News of the Day:
Exploration’s future in a low-cost, low-carbon world
Andrew Lathan & Adam Wilson, Wood Mackenzie, July 1, 2020
The world will rely on oil and gas for much of its energy needs until well beyond 2040. Exploration will be critical in meeting this future demand. Yet exploration is widely perceived as discretionary, even unwarranted. Read on to learn more about exploration’s surprising role in a low carbon future.
What tables and charts are inside this report?
- Oil and gas supply and demand scenarios to 2040
- Advantaged resources versus demand showing traditional order of supply ranking subverted
- Point-forward costs of oil and gas supply by development status
OIL & GAS
Thumbs Up:
Supreme Court reinstates use of Nationwide Permit No. 12
US signs order for first West Coast gas-export terminal
Pipeline completion to boost gas exports to Mexico
Thumbs Down:
Pipeline order puts the Bakken’s future in the balance
Court orders Dakota pipeline shut in latest blow to U.S. fossil fuel projects
Oilfield service job losses near 90,000, data shows
MINING
Monster rally adds $250 billion to global top 50 mining companies
Frik Els, Mining.Com, July 6, 2020
MINING.COM’s ranking of the world’s 50 largest mining companies based on market value shows an industry clawing back most of the covid-19 related losses by the end of the second quarter. The Top 50 most valuable mining companies added $249.5 billion in market capitalization over the three months to end June, thanks to surging gold and silver prices, iron ore prices in triple digits, and a late recovery in the copper market.
POLITICS
Alaska economy on ballot
Tom Brennan, Frontiersman, July 3, 2020
We Alaskans have a lot at stake in the November election. The U.S. Interior Department is looking favorably at new drilling in untouched areas of the National Petroleum Reserve-Alaska. Department officials recently approved a final environmental impact statement on opening seven million acres of the reserve to new oil exploration. About 11.6 million acres of the 23-million-acre reserve are already open to drilling. The new acreage under consideration is a very promising block west of the state lands already producing oil, the older drilling fields of Prudhoe Bay, Kuparuk, Alpine and others. If the new NPRA acreage is opened to drilling, this state could probably look forward to years of active exploration and development in an oil-rich reserve that was set aside for petroleum development. That would have a very positive impact on our economy for a long time to come.