LONDON, June 27 (Reuters) – The success of the shale
revolution will be slow to replicate outside the United States
because of limited access to drilling equipment and skilled
personnel, according to influential oil analyst Leonardo
Maugeri has produced a thoughtful assessment of the U.S. oil
industry. But he is too pessimistic about the potential for
shale production in the rest of the world and its role in
restraining medium-term and long-term oil prices.
GENEVA, June 26 (Reuters) – Shale has revolutionised oil and
gas supply and the global political balance in less than five
years, transforming the narrative from one about “peak energy”
into a story about managing abundance.
The revolution stems from the application of two mature
technologies (horizontal drilling and hydraulic fracturing) in a
new context to unlock oil and gas from well known rock
formations that were previously impossible to tap because of
their low permeability.
LONDON, June 24 (Reuters) – Shale has killed climate policy.
Now the International Energy Agency is trying to bring it back
Following the shale revolution, policymakers can no longer
count on peaking oil and gas supplies and soaring fuel prices to
save the world from potentially catastrophic climate change.
LONDON, June 20 (Reuters) – By the end of 2015, more than 70
million smart electricity meters will have been installed across
the United States.
Britain, Australia and other countries have also embraced
the concept of a smart grid, with smart metering at its core,
though the rollout of the actual meters is further behind.
LONDON, June 18 (Reuters) – U.S. refiners’ efforts to boost
output of diesel and other middle distillates, now the most
profitable products from oil refining, are being complicated by
soaring production of shale crudes.
In 2012 distillate fuel oil accounted for a record 29
percent of output from U.S. refineries, up from less than 22
percent in 1993.
LONDON, June 17 (Reuters) – Even without a relaxation of the
ban on U.S. crude oil exports, the ripples of the shale
revolution have already reached Asia.
Nowhere is that more obvious than in changes it has forced
in the official selling prices Saudi Arabia charges to its
LONDON, June 13 (Reuters) – Britain’s shale gas industry
remains more of a concept than reality. But Centrica’s decision
to buy a stake in one of the most promising tracts provides the
capital, technical expertise and political muscle to move to the
next stage of development.
Centrica announced Thursday that it has bought a 25
percent stake in Petroleum Exploration and Development Licence
(PEDL) 165 which covers the Bowland shale in Lancashire, from
Cuadrilla Resources and AJ Lucas.
LONDON, June 12 (Reuters) – Shale gas supporters say it can
cut greenhouse emissions by replacing dirtier fuels such as
coal, but critics warn it is worsening climate change due to
methane leaks from shale wells.
Because methane is so much more potent than carbon dioxide as
a greenhouse gas, even small emissions can have a huge impact.
Depending on the time horizon, 1 tonne of methane has the same
global warming potential as 25-72 tonnes of carbon dioxide,
according to the Intergovernmental Panel on Climate Change.
LONDON, June 11 (Reuters) – The shale revolution is likely
to have a far bigger effect on the global gas market than on oil
supplies, entrenching the long-term price advantage of gas,
according to new data from the Energy Information Administration
Shale will extend recoverable oil resources by only 11
percent but boost recoverable gas resources by 47 percent,
according to the agency’s report on “Technically recoverable
shale oil and gas resources: an assessment of 137 shale
formations in 41 countries outside the United States”.
LONDON, June 10 (Reuters) – Lack of specialist equipment and
skilled personnel have been the biggest barriers to raising the
supply of oil over the last decade, contributing to the steady
escalation in prices.
Exploration and production (E&P) activities have been hit by
shortages of everything from drilling rigs and pressure pumping
equipment to the guar gum used for hydraulic fracturing,
experienced geologists and drill team leaders.