Emissions must fall 60% in 9 years & the IEA says zero new oil & gas projects for a hope of even ‘net’ zero. So it would be reasonable to assume laws are being passed to end exploration right? In fact, the world is on an oil & gas binge. A shocking, terrifying, revolutionary 🧵
US: Drilling in Alaska; record offshore oil and gas exploration, extracting 17m barrels a day, $323bn to be spent in 4 years (expenditure on climate under Biden’s infrastructure plan is $36bn)
offshore-mag.com/drilling-compl…
offshore-mag.com/drilling-compl…
UK: recently granted 113 licences over 259 drilling blocks in the North Sea, two new platforms installed just last week
offshore-mag.com/regional-repor…
offshore-mag.com/regional-repor…
China: 19 new projects in 2021, increasing production 4% to record 545-555 million barrels of oil equivalent, targeting 640-650 million barrels of oil equivalent in 2023
spglobal.com/platts/en/mark…
spglobal.com/platts/en/mark…
Saudi Arabia: 4 new discoveries, record $140bn spend on oil and gas to 2025, 1.6m barrels a day in 2021
export.gov/apex/article2?…
export.gov/apex/article2?…
Abu Dhabi: New oil field producing 45,000 barrels a day starting 2023
offshore-mag.com/field-developm…
offshore-mag.com/field-developm…
Russia: just the 536 new oil and gas projects between now and 2025
offshore-technology.com/comment/russia…
offshore-technology.com/comment/russia…
Canada: the tar sands produce 3m barrels a day. Trudeau government just greenlit 3 new offshore sites off Newfoundland
nationalobserver.com/2021/01/13/new…
nationalobserver.com/2021/01/13/new…
Uganda: *423* new wells with drilling led by Chinese national oil and gas company. Oil coming on stream 2025.
energyvoice.com/oilandgas/afri…
energyvoice.com/oilandgas/afri…
Nigeria: 100 new oil and gas sites coming into production between 2021 and 2024, one site alone producing 650,000 barrels every day, starting next year
offshore-mag.com/regional-repor…
offshore-mag.com/regional-repor…
Japan: Heavy crude oil production began a few months ago from its 1 offshore rig
energy-pedia.com/news/japan/jap…
energy-pedia.com/news/japan/jap…
Australia: Around 500,000 barrels a day extracted, new discoveries come in all the time
offshore-energy.biz/beach-energy-i…
offshore-energy.biz/beach-energy-i…
New Zealand: new exploration in the waters off the poster child for progressive climate politics
nsenergybusiness.com/news/todd-expl…
nsenergybusiness.com/news/todd-expl…
Iran: 2.4 million barrels a day, up 400,000 barrels a day from April 2020. New discovery adds 2.2 billion barrels a day.
spglobal.com/platts/en/mark…
spglobal.com/platts/en/mark…
Indonesia: new discoveries, government extends exploration to find more to March 2022
offshore-mag.com/regional-repor…
offshore-mag.com/regional-repor…
South Africa: New 60 trillion cubic feet gas discoveries by Total could be “gamechangers.” Yep. Not in the way they think though.
businesstech.co.za/news/business-…
businesstech.co.za/news/business-…
Kazakhstan: new $850m plant to process oil from the Kashagan oil field which is targeting 500,000 barrels a day in 2027, up from 380,000 barrels a day now
neftegazru.com/news/politics/….
neftegazru.com/news/politics/….
More Brazil: 2.8m barrels a day, new discoveries in Jan, new sites coming on stream this year
spglobal.com/platts/en/mark…
spglobal.com/platts/en/mark…
Pakistan: recent new discoveries, gas extraction up 50% in one year, 2019-2020
ogj.com/exploration-de…
ogj.com/exploration-de…
There are more. So many more. The penny is going to have to drop sooner or later. Forget the Paris agreement, forget COP 26. There is no plan for zero emissions and there never has been
India: *647* new oil and gas projects between 2021 and 2025, $100bn+ spend
nsenergybusiness.com/news/india-oil…
nsenergybusiness.com/news/india-oil…
correction: new discovery adds 2.2bn overall barrels (2.2bn a day would be.....very bad)
worth noting that the same IEA that says no new oil and gas project can begin to achieve net zero is the same IEA that 2 days ago said producers must "open the taps" to satisfy oil demand that in 2022 will be at an all time high
spglobal.com/platts/en/mark…
spglobal.com/platts/en/mark…
Some have interpreted this thread to say "we are doomed." No, we are not. Radical, emergency, revolutionary action can limit the damage and maintain a decent future. But that will not happen with our current political-economic structures. How do we know? We've tried, it failed
Some more to add to the thread today. annual record of 16 wells to be drilled offshore Guyana this year
offshore-mag.com/drilling-compl…
offshore-mag.com/drilling-compl…
New Ghana discoveries raises barrels per day from one field to 15-20,000
offshore-mag.com/regional-repor…
offshore-mag.com/regional-repor…
Potentially “giant” gas deposit just discovered off the coast of Turkey
offshore-mag.com/drilling-compl…
offshore-mag.com/drilling-compl…
And back to the US and Canada. 603 oil and gas projects scheduled to begin in the next 3.5 years, 420 in the US, the rest in Canada. 80% are *new* builds.
offshore-technology.com/comment/us-upc…
offshore-technology.com/comment/us-upc…
Huge $3.6bn project off the coast of Darwin, Australia, gas coming on stream 2025
ogj.com/exploration-de…
ogj.com/exploration-de…
New offshore oil and gas projects to hit record high in next 3.5 years
offshore-mag.com/field-developm…
offshore-mag.com/field-developm…
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