" />
Building a world of
resilient communities.

MAIN LIST

 

ODAC Newsletter - Sep 2

Welcome to the ODAC Newsletter, a weekly roundup from the Oil Depletion Analysis Centre, the UK registered charity dedicated to raising awareness of peak oil.

BP's recovery plans following last year's Deepwater Horizon disaster took a double blow this week. On Tuesday Exxon Mobil and Rosneft announced a deal to develop oil and gas reserves in the Russian Arctic — a version of the very deal that BP thought it had in the bag back in January. Then on Wednesday, to add insult to injury, BP's Moscow offices were raided by bailiffs gathering evidence for an investor who is suing BP for damages over the collapse of the January deal. All this will surely weaken CEO Bob Dudley's position with shareholders.

While Russian Prime Minister Vladimir Putin enthused over the Rosneft deal, President Medvedev was becoming increasingly embroiled in an escalating row with Russia's neighbour, the Ukraine. Ukrainian negotiators are pushing Russia to revise the terms of a gas supply contract signed following the 2009 dispute, when Russia cut supplies to Ukraine - and Europe - in the depths of winter. Russia has tied revision of the deal to a regional customs union which would keep Ukraine out of Europe.

So it's no surprise that Ukraine — like Poland — is eyeing the chance to loosen its energy ties to Russia by exploiting what could be large reserves of shale gas, signing its first exploration deal with Royal Dutch Shell this week. International oil companies struggling to replace their oil reserves are equally keen. And for the oil majors hoping to set off a shale gas boom in Europe, the Ukraine and Poland may be seen as easier to negotiate in terms of environmental regulations and protest than some of Western Europe — though so far UK regulators appear to be taking a lamentably laissez-faire approach.

Clearly it is in the interests of energy companies to assert the importance of shale, but estimates of how much gas is really available are proving highly controversial. The US Energy Information Administration (EIA) has been forced to downgrade its resource estimate for the key Marcellus shale region in the northeast US by a whopping 80%, after a new assessment by the US Geological Survey released last week. This surely casts doubt on the US EIA's resource assessment for shale in the UK, where the Administration estimates recoverable resources of 560 billion cubic meters — about 6 years' of current UK consumption. The British Geological Survey, however, reckons we have only 150 billion cubic meters, or about 18 months' worth — surely marginal, given the evident risks. So much for the new paradigm.

View our Reports and Resources page

Oil

ExxonMobil clinches Arctic oil deal with Rosneft

Back to top

BP Russian offices raided a day after Rosneft-Exxon deal

Back to top

Has Peak Oil Come To The Non-Opec World? Maybe.

Back to top

Asia's oil price threshold is critical

Back to top

Oil Drops Before U.S. Jobs Data; Gulf of Mexico Rigs Shut as Storm Builds

Back to top

OPEC oil output set to hit three-year high in August

Back to top

BP can be sued for punitive Gulf spill damages

Back to top

U.S. Offers Key Support to Canadian Pipeline

Back to top

Gas

Ukraine issues Russian gas deal ultimatum

Back to top

Ukraine awards first shale gas contract to Shell

Back to top

The UK's lack of fracking regulation is insane

Back to top

Big oil companies may have to give up Iraq gas

Back to top

Nuclear

Germany Dims Nuclear Plants, but Hopes to Keep Lights On

Back to top

Nuclear train route to Sellafield runs into opposition from local councils

Back to top

WikiLeaks cables reveal fears over China's nuclear safety

Back to top

Renewables

Solar May Produce Most of World's Power by 2060, IEA Says

Back to top

China to crank up 2015 renewable target

Back to top

Japanese government passes feed-in tariff bill

Back to top

New power wave heads out to sea

Back to top

Climate

Romney falls into line with Republican climate scepticism

Back to top

US breaks ground on first industrial-scale carbon capture project

Back to top

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Make connections via our GROUPS page.
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.


Could BC Become a 100% Renewable Energy Region?: Trucking, Ships and Planes

How can we switch BC’s freight transportation from diesel and gasoline …

Peak oil notes - Aug 21

 A mid-week update. After falling for two days, oil prices …

A New Frontier for Fracking: Drilling Near the Arctic Circle

Hydraulic fracturing is about to move into the Canadian Arctic, with …

The Shale Sugar Lick

A well known American comedian, Ron White, quips about the amount of sugar …

Peak Oil Review - Aug 18

A weekly review including: Oil and the Global Economy, The Middle East & …

IEA report implies US crude production may start to peak 2016

When it becomes apparent that US tight (shale) oil has peaked, there will be …

Peak mileage and the diminishing returns of technology

In the US; people are driving less. Perhaps there are behavioral factors …