The world is set to enter a new energy era, with an oil and gas surplus and a surge in renewable energy manufacturing bringing down prices for consumers, the International Energy Agency said on Wednesday.
“The IEA’s forecast of an upcoming peak in demand for oil, gas, and coal remains unchanged, even as its forecasts for clean energy deployment have been revised upwards yet again. With electric vehicle sales and renewable capacity additions breaking records fossil fuels are looking increasingly obsolete.
Production from the BED4-T100 (“T100”) horizontal well is averaging 200 barrels of fluid per day and 35 percent water. Operation of the T100 well has been intermittent for the last two months as the reservoir extent was assessed through pressure build-up analysis and the lift system optimized. The T100 well initially produced under natural flow and subsequently with a jet pump to recover the large volumes of fracture fluid containing sand. The T100 well is now equipped with a sucker rod pump for long term stable production. Cumulative oil production of the T100 well to date is in excess of 15,000 barrels and shipments have commenced to third party facilities. Further evaluation by the Company is also underway of fluid samples, drill cuttings, and tracers as they flow back, to inform performance of stimulated sections along the horizontal lateral and further optimization potential on the T100 well.
The 30 oil and gas blocks auction that has been underway for more than two years for a procedure that cannot exceed 18 months has been finally put to an end to the delight of climate change activists. On Monday 14 October, the Ministry of Hydrocarbons in DRC represented by Mr. Aimé Molendo Sakombi issued a cancellation statement and plan to immediately relaunch the auction to avoid the irregularities previously encountered and above all to hold hydrocarbon rights for better ecological preservation.
The Nigerian National Petroleum Corporation (NNPC) has signed a deal with Shell, TotalEnergies, and Agip to supply gas to the $3.3 billion methanol-manufacturing plant of Brass Fertilizer & Petrochemical Company Ltd. Under the terms of the agreement, the NNPC and its partners will supply 270 million standard cubic feet of gas daily to the plant, which will be situated on Brass Island, Bayelsa State.
The Public Interest and Accountability Committee (PIAC) will today commence a two-day workshop on finding solutions to the declining crude oil production in the country.
On a recent visit to Rangely, a small town in northwest Colorado, my colleagues and I met with the administrators of a highly regarded community college to discuss the town’s economy. Leaving the scenic campus, we saw families driving into the mountains in off-road vehicles, a favorite activity for this outdoors-loving community. With a median household income above US$70,000 and a low cost of living, Rangely does not have the signs of a town in economic distress.
The Colorado Energy & Carbon Management Commission approved a suite of new rules for oil and gas development in Colorado Tuesday.
As the agricultural landscape continues to evolve, many farmers are exploring new opportunities to diversify their production and tap into lucrative markets. One such avenue gaining attention is the essential oils industry, which offers farmers the chance to produce high-demand products for both local and international markets.
The African Energy Chamber (AEC) (www.EnergyChamber.org) – the voice of the African energy sector – is proud to announce that the African Energy Week (AEW): Invest in African Energy conference remains committed to hosting the African continent’s most successful energy event in Cape Town. AEW was established in 2021 under the premise to make energy poverty history by 2030 and, now in its fourth immensely successfully edition, we remain devoted to keeping the event at Cape Town’s International Conference Center (CTICC) until 2030.