Sentences with phrase «recoverable oil reserves»

As recoverable oil reserves dwindle, there will be increasing pressure to convert coal to liquid fuels as well as exploit unconventional fossil fuels like methane hydrates, tar sands, and oil shale.

If test drilling revealed recoverable oil reserves, she says that a company would have to plunk down another $ 2 billion for an oil rig.

The IHS study says that the Permian still has a gargantuan 60 to 70 billion barrels of technically recoverable oil reserves.

That's bad news for an industry that's seen its access to the world's 1.34 trillion barrels of recoverable oil reserves shrink to about 20 % as governments from Russia to Venezuela progressively nationalize their oil industries.

Not exact matches

Reports suggest that this area could hold «recoverable reserves» of upwards of 48 billion barrels of oil and 141 trillion cubic feet of gas.

Last month, Oslo - based Rystad Energy shared a report that shows the U.S. as now having the world's largest reserve of recoverable oil, with 264 billion barrels in existing fields, unconventional shale and as - yet undiscovered areas.

«The Deepwater Horizon disaster has also focused attention on the oil sands» 170 - billion [barrels] of economically recoverable reserves,» said Peter Buchanan and Meny Grauman.

If you did that, I guarantee you that you would not see a 22 % difference between Canadian natural bitumen and Venezuelan extra heavy oil, and you'd be adding a strong incentive to reduce emissions for 434 billion barrels of recoverable reserves of extra heavy oil.

You are citing hypothetical «oil in place» and pretending it's the same as recoverable reserves.

(Some other estimates, e.g. Nehring (2009), put the amount of ultimately recoverable oil in known reserves about 50 % higher).

[Response: The point of that quote was not to say that all 1.7 trillion barrels should be added to economically recoverable reserves right now, but to just point out the pace of extraction technology, so taking the stance that they'll never be able to get all that oil out anyway is not a very sound position.

There is a raging battle today about the size of fossil fuel reserves and resources, with «peakists» claiming that we are already at or near peak production of both oil and coal because the amounts of economically recoverable fuels in the ground are more limited than the fossil fuel industry has admitted.

Proved reserves of oil and natural gas are volumes that geologic and engineering data demonstrate with reasonable certainty to be recoverable under existing economic and operating conditions.

While natural gas reserves reached another record in 2014 and oil reserves were the highest since 1972, the technically recoverable resources from which they came are enormous and will continue to supply proved reserves for Americans for decades to come.

[iii] According to the EIA report, the United States has recoverable oil resources that are 36 times larger than its proved oil reserves and recoverable natural gas resources that are 7 times larger than its proved natural gas reserves for 2014.

Slaughter estimated U.S. technically recoverable, economically feasible tight oil reserves at more than 40 billion barrels:

Many oil and gas companies have restricted their climate analyses to proven reserves — volumes of oil and gas that are currently economically recoverable with a high degree of confidence.

ENERGY OVERVIEW Energy Minister: Ernesto Martens Rebolledo Head of PEMEX: Raul Munoz Leos Proven Oil Reserves (1 / 1 / 03E): 12.6 billion barrels (see Reserves and Production) Oil Production (2002E): 3.6 million barrels per day (bbl / d), of which 3.18 million bbl / d was crude Oil Consumption (2002E): 1.93 million bbl / d Net Oil Exports (2002E): 1.68 million bbl / d Crude Oil Refining Capacity (1 / 1 / 03E): 1.7 million bbl / d Natural Gas Reserves (1 / 1 / 03E): 8.8 trillion cubic feet (Tcf)(see Reserves and Production) Natural Gas Production (2000E): 1.33 Tcf Natural Gas Consumption (2000E): 1.38 Tcf Recoverable Coal Reserves (2000E): 1.3 billion short tons Coal Production (2000E): 10.86 million short tons Coal Consumption (2000E): 13.41 million short tons Net Coal Imports (2000E): 2.55 million short tons Electric Generation Capacity (2000E): 38.9 million kilowatts Net Electricity Generation (2000E): 194.37 billion kilowatthours (bkwh); 74 % thermal, 18 % hydro, 5 % nuclear, 3 % other Net Electricity Consumption (2000E): 182.8 bkwh Net Electricity Imports (2000E): 2.07 bkwh

And reserves usually expand over time as technology develops, otherwise the world would have run out of recoverable oil long ago.

Access to the world's largest remaining conventional, undiscovered oil and natural gas reserves — 13 percent of recoverable oil and 30 percent of recoverable natural gas resources — is at stake.

Vast quantities of coal — proven to exist — remain in the ground — but not included on the reserve tally because they are not economically recoverable at current prices — in part due to the availability of oil and natural gas.

Today's paper compares this allowable carbon budget with scientists» best estimate of how much oil, gas and coal exist worldwide in economically recoverable form, known as «reserves».