Sentences with phrase «oil equivalent»
The phrase "oil equivalent" refers to a way of measuring and comparing different sources of energy to the amount of energy that can be obtained from oil. It helps understand how much energy an alternative source, such as natural gas or solar power, can produce compared to a certain volume of oil. Full definition
The group has previously said it aimed to reach a level of 400,000 barrels of oil equivalent per day without a specific time frame.
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Production fell 23 percent to 1.2 million barrels of oil equivalent per day.
Energy use in the EU fell to 1,666 million tonnes of oil equivalent in 2013, according to the latest data from Eurostat, the European Commission's statistical body.
As one of the basin's largest acreage holders, Chevron controls an estimated 9.3 billion barrels of oil equivalent resources.
Coal consumption will climb to 4.32 billion tons of oil equivalent by 2017, nearly matching oil consumption of about 4.4 billion, the Paris - based agency said in its first Medium - Term Coal Market Report.
Fossil fuel usage, meanwhile, is expected to hit its ceiling in 2030 at 2.93 billion tons of oil equivalent with coal expected to continue as the top energy source for China by 2050.
The acquired companies added 18,000 net oil equivalent barrels per day to the output of Exxon, which at the time produced around 140,000 net oil - equivalent barrels per day across its Permian Basin leasehold.
Instead, The RSPO (Roundtable on Sustainable Palm Oil) Book & Claim option, GreenPalm can cover the entire cake by supporting RSPO certified producers for an amount of palm oil / palm kernel oil equivalent to that used in the cake.
«The total deferred production due to the attack is 65,000 barrels of oil equivalent daily «I can confirm that.
China is keen to find natural resources and the Arctic could hold some 90 billion barrels of oil equivalent according to the U.S. Geological Survey.
Italy - based oil and gas major Eni will invest US$ 3 billion in the Republic of Congo over the next four years, generating an expected equity production of 150 million barrels of oil equivalent from tar sands and biodiesel production.
At current rates of growth, the IEA says that it expects that coal consumption will rise to 4.32 billion tonnes of oil equivalent versus 4.4 billions tonnes of oil per year worldwide within only four years; with that trend continuing, coal would quickly overtake oil as the world's fuel source of choice.
«There could be 20 billion barrels of oil equivalent left to exploit but the UK competes against every other basin in the world for investment and I am committed to make sure that we have a licensing regime and investment environment that attracts quality companies and investment to fully exploit the remaining potential.
From 2000 − 2016, ~ 80 % of the increased primary energy supply (~ 4 billion tonnes of oil equivalents globally) is attributable to new oil, coal, and natural gas production, with coal supply increasing the most.
The California legislature can, if they wish, impose a tax on every barrel of oil equivalent which is produced or imported into the state, and use those funds to «mitigate» climate change.
Petrobras says new Sapinhoá offshore Brazil field has 2.1 B barrels of oil equivalent estimated recoverable
Finally, an application example is given using the series of the CO2 annual emissions intensity in Greece (kg per kg of oil equivalent energy use) for the period 1961 - 2010.
Once built, the sites» cumulative output should help Morocco avoid roughly 1 million tons of oil equivalent in imports annually and reduce emissions by 3.7 million metric tons of CO2 equivalent, according to the Moroccan Agency for Solar Energy.
Continental's North Dakota production jumped about 50 percent in the first quarter, leap - frogging Whiting's output in the state by about 50,000 barrels of oil equivalent per day (boe / d).
Overall, the company has 19,000 future drilling locations across the Basin, which it estimates could help it unlock more than 8 billion barrels of oil equivalent resources.
Energy efficiency measures in International Energy Agency member countries generated energy savings of 450 million tonnes of oil equivalent in 2015 and reduced total energy expenditure by $ 540 billion.
The field, covering nearly 75 square miles, was discovered in 1911 and has produced over 2 billion barrels of oil equivalent (BOE), making it one of the most productive fields in the United States.
Netbacks, profit after subtracting transport and other expenses, averaged C$ 16.80 per barrel of oil equivalent in the first quarter, compared with C$ 21.25 a year earlier.
On Thursday, it announced it would reduce its production guidance for the year by about 10,000 barrels of oil equivalent per day to an average of about 315,000 boe / d, with exit production of about 335,000 boe / d, to account for lower heavy oil production, an advanced schedule for maintenance at its Tucker oilsands project and a slower ramp up in liquids - rich natural gas output from its BD Project in Indonesia.
Total upstream production came in at 689,400 barrels of oil equivalent per day in the first quarter, compared to 725,100 boe / d in the prior year quarter, as oilsands output fell to 404,800 barrels per day from 448,500 bpd.
PDC Energy Announces 2018 First Quarter Operating and Financial Results Including Production Increase of 34 % to 8.9 Million Barrels of Oil Equivalent
The ranking here is in «tonnes of oil equivalent» or TOE — meaning renewable energy sources generated (and presumably replaced) the energy created by burning that many metric tons of oil in a year.
«We just closed on our first oil asset for $ 150 million, and it produces about 3,500 BOEs — barrels of oil equivalent — a day.
Total produced 2.703 million barrels of oil equivalent per day (boe / d) in the first quarter, driven by ramp - ups and new acquisitions, up more than 5 percent compared to the same period in 2017, and above analysts» estimates of 2.663 million boe / d.
Production rose 8.3 percent to 11.4 million barrels of oil equivalent per day.
It maintained 2018 investments at $ 15 - $ 17 billion, with an operating expense target of $ 5.5 per barrel of oil equivalent.
Aleida Rios is responsible for the safe, reliable and compliant operations on BP's four offshore platforms in the deepwater gulf, which produce 250,000 barrels of oil equivalent per day.
Encana reported first - quarter production of 324,400 barrels of oil equivalent per day, with 145,200 barrels per day of more valuable oil and natural gas liquids and the rest dry natural gas.
In an update to the ASX this week, Calima pointed out that testing of Painted Pony's first well in the Beg Block, just 40kms south of Calima's acreage, had averaged more than 2,000 barrels of oil equivalent per day.
«We are well - positioned to execute another year of strong growth for Encana as we prepare to cross the 400,000 boe (barrels of oil equivalent) per day milestone later this year,» said Doug Suttles on a conference call.
COPENHAGEN, Oct 9 - Danish oil and shipping group A.P. Moller - Maersk said on Tuesday Maersk Oil was targeting an entitlement oil production level above 400,000 barrels of oil equivalent per day by 2020..
Cenovus reported total production of 555,000 barrels of oil equivalent per day in the fourth quarter, up from 283,000 boe / d in the same period last year, as oilsands production rose to 361,000 bpd from 164,000 bpd.
Between 2005 and 2030, total U.S. oil output will double from less than 15 million barrels of oil equivalent a day to over 31 million.
- km patch stretching from B.C. to Alberta that the National Energy Board has estimated contains 90 billion barrels of oil equivalent, mostly natural gas, and could comprise more than half of the country's natural gas production by 2040.
BG, which will report full - year results on Feb. 5, said it expected 2015 production volumes to have hit 704,000 barrels of oil equivalent per day (boepd), above its previous forecast of 680 - 700,000 boed, due to new fields that have come on stream in Australia, Brazil and Norway.
Alberta - based Gear Energy Ltd pumps about 7,500 barrels of oil equivalent per day, and recently had an Asian customer walk away from an agreement to buy crude after failing to secure a way to ship oil to the West Coast.
Canadian Natural production averaged a record 1.02 million barrels of oil equivalent per day in the fourth quarter, a 19 per cent increase from the year - earlier period, as it ramped up the latest expansion of its Horizon oilsands mining and upgrading project.
Production rose to 1.867 million barrels of oil equivalent a day, with oil prices up 8 percent year - on - year.
Drilling began six years ago, and by 2015, production averaged just over 60,000 barrels of oil equivalent per day (BOE / D).
It reported production of 178,400 barrels of oil equivalent per day, up from 173,300 boe / d in the same period of last year.