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ENI on Reserves
“Rigzone reports that ENI (Ente Nazionale Idrocarburi) has just issued its 15’th World Oil and Gas Review. According to the Italian super major oil company, global oil reserves increased in 2015 while gas reserves declined. Also, the report found that oil production during 2015 increased by 2.9% to a new record high. Most of this… Read More
IEA’s View
Apparently, the International Energy Agency’s (IEA) forecast for oil prices depends on how far you look into the future. According to a recent article in “World Oil”, Fatih Birol, the agency’s executive director, sees the answer differently depending on timing. Oil prices responded favorably after the OPEC meeting on September 28, when producing nations agreed… Read More
Produced Water Treatment
Whether offshore or onshore, oil and gas are often found in areas where there is a shortage of fresh water. The use of fresh water for drilling and fracking fluids only aggravates the shortage. Further, oil and gas are typically produced with formation brine, and fracking results in flowback water, both of which need treatment… Read More
Freeze Predicted
“World Oil” reports that Gary Ross, with PIRA Energy Group, predicts that OPEC will agree to a production freeze. He contends that failing to do so would risk the cartel becoming irrelevant. While it would be easy to dismiss Ross’ forecast as overly optimistic, it should be remembered that he is one of the analyst… Read More
Politics and Technology
Legendary oil investor, Boone Pickens, and Harold Hamm, the Chairman of Continental Natural Resources, were the key energy advisors to Donald Trump during the presidential campaign. Accordingly, many industry observers expected the Republican’s victory to result in more projects and development of technology. However, a recent article in “Rigzone” contends that there would have been… Read More
