Post Tagged with: "CO2 emissions"

Chevron Starts Burying CO2 off Australia at Huge Gorgon Storage Project

Chevron Starts Burying CO2 off Australia at Huge Gorgon Storage Project

From Reuters Chevron Corp (CVX.N) said on Thursday it has launched one of the world’s largest carbon capture and storage projects, injecting CO2 into a deep reservoir under an island off Western Australia at its Gorgon LNG project. The carbon storage project was delayed by more than two years after Chevron discovered problems with valves and pipeline equipment during commissioning of the A$2.5 billion ($1.7 billion) injection system. Gorgon is the biggest emitter of carbon emissions out of Australia’s 10 LNG plants, with gas from the Gorgon field containing 14% CO2. Growth in LNG exports has been a big contributor to Australia’s rising CO2 emissions, according to the Environment and Energy Department. “We are pleased to reach the first milestone of safely starting the operation of the Gorgon carbon dioxide injection system, one of the world’s largest greenhouse gas mitigation projects ever undertaken by industry,” Chevron Australia Managing Director Al[Read More…]

EIA Releases STEO

EIA Releases STEO

The EIA today released data on the main energy producing industries in the U.S, and its predictions for 2019. Commodities pricing In July 2018, Brent crude oil spot prices averaged $74 per barrel (b), which is largely unchanged from the average in June. EIA expects Brent spot prices will average $72/b in 2018 and $71/b in 2019. EIA also expects West Texas Intermediate (WTI) crude oil prices will average about $6/b lower than Brent prices in 2018 and in 2019. NYMEX WTI futures and options contract values for November 2018 delivery that traded during the five-day period ending August 2, 2018, suggest a range of $54/b to $84/b encompasses the market expectation for November WTI prices at the 95% confidence level. Based on this information the EIA estimates that U.S. crude oil production averaged 10.8 million barrels per day (b/d) in July, up 47,000 b/d from June. EIA forecasts that[Read More…]

Exhaust fumes blown into a sky.

Dr. Patrick Moore – CO2 Emissions are Life Saving

An Oil & Gas 360® exclusive interview with a founding member of Greenpeace International Oil & Gas 360® spoke with Dr. Patrick Moore, cofounder of Greenpeace International about the organization’s purpose in its early days. Initially, the group was formed to stop nuclear bomb testing and to save whales, but the organization went off the rails, according to Moore, who left the organization when it tried to ban chlorine worldwide. Moore said the organization achieved its initial goals, but became more radical afterwards. “Once you get the job done, you don’t have to keep beating your head against the wall,” said Moore. “When you succeed, all of a sudden it’s a whole new world and you [must] change your approach to the new reality of the fact that you’ve won.” Climate change runs on fear and fundraising, says Moore. “There’s lots of money in climate change, but it’s all because[Read More…]

August 28, 2015 - 6:57 pm Oil and Gas 360 Articles