Aenert news. Energy CompaniesCanada has huge oil reserves, the volume of which exceeds 160 billion barrels. However, the basis of these reserves is oil sands. At the same time, to obtain oil of traditional quality from this raw material, special expensive technologies are required. This significantly increases operating costs compared to the extraction of traditional oil. Therefore, the...
Aenert news. Energy CompaniesU.S. crude oil and natural gas production remained relatively strong in 2024Q2, although they did not exceed last year’s peak. According to the U.S. Energy Information Administration’s Short-Term Energy Outlook-August 2024, oil production in the second quarter of this year was 13.2 million barrels per day, up 2% from the previous quarter and nearly 3.5% from a year...
Aenert news. Energy CompaniesHalliburton, Schlumberger and Baker Hughes released their second-quarter financial statements in July. Below is a brief excerpt from those materials. Each of them specializes mainly in the development of highly efficient technologies and equipment for oil and gas exploration and production, decarbonization of the industry, as well as ensuring a sustainable energy...
Aenert news. Energy Market & Energy StatisticsEurostat published statistics on production and consumption of hard coal and brown coal in the EU. In general, over the last 30 years, a steady downward trend in coal production and consumption can be observed. Compared to 1990, hard coal production in the EU decreased from 277 to 50 million tons, a drop of 82%. Hard coal consumption was 128 million tons in...
Aenert news. Energy resources and infrastructureThe 2024 edition of the World Bank’s Global Gas Flaring Tracker Report reveals that the world came back to the high levels of gas flaring last seen in 2019. Global gas flaring at upstream oil and gas facilities increased by 7%, from 139 bcm in 2022 to 148 bcm in 2023. This shows that the global efforts to reduce gas flaring have not been successful and rapid action...
Aenert news. Energy CompaniesCanada has immense oil reserves, with volumes well over 160 billion barrels. However, more than 95% of this volume comes from oil sands, which are a special type of unconventional oil that are the extremely difficult to extract and further refine. Canada is the absolute leader in the extraction and processing of oil sands, successfully competing with other...
Aenert news. Energy CompaniesOil and gas production from low-permeability plays requires solving of complex engineering challenges and additional investments compared to conventional oil and gas production. Unconventional hydrocarbon production represents one of the most expensive and technologically complex options for oil and gas production. Therefore, statistical data about this process can...
Aenert news. Energy CompaniesFossil resources are still the main source of primary energy. However, in the overall structure of hydrocarbon reserves, unconventional oil, shale gas, coal bed methane, associated gas, oil from low-permeability reservoirs, etc. play an increasingly important role. The development of these reserves requires complex modern technologies, including effective...
Aenert news. Energy Market & Energy StatisticsEurostat published the statistical overview on crude oil and petroleum products covering the period between 1990 and 2022. Looking at the EU oil consumption trends shown in the table below, there has been a decrease in oil consumption, with an overall decline of approximately 17% over the last 20 years (2002-2022). During this period, the lowest...
Aenert news. Energy CompaniesThe development and subsequent industrial development of shale gas and tight oil production technologies, which was carried out at the beginning of this century in the USA, made significant changes to the oil and gas balance at the global level. Today, of the approximately 13 million Barrels per Day of oil produced in the United States, more than 60% is tight oil....
