Changing the game

Ten major oil and gas companies represent a fifth of global oil and gas supplies. They are members of the Oil and Gas Climate Initiative (OGCI), a voluntary, CEO-led initiative that aims to lead the industry response to climate change. In 2016, the OGCI announced a fund to reduce natural gas leaks and develop new…

The Oil & Gas Industry’s future is now

2016 began with the lowest oil prices in twelve years. Companies were forced to reduce labour costs, cutting 120,000 jobs and eliminating spending by 30%. To seek new revenue streams, the Oil & Gas Industry has needed to innovate and adopt new strategies. The digital revolution According to the World Economic Forum, a digital transformation…

Gas flaring: is there another way?

The extraction of highly flammable liquids and gases from the earth is a precise and potentially dangerous operation. Unplanned over-pressuring of plant equipment can occur during start-ups and shutdowns in production on oil and gas sites, when the volume of extracted gas is uncertain. Flares are used to burn off flammable gas, avoiding a significant…

Oil and gas nations: Venezuela

In the third part of our blog series ‘oil and gas nations’, we explore the history and position of Venezuela in the wider Oil & Gas Industry. In 2011, Venezuela surpassed the Kingdom of Saudi Arabia as the world’s leader in oil reserves. Today it is the ninth largest exporter of oil and a founding…

Natural gas – an inevitable boom?

The world’s major oil companies – under pressure from faltering demand for oil and coal – are investing heavily in natural gas. Since 2008 in the US, natural gas supplies have increased by 35 per cent, while prices plummeted more than 60 per cent over the same period. The lesser of three evils Historically, natural…

US Greenhouse Gas Emissions: 2016

This week, the US Environmental Protection Agency revealed the results of its 2016 Greenhouse Gas Reporting Program (GHGRP). The program collects annual greenhouse gas (GHG) information from the top-emitting sectors in the US economy, and is used to improve estimates of national GHG emissions. Industrial facilities including power plants, refineries, waste and petroleum and natural…

Oil and gas nations: Saudi Arabia

In the second part of our blog series ‘oil and gas nations’, we explore the history and position of Saudi Arabia in the wider Oil & Gas Industry. The Kingdom of Saudi Arabia has the second-largest proven oil reserves in the world. How did Saudi Arabia become the dominant player in the Oil & Gas…

The rise of Norway’s Oil & Gas Industry

In a new blog series ‘oil and gas nations’ we will explore the position of select countries in the wider Oil & Gas Industry. This week, Norway’s revenue from oil and gas reached US $1 trillion. The country (population five million) has generated significant wealth from innovative approaches towards oil and gas exploitation. A slow…

The end of an era?

UK oil and gas industries are reportedly entering the last decade of production, according to research conducted by the University of Edinburgh, Scotland. Dwindling reserves Oil and gas reserves now stand at 11% and 9% respectively. Analysis of hydrocarbon reserves showed discoveries consistently fell behind output levels since the industry’s peak in the late 1990s,…

The bigger picture

Through human activities such as burning fossil fuels, atmospheric CO2 concentration has increased by more than a third since the Industrial Revolution. The increase in the concentration of greenhouse gases is blocking heat from escaping Earth, “forcing” climate change. Approximately 36 per cent of US CO2 comes from burning coal, oil and gas to produce…