North America will become almost totally self-sufficient in energy in two decades, thanks to a big growth in the production of biofuels, shale gas and unconventional oil, according to projections by BP. Presenting the oil company’s energy outlook to 2030, BP said North America’s energy deficit would turn into a “small surplus” by that year. That [...]
No issue in Latin America this year may be more fraught with volatility than energy. The Mayan calendar prophesied the end of the world this December. But for Latin America’s energy scene, the year is shaping up to be anything but a march toward the end of time. There are several themes to consider as 2012 unfolds. [...]
Qatar Petroleum (QP) could reconfigure its US import terminal to export gas in a bid to cash in on the US supply glut arising from the shale gas revolution, says one of Qatar’s prime ministers. The multibillion-dollar facility was procured before the US began producing abundant quantities of natural gas from hydraulic fracturing – or [...]
BP and ConocoPhillips now believe a major liquefied natural gas project is the best option for marketing North Slope gas, the chief executive officers of the two companies said following meetings with Gov. Sean Parnell Thursday morning. Robert Dudley of BP, James Mulva of ConocoPhillips and Rex Tillerson of ExxonMobil met with Parnell and then, [...]
BP continued its asset sale programme to raise money to help meet the costs of last year’s Gulf of Mexico oil spill with the announcement of the sale of its North American business that pipes and stores natural gas across Canada and the US Midwest. The deal valued at $1.67bn, sees Plains Midstream, a subsidiary of Houston-based Plains All American Pipeline acquiring ownership [...]
By SteveLeVine The shakeup over shale gas — a newly available fuel that has overturned assumptions about energy, climate-change and geopolitics — has now stretched across the Atlantic to England. A drilling company backed by John Browne, the former CEO of BP, says it has discovered the gas equivalent of up to 35 billion barrels [...]
The North American shale boom hasn’t only taken the energy markets by storm, it has also revamped the way energy company are approaching the new industry according to a new article posted in the Oil & Gas Financial Journal. The key to the new business model for small independent exploration and production (E&P) companies is [...]
After decades of failing onshore production, the US is marking a boom in shale gas that is turning the energy market into a new, exciting – and potentially lucrative – venture for the United States. “It’s a very big plus for the US economy and energy security,” said Pete Stark, vice-president of industry relations for [...]
During a conference held at the Massachusetts Institute of Technology (MIT) earlier this summer entitled “Unconventional Natural Gas,” industry experts meeting to discuss the role of shale gas in the US energy landscape called the unconventional gas “the bridge to the future.” “Historically gas has been undervalued in the market,” said Tony Meggs, former head [...]
A new article in this month’s edition of The Economist details how global oil giants have, over the last several years, been rushing to join the booming shale industry. From Shell to Total, from BP to Chesapeake and ExxonMobil, nearly every major oil company has been making mergers and acquisitions to become players in the [...]
