TOPICS OF INTEREST
A Net-Zero Future Full of Opportunities for a New North Sea
Despite the global downturn, the long-term transition to net zero presents a major opportunity to create new multibillion industries based around the North Sea. Cross-sector collaboration and major state/private sector intervention, together with strong leadership, will be key.
As Renewables Grow, Oil Continues To Dominate Share of Energy Mix
World energy is at a “pivotal moment,” says BP CEO in annual statistical review, which reveals contrasts, challenges in energy consumption, production, and emissions.
Pandemic Delivers Seismic Shock to Global Energy System: WEC
COVID-19 will fundamentally affect the world’s energy systems and the pace and direction of global transition. The WEC identified a three-stage, respond-rebuild-recreate model being adopted by energy companies in response to the pandemic.
Shuttle Concept Brings CO2 to Subsea Reservoirs
A new idea from Equinor calls for autonomous submarines to transport CO2 from the surface to the seabed. The Norwegian operator says the shuttles could also carry oil and water for injection.
BP Slashes Up to $17.5 Billion in Assets; Cites Pandemic for Swifter Shift to Net Zero
Write-offs include billions for early-exploration-stage projects that the company will now cut.
Google Says No More AI or Machine Learning for Upstream Industry
The Internet giant is walking away from the exploraiton and production business following a report that claimed it was undermining its own climate initiatives by offering its machine-learning tools.
ExxonMobil, Pioneer Propose A Methane Monitoring Network For Texas Oil Fields
Tracking down fugitive emissions has traditionally relied on small-scale detection efforts. This new project seeks to buck the trend by covering the Permian Basin with sensors.
Omani- and Shell-Backed Solar EOR Firm Runs Out of Steam
GlassPoint Solar was founded in 2008 to replace the use of natural gas for steamflooding heavy-oil reservoirs. But amid low energy prices, its chief investor has decided to pull the plug for good.
Human Rights as a Sustainability Goal
While sustainability is approached through various means within the industry, at its core is the welfare of human beings. Recent SPE papers demonstrate the importance of human rights in the industry’s drive toward sustainability.
ExxonMobil Field Tests New Methane Leak Detection Systems
As studies point to increased emissions, ExxonMobil is stepping up efforts to detect and mitigate methane release.
ExxonMobil Shares Blueprint for Stricter Regulations of Methane Emissions
The largest oil and gas major in the US is calling for tighter rules around methane monitoring, wellhead venting, and the replacement of equipment components with “high-leak potential.”
Innovators Seek To Transform Flaring Into Money and Power
Instead of burning money, why not make electricity? This is the big pitch being made by a growing number of technology companies who see green every time they see a red-hot flare burning associated gas.
BP Aims for Net-Zero Emissions, Oxy To End Flaring
BP says it is firmly committed to achieving the ambitious target of net-zero greenhouse gas emissions over the next 30 years—even if that means producing less oil and gas.
EIA: US Crude and Renewables Will Coexist For Decades To Come
While renewable energy sources are poised to see major growth, possibly displacing natural gas as the top source of electricity in the US, hydrocarbon production will remain above or near current historical highs until at least 2050.
Lundin Petroleum Joins Decarbonization Movement With a Name Change
The Swedish oil and gas producer is aiming to produce 200,000 B/D while offsetting the entirety of its carbon footprint.
Eni, ADNOC Sign Carbon Capture Agreement
The companies will focus on research and development to reduce CO2 emissions and promote the circular economy.
Oxy and Total Team Up in Colorado for Carbon Sequestration Project
A new joint study will test the economic viability of taking CO2 from a cement plant and giving it to an oil company to pump underground.
Total Officially Enters Libya’s Waha Concessions
Total will invest $650 million in the development of two main projects, North Gialo and NC 98, resulting in a 180,000-B/D increase in production.
Repsol Becomes First Oil Company To Aim For Net-Zero Emissions By 2050
The Spanish oil and gas company says existing or foreseeable technologies will achieve at least 70% of its ambitious plan to shrink its carbon footprint.
Oil and Gas UK Calls for Urgent Action on Carbon Capture and Storage
Rapid scale-up of CCUS projects is critical to achieving net-zero carbon emissions by 2050.
Short-Term Headwinds and Fundamental Long-Term Change Will Challenge Oil and Gas Industry in 2020
Macroeconomic and business risks, investor uncertainty, and the energy transition highlight the challenges outlined in the report.
European Investment Bank To Stop Funding Oil and Gas Projects
The bank funded some €2 billion in projects last year.
IEA Outlook Highlights Deep Disparities in Global Energy System
Annual report says that governments have the greatest capacity and responsibility to shape the energy future.
Oilfield Service Firms Branch Out Past Oil and Gas
Service firms are diversifying their portfolios, in part driven by large-scale budget cuts among operators since the industrywide downturn.
The New Baker Hughes Goes From Blue To Green
The 100-year-old service company has joined the effort to achieve net-zero carbon emissions over the next 30 years. The move follows similar companywide efforts by BP and Shell.
Oxy Starts Up Solar Facility To Power Permian EOR
The 16-MW solar facility in Ector County, Texas, near Odessa, powers the Goldsmith field through deployment of 174,000 photovoltaic panels.
Industry’s Difficult Task: Meet Global Demand While Lowering Emissions
Panelists at the opening general session of the SPE Annual Technical Conference and Exhibition acknowledged the industry’s daunting challenge of meeting global demand while reducing its carbon footprint.
Transforming Natural Resource Management for a Sustainable Planet
This paper presents the recent expansion of UNFC guidance to cover social and environmental effects and the further transformation of the system to make it a valuable tool in resource management for governments and businesses.
Wood Mackenzie: Peak Oil Demand Is Coming, Will Transform Exploration Sector
The confluence of alternative energies, shifting public sentiment, and the industry’s own improvements to existing fields may upend the industry’s “engine of growth.”
What Does the New Silk Road Mean For Oil and Gas?
Executives from two of Asia’s largest national oil companies declared China’s Belt and Road Initiative project a driving force behind their shifting priorities to diversify the world’s energy mix.
One Industry of Global Citizens
An assortment of sustainability initiatives shows how the oil and gas industry, leveraging its reach, diversity, and resources, is going well beyond just supplying energy to impact the world for the better.
The Challenge of Public Perception
Are you annoyed by all the wrong things passing for facts about oil and gas? A lot of petroleum engineers are. As for what to do to solve the problem, that gets complicated, and likely will require studying psychology.
How the Oil and Gas Industry Is Contributing to Sustainability
In September 2015, the United Nations adopted 17 Sustainable Development Goals, addressing the global challenges facing humanity, including poverty, inequality, health, education, energy, climate, the environment, and prosperity.
Sustainability Means Survivability for the Oil and Gas Industry, World Abroad
Sami Alnuaim, 2019 SPE president, welcomed the addition of two new oil and gas sustainability initiatives at the University of Houston and highlighted a number of ways the industry is already acting as a good global steward.
SPE Agreements Will Promote Social Responsibility, Sustainability
SPE signed agreements with two leading industry associations to promote knowledge sharing and best practice in social responsibility.
Community Engagement and Partnership for Successful E&P Operations in Bolivia
Relationships and engagement with communities in direct areas of influence is of paramount importance for successful exploration and production (E&P) operations.
Opening Session Tackles Economic and Environmental Sustainability
SPE’s annual meeting opened Monday morning with a look at the economic and environmental sustainability of the oil and gas industry.
Southwestern Energy Operations Become Freshwater Neutral
The company makes good on a pledge to reduce freshwater use and replenish the fresh water it uses.
Shell Expands Investments in Solar Energy
Shell invested in a Singapore solar company and signed an agreement to purchase a Texas company with solar and other renewable assets. Along with its minority stake in a company that uses solar to generate steam for EOR in the Middle East, Shell catches some rays in the Asia Pacific, US, and Oman.
Solar EOR Firm Looks To Heat Up the Competition
In thermal enhanced oil recovery there is one big ingredient: steam. A new startup from Germany believes it has found the oil industry’s cheapest way to make it.
Building Relationships With a Marginalized Community in Iraq
A consortium of international and national Iraqi oil and gas companies took operatorship of the Qarmat Ali water-treatment plant. They engaged and responded to community expectations for social investment while addressing the effects of operations.
Climate Change and SPE
Last year, SPE created a task force to study the topic of climate change and to determine if a public position statement should be created. After a year-long review, it recommended that we not develop a statement on climate change, which was accepted by the SPE Board of Directors in March.
Industry Perspectives Vary on Implementing Effective Social Performance
Social responsibility has become a common term but what defines “social performance?” In a globalized economy, with multinational corporate and state actors having a more immediate effect on individual lives than ever before, social performance initiatives should not be viewed as an expendable cost.
Joining Forces for Sustainable Communities
Global, multinational companies often make commitments for local infrastructure as a condition to do business in host countries.
Corporate Social Responsibility Vital to Industry Operations
Corporate social responsibility (CSR) programs are a critical part of oil and gas project development. As companies continue to work in more densely populated communities, they have become better at working with local authorities to protect the interests of the people their operations affect.
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06 July 2020
30 June 2020