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Total Tally For Fukushima Decommission Is $75 Billion

March 31, 2018
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The decommissioning of the Fukushima nuclear power plant will cost an annual US$2 billion (220 billion yen) until 2021, an unnamed source told the Japan Times. Half of the money will be used to tackle the radioactive water buildup at the site of the plant and for removing radioactive fuel from the fuel pools. A small amount of funds will

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World’s Most Indebted Oil Company Makes Major Hedge

March 31, 2018
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In February and March, Brazil’s state-controlled oil firm Petrobras hedged 128 million barrels of its expected 2018 production —equal to around 15 percent of total production—at an average price of $65 per barrel, to protect part of its operating cash flow generation this year. The hedge puts a floor under around 350,000 bpd of Petrobras’s oil production this year, or

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The U.S. Faces A Pipeline Crisis

March 31, 2018
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The U.S. threatens to swamp the world with oil in the next few years, although that will only be possible if there is a commensurate construction boom for pipelines to move all of that oil to market. The Permian basin will account for the bulk of the production growth going forward. The International Energy Agency predicts that the

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Big Oil Expresses Interest In 11 Iraqi Oil & Gas Fields

March 31, 2018
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Sixteen companies—including Big Oil’s Exxon, Chevron, and Total—have expressed interest in taking part in Iraq’s bidding round on April 15, which will award the rights to develop 11 oil and gas fields in OPEC’s second-biggest producer who is looking to grow its production capacity. Apart from Exxon, Chevron, and Total, the other interested bidders are Eni, Lukoil, Gazprom, Zarubezhneft, Petroliam

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Augmented Reality Is A Game Changer For Oil Gas

March 31, 2018
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Oilprice.com – Mar 28, 2018, 6:00 PM CDT Augmented reality and virtual reality technology is expanding beyond gaming and beyond chasing and catching Pokemon. Now, it’s hit the oil industry and aims to save it money. The oil and gas industry has started using AR to fix and maintain equipment at oil and gas facilities, cutting downtime and costs

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Oil Majors Should Invest In Deepwater Drilling

March 31, 2018
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Oilprice.com – Mar 29, 2018, 4:00 PM CDT Following a record year for production, deepwater drilling may be bound for another round of investment. All the oil and gas exploration financed in the decade of high prices that culminated in 2009’s $100 per barrel prices, has come into production or is soon to come online. From here, without further investment,

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