The CNOOC, China National Offshore Oil Corporation, has made a significant gas discovery in the central North Sea. The CNOOC, joined by Joint Venture (JV) partners Total and Edison, estimate the find to potentially 250 million barrels of oil. Glengorm, potentially the biggest find since 2008, sits 118 miles east of Aberdeen, Scotland close to existing fields the Culzean project and Elgin-Franklin platform. “Our strong position in the region will enable us to leverage existing infrastructures nearby and optimise the development of this discovery. Glengorm is an achievement that demonstrates our capacity to create value in a mature environment thanks to our in-depth understanding of the basin.”
During the lengthiest government shutdown in United States history, prioritizing fossil fuel development continues to take precedence for the Trump Administration. An estimated 800,000 federal workers went without paychecks however the administration has still found ways of moving forward for “energy dominance.”
Earlier this week, oil and gas industry supporters lined the streets of Calgary outside of city hall in support of government action. The oil industry is costing the province of Alberta and Canada an estimated $80 million a day because of too much production and not enough pipeline. With the looming provincial and federal election, Premier Rachel Notley and Prime Minister Justin Trudeau are feeling the heat.
Wood Mackenzie (WoodMac), a global energy, chemicals, renewables, metals and mining researching and consulting firm, states companies need to raise investment into new production by 20%. Oil and gas companies need to increase annual investment before a supply demand in 2025. The investment could reach about $600 billion to ensure companies sustain production and growth for impending demand.
One third of all food produced around the world gets discarded uneaten, and environmentalists, energy analysts and entrepreneurs are beginning to take notice. With the untapped potential for generating energy, researchers have begun to notice food waste as a way of powering vehicles. Waste-to-energy (WTE) is quickly becoming one of the fastest growing segments of the energy sector. Navigant Research, which produced the 2012 report “Waste-to-Energy Technology Markets, which analyzes the global market opportunity for WTE, expects waste-to-energy to grow from its current market size of $6.2 billion to $29.2 billion by 2022."