Latest Oil & Gas Developments

The O&G industry across the world is seeing some news and developments in recent times which may affect local and international developments regarding the usage of natural energy commodities.

According O&G news portal, Upstream Online:-

Shell's first Biomethane Facility opens in Oregon

Shell has officially started producing renewable natural gas (RNG) at its first biomethane facility in the US. The facility is located in Junction City, Oregon - and is the first of several similar biomethane production facilities planned in the US.

The facility uses cow manure and "excess agricultural residues" to produce 736,000 million British thermal units a year of RNG. Shell is developing RNG facilities at dairy farms in Kansas and Idaho as well, which will together produce about 900,000 million Btu of what is believed to be carbon negative RNG.

“Biomethane has a significant role to play in the energy transition, and this achievement advances our strategy as we work to reduce emissions from the fuels and other energy products we sell,” said Carlos Maurer, executive vice president of Sectors and Decarbonization at Shell.

Russia shows interest in "Greening" Gas Operations

Two oil and gas operators on the Sakhalin Island in the far east of Russia, ExxonMobil-led Exxon Neftegaz and Gazprom-led Sakhalin Energy, have voiced their support for a regional initiative to reach carbon neutrality by 2025, after a meeting with local authorities earlier this week.

Sakhalin authorities are moving forward with a plan, approved earlier this year by Moscow, to introduce regional carbon monitoring for companies with annual carbon dioxide emissions of 20,000 tonnes or more. Authorities are also planning to convert all public and commercial transportation and residential heating systems to electric and natural gas instead of diesel fuel, petrol and coal. The initiative also calls for establishing a regional platform to offset and exchange CO2 emissions and quotas.

According O&G news portal, Worldoil:-

OPEC foresees continued reliance on fossil fuels

OPEC sees oil demand continuing to grow to the middle of next decade, even as world leaders prepare for another attempt to avert catastrophic climate change.

Global fuel consumption will fully recover from its pandemic slump by 2023, and will keep growing until it hits a plateau shortly after 2035, the Organization of Petroleum Exporting Countries said in its latest long-term report.

“There are still considerable doubts as to whether all these ambitious climate-mitigation commitments will be met in the proposed timeframe,” the organization’s Vienna-based secretariat said. The group’s members include the biggest Middle East crude producers. OPEC’s World Oil Outlook, published on Tuesday, echoes comments from group leader Saudi Arabia earlier this year that hopes to reach net-zero carbon emissions by 2050 by While the report acknowledges that renewables are the fastest growing energy source, it projects they will account for just 10% of the world’s needs in 2045.