force only risk exacerbating the situation.” Investors awaited a U.S. Federal Reserve decision on how soon to end its monetary stimulus, which has helped drive investment in global commodities. The U.S. central bank meets on Tuesday and Wednesday to discuss the gradual tapering of its stimulus programme and opinion is divided on whether it will move this week or wait for early next year. A cut in its stimulus would boost the dollar, weighing on most commodities, including oil.

Source: Reuters

Russia to invest $63bn for Arctic development

23 October, 2013 News No comments
Russia to invest $63bn for Arctic development

Russia plans to spend $63 billion by 2020 on its Arctic development program, according to a top government official.

The draft version of the program could be submitted to the Cabinet by November 1, said Regional Development Minister Igor Slyunyayev. The comment was made in Moscow at the general assembly of the Northern Forum, which supports sustainable development in areas economically dependent on natural resources.

Major Russian companies are expected to finance more than half the program’s cost, while one-third of funding will likely come out of the federal budget.

Below the ice and cold waters of the Arctic Ocean are hidden vast natural reserves, including approximately 20% of oil reserves worldwide and around 30% of the planet’s natural gas. There are also believed to be deposits of platinum, gold and tin – just for starters.

The untapped natural resources have seen conflicting claims from Canada, Denmark, Norway, Russia and the US in recent years, as exact borders between the sovereign zones which surround the Arctic are far from defined. The situation has led to the rise of national Arctic development and has prompted increased military presence in the area – especially on behalf of Canada and Russia. Most recently, it has been discovered that the Canadian military has been secretly test-driving a $620,000 stealth snowmobile designed for clandestine operations in the Arctic, The Canadian Press reported.

Arctic climate change is progressing twice as fast as in the rest of the world. As the Arctic ice cap decreases year by year, the vast natural resources and sea routes become more accessible.

There are still a lot of technical and environmental challanges to be solved in the Arctic, but with so many investments being made there is no doubt we will see a lot more activities in the Arctic within the next decade(s).

 

Source: RT

Photo: greenpeace.org.au