THE BIGGEST U.S. OIL
According to REUTERS, the United States holds more recoverable oil reserves than Saudi Arabia and Russia thanks in large part to its shale oil, Norwegian consultancy Rystad Energy said in a report.
The United States currently holds an estimated 264 billion of barrels of reserves in existing fields, discoveries and yet to be discovered fields, according to Rystad.
That compares with 256 billion barrels for Russia and 212 billion barrels for Saudi Arabia.
For the U.S. more than 50 percent of remaining oil reserves are unconventional shale oil with Texas alone holding more than 60 billion barrels of shale oil according to the data.
Rystad Energy estimated total global oil reserves at 2092 billion barrels, or 70 times the current production rate of about 30 billion barrels of crude oil per year.
Unconventional oil recovery accounts for 30 percent of the global recoverable oil reserves while offshore production accounts for 33 percent of the total.
|November, 12, 12:30:00|
|November, 12, 12:25:00|
|November, 12, 12:20:00|
|November, 12, 12:15:00|
|November, 12, 12:10:00|
|November, 12, 12:05:00|
THE LOCAL FRANCE - Angola and French oil giant Total formally launched a major new offshore oil project Saturday to aid the country's economy that plunged into crisis following oil price dips in 2014.
WNN - China's State Power Investment Corporation (SPIC) says it has signed a memorandum of understanding (MoU) for "global cooperation" in nuclear energy with Westinghouse Electric Company of the USA.
WNN - Advanced Nuclear Technologies - otherwise known as small nuclear or small reactor technologies - encompass a wide range of nuclear reactor technologies under development, BEIS noted. "The common attributes that these technologies share is that they are smaller than conventional nuclear power station reactors and are designed so that much of the plant can be fabricated in a factory environment and transported to site, reducing construction risk and making them less capital-intensive," it said.
WNN - Poland and the USA have signed a Joint Declaration of Energy Security, which emphasises the expansion of their cooperation in a variety of areas, including civil nuclear energy. The document was signed in Warsaw yesterday by Polish Energy Minister Krzysztof Tchórzewski and US Secretary of Energy Rick Perry.