Even with modern production techniques, a large share of the oil in a reservoir is not produced during primary and secondary recovery (read a description of EOR on our new CCUS page or in the explainer below). Some of this oil can, however, be accessed through the use of more complex and energy intensive extraction techniques such as the injection of heat, chemicals, CO2 or other gases. These techniques have been successfully and commercially deployed in multiple countries over many decades.
OSLO and COPENHAGEN – Dr Fatih Birol, the Executive Director of the International Energy Agency, visited Norway and Denmark to present the latest findings from the World Energy Outlook, highlight the IEA’s emphasis on carbon capture, utilization and storage, and discuss the state of the global energy system.
The International Energy Agency on Wednesday held a meeting of the IEA Energy Business Council, which brings together representatives of the world’s largest energy companies, to discuss the state of the global energy system.
A week away from the release of the European Commission’s 2050 “Long-Term Strategy” for emissions reduction, three Brussels based organisations, Eurofuel, ECFD and UPEI – jointly with their respective German members – presented and debated the results of the Prognos Study “Status and Perspectives for Liquid Energy Sources in the Energy Transition”. The Prognos Study was commissioned by the four organisations representing the mineral oil sector in Germany. Whilst the study focussed on an analysis of the German market, the findings can be extrapolated on an EU wide level. The event was held on 21 November 2018 in Brussels and gathered experts and professionals from the transport and heating fuels sector.
A new study carried out by Prognos AG is looking into the status and perspectives of liquid energy sources and their possible contribution to the energy transition. Join us for a presentation of this study and a debate with renowned experts from institutions, industry, civil society organisations and the academic world about Europe’s future energy supply and the perspectives for liquid energy sources.
The new IEA World Energy Outlook (WEO) was released on 13 November and in this webinar you can hear about the key findings from two of the Outlook’s lead authors, Tim Gould and Brent Wanner.
In early October, the price of Brent crude oil reached a four-year high above $86/bbl, reflecting the legitimate fears of market tightness. In our view, this was a dangerous “red zone” and it justified calls for producers to raise output. Today, the price has fallen to a more reasonable level close to $70/bbl, well below where it was in May before the US announced its change of policy on Iran. Lower prices are clearly a benefit to consumers, especially hard-pressed ones in developing countries that are suffering from the additional handicap of weak national currencies. For now, forecasts of oil demand growth remain solid with an increase of 1.3 mb/d this year and an increase to 1.4 mb/d in 2019, even though the macro-economic outlook is uncertain.
Brussels, 12 November 2018: Europe needs an open legislative framework where all solutions contributing to the decarbonization of the transport sector and achieving air quality goals can be assessed on fair terms.
To reach the 2030 targets currently under discussion, engine and vehicle technologies, in combination with low carbon and renewable gaseous fuels, will still have to play an important role in the heavy-duty sector. But the current CO2 tailpipe emissions methodology has to be complemented to consider the contribution from advanced bio and renewable gas.
Natural and renewable gas is an available fuel solution that is ready to play its role today. Renewable gas production is already standard practice, and its availability and vehicle fleet is growing fast.
Therefore, just before the European Parliament’s final vote on the regulation setting CO2 emissions standard for new heavy-duty vehicles, NGVA Europe urges for the inclusion of a new complementary approach.
Euro area headline inflation is currently dominated by a strong contribution from energy prices. In the third quarter of 2018, energy prices contributed 0.9 percentage point to the headline HICP inflation rate of around 2.0%, thus accounting for almost half.