APLNG buys Kincora project gas

Brisbane-based Armour Energy Ltd. has executed a gas sales agreement with the Origin Energy Ltd.-led Australia Pacific LNG group for the supply of 1.8 petajoules of gas from Armour’s Kincora Roma Shelf gas project in the Surat basin of southeast Queensland to APLNG’s LNG plant on Curtis Island near Gladstone over a minimum of 5 years.

How Much Biofuel Do Santa’s Reindeer Need?

Each Christmas, around the world billions of children sit quietly in their beds at night pondering one of life’s biggest mysteries about a fat man in a red suit; ‘what are the propulsion specs on Santa’s sleigh and what is the relative level of its fuel economy?’ OK, so maybe it’s only the engineering minded children who are wondering that. Still, it’s an important question to consider. We already have a clear answer to how much oil Santa’s sleigh needs to use for backup power in the event that Rudolph…

Saudi Use Of Solar Could Boost Its Oil Exports

Saudi Arabia will turn to solar for electricity, which could allow it to export a lot more oil. The connection between solar and oil is not an obvious one since they typically do not compete against each other – oil is used to refine fuels for transportation while solar is used to generate electricity. Solar traditionally competes with natural gas, coal and nuclear power. However, that is not the case in Saudi Arabia, where oil is still burned for electricity, an increasingly uncommon practice throughout the world. In fact, Saudi Arabia is…

Gazprom Neft makes Serbian discovery

A new deposit in Serbia’s Pannonian oil and gas basin may contain recoverable reserves of 432,000 tonnes, according to Russia’s PJSC Gazprom Neft. The Idos-X-4 well was drilled to the Neogene-aged formation at a depth of 2,268-2,287 m in the Idos-Sever (Northern Idos) field.

Oil Consumption Is Immune To A Transport Transformation

96 percent of new vehicle sales in 2016 featured combustion engines The implementation of electric vehicles and ride-sharing may have long-term effects on oil demand, but the speed at which changes to the vehicle fleet takes place are likely to ensure that it happens at a slow pace, according to a report by IHS Markit. While IHS and many other prevailing long-term global energy forecasts expect oil demand to continue to grow over the next two decades, the potential for disruptive changes to transportation—a sector that accounted for half…

Saudis Up Oil Price Outlook, See Budget Deficit Shrink

After suffering two record budgets shortfalls in 2015 and 2016 as a result of plunging oil prices, which nearly brought both Saudi Arabia’s economy and banking sector to a standstill, not to mention the billions in unpaid state worker wages – at least until generous foreign investors funded the Kingdom’s imminent cash needs with its first bond sale ever – today, Saudi Arabia released its budget outlook for the next year. And while the Saudis believe the country’s budget deficit will fall modestly next year, even with an increase in spending,…