I will believe the Saudis don't see any upcoming problems with Ghawar when they cancel one of their projects due to low oil prices. If they continue to be full steam ahead with increasing their capacity then I think they are aware that Ghawar may not be as robust in 5 years time as they would like us to believe.
Petrobras, as the company is known, Mitsui and Oil Shale Exploration Co., based in Vernal, Utah, will study the development of more than 30,000 acres (12,140 hectares) of leases containing an estimated 2.7 billion barrels of recoverable shale oil, according to statements from the companies today.
[...]
Petrobras's oil-shale extraction process uses low temperatures, has no moving parts and produces far lower carbon emissions than making oil from other alternative sources such as coal, he said. Water isn't needed to operate or cool the process; it is a byproduct of their system, said Demarco Epifanio, the Petrobras International Unit executive responsible for the project.
``I have no doubt this will be a success,'' he said. ``Everyone else is selling an idea while we have a project that works.''
Expanding Output
Petrobras, which has been producing oil from shale commercially for 30 years in Brazil's Parana state, is seeking to expand oil output in the U.S. and other markets and to use its patented Petrosix processing technology to diversify the sources of oil, according to the statement.
The company only produces about 3,800 barrels of oil a day using its process in Brazil. If it's proven viable, the Utah project, which will receive $12 million for studies over the next 12 months, can produce much more, Epifanio said.
``Petrobras never does anything small,'' he said. ``In Brazil we developed this 30 years ago out of necessity. We didn't have many other sources of oil, but we have been developing and perfecting the technology since then and are looking for projects that would allow us to use it on a larger scale.''
Joined: Apr 12, 2007 Posts: 1184 Location: Central NC
Posted: Mon Jun 09, 2008 7:06 pm Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
Quote from above article:
"The company only produces about 3,800 barrels of oil a day using its process in Brazil. If it's proven viable, the Utah project, which will receive $12 million for studies over the next 12 months, can produce much more, Epifanio said. "
And that is after 30 years of working with oil shale according to the article. So what is $12 million going to do? Double it to 7,600 b/d?
Joined: Mar 26, 2008 Posts: 1358 Location: Seattle
Posted: Mon Jun 09, 2008 7:14 pm Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
Homesteader wrote:
Quote from above article:
"The company only produces about 3,800 barrels of oil a day using its process in Brazil. If it's proven viable, the Utah project, which will receive $12 million for studies over the next 12 months, can produce much more, Epifanio said. "
And that is after 30 years of working with oil shale according to the article. So what is $12 million going to do? Double it to 7,600 b/d?
Whoopeee!
Since you seem to have stopped reading after that:
Quote:
Expansion of shale-oil output in Brazil has been limited by cheaper sources of oil from the country's offshore fields. Petrobras refines kerosene, fuel oil, cooking gas, and naphtha, a raw material for plastics production from shale in Brazil.
The $12 million is just for R&D. _________________ Abundance - what a concept!
Joined: Apr 12, 2007 Posts: 1184 Location: Central NC
Posted: Mon Jun 09, 2008 7:30 pm Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
OilFinder2 wrote:
Homesteader wrote:
Quote from above article:
"The company only produces about 3,800 barrels of oil a day using its process in Brazil. If it's proven viable, the Utah project, which will receive $12 million for studies over the next 12 months, can produce much more, Epifanio said. "
And that is after 30 years of working with oil shale according to the article. So what is $12 million going to do? Double it to 7,600 b/d?
Whoopeee!
Since you seem to have stopped reading after that:
Quote:
Expansion of shale-oil output in Brazil has been limited by cheaper sources of oil from the country's offshore fields. Petrobras refines kerosene, fuel oil, cooking gas, and naphtha, a raw material for plastics production from shale in Brazil.
The $12 million is just for R&D.
Yup, if the price of a barrel of oil just goes up another $10 bucks then oil shale will be profitable. . . .that line has been making the rounds for as long as they have been working with oil shale.
By the way what does the price of gold have to go up to to make producing it from lead profitable?
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Mon Jun 09, 2008 7:42 pm Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
Doesn't anyone else think it strange that Petrobras would go looking for oil in oil shale when OF2 told us they already found a lot of oil down, way down under the sand on the ocean floor? _________________ It's already over, now it's just a matter of adjusting.
Joined: Apr 12, 2007 Posts: 1184 Location: Central NC
Posted: Mon Jun 09, 2008 7:54 pm Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
DantesPeak wrote:
Doesn't anyone else think it strange that Petrobras would go looking for oil in oil shale when OF2 told us they already found a lot of oil down, way down under the sand on the ocean floor?
Yeah, that to!
Saudis investing in Canadian tar sands, Petrobras in Utah oil shale. . . but no worries, both nations internal production is all set to skyrocket.
Joined: Mar 26, 2008 Posts: 1358 Location: Seattle
Posted: Mon Jun 09, 2008 9:19 pm Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
DantesPeak wrote:
Doesn't anyone else think it strange that Petrobras would go looking for oil in oil shale when OF2 told us they already found a lot of oil down, way down under the sand on the ocean floor?
What - are you crazy? That's like asking why Mercedes would want to sell cars in the US, when they've got plenty of business in Europe.
$$$$$$$$ _________________ Abundance - what a concept!
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Mon Jun 09, 2008 9:21 pm Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
OilFinder2 wrote:
DantesPeak wrote:
Doesn't anyone else think it strange that Petrobras would go looking for oil in oil shale when OF2 told us they already found a lot of oil down, way down under the sand on the ocean floor?
What - are you crazy? That's like asking why Mercedes would want to sell cars in the US, when they've got plenty of business in Europe.
$$$$$$$$
No, its like asking why Mercedes would want to sell Schwin bicycles in the US. _________________ It's already over, now it's just a matter of adjusting.
Joined: Mar 26, 2008 Posts: 1358 Location: Seattle
Posted: Mon Jun 09, 2008 9:25 pm Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
DantesPeak wrote:
No, its like asking why Mercedes would want to sell Schwin bicycles in the US.
Except that Mercedes doesn't even make Schwinn bicycles. They make cars. Petrobras, on the other hand, can make the same product (oil) either in Brazil or the US, if they want to. And obviously, they want to.
Sorry, try another analogy. _________________ Abundance - what a concept!
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Mon Jun 09, 2008 9:28 pm Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
OilFinder2 wrote:
DantesPeak wrote:
No, its like asking why Mercedes would want to sell Schwin bicycles in the US.
Except that Mercedes doesn't even make Schwinn bicycles. They make cars. Petrobras, on the other hand, can make the same product (oil) either in Brazil or the US, if they want to. And obviously, they want to.
Sorry, try another analogy.
I'm sorry I can't reduce the serious problems we face post-PO into some jovial punch line like you and your ilk do. _________________ It's already over, now it's just a matter of adjusting.
Joined: Feb 20, 2005 Posts: 2877 Location: Uppsala, Sweden
Posted: Mon Jun 09, 2008 10:14 pm Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
DantesPeak wrote:
OilFinder2 wrote:
DantesPeak wrote:
No, its like asking why Mercedes would want to sell Schwin bicycles in the US.
Except that Mercedes doesn't even make Schwinn bicycles. They make cars. Petrobras, on the other hand, can make the same product (oil) either in Brazil or the US, if they want to. And obviously, they want to.
Sorry, try another analogy.
I'm sorry I can't reduce the serious problems we face post-PO into some jovial punch line like you and your ilk do.
Neither can you absorb a simple lesson in how transational companies work, it seems. _________________ Peak oil is not an energy crisis. It is a liquid fuel crisis.
Posted: Tue Jun 10, 2008 3:02 am Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
So they are going to need to spend $250 billion chasing real oil of the Brazilian coast but are investing $12 million in shale oil. $12 million is not even peanuts. However I am sure there will be some tax or other legal benefit, even if the process is loss making.
Petrobras, as the company is known, Mitsui and Oil Shale Exploration Co., based in Vernal, Utah, will study the development of more than 30,000 acres (12,140 hectares) of leases containing an estimated 2.7 billion barrels of recoverable shale oil, according to statements from the companies today.
[...]
Petrobras's oil-shale extraction process uses low temperatures, has no moving parts and produces far lower carbon emissions than making oil from other alternative sources such as coal, he said. Water isn't needed to operate or cool the process; it is a byproduct of their system, said Demarco Epifanio, the Petrobras International Unit executive responsible for the project.
``I have no doubt this will be a success,'' he said. ``Everyone else is selling an idea while we have a project that works.''
Expanding Output
Petrobras, which has been producing oil from shale commercially for 30 years in Brazil's Parana state, is seeking to expand oil output in the U.S. and other markets and to use its patented Petrosix processing technology to diversify the sources of oil, according to the statement.
The company only produces about 3,800 barrels of oil a day using its process in Brazil. If it's proven viable, the Utah project, which will receive $12 million for studies over the next 12 months, can produce much more, Epifanio said.
``Petrobras never does anything small,'' he said. ``In Brazil we developed this 30 years ago out of necessity. We didn't have many other sources of oil, but we have been developing and perfecting the technology since then and are looking for projects that would allow us to use it on a larger scale.''
[...]
Can I puke in my hand or do I need to use a doggy bag? I thought Petrobras just found ninety million billion barrels on their continental shelf. I mean don't we really want to get that to market first before we do a joint nuclear exercise in Colorado?
Joined: Apr 19, 2006 Posts: 199 Location: Australia
Posted: Tue Jun 10, 2008 5:28 am Post subject: Re: Petrobras gets in on Utah oil shale project, using own t
Hey guys, this is just strategic thinking. Petrobras has some fields being developed in conjunction with US companies in the Gulf of Mexico already. Now they are putting their feet in the tar sands of Utah. It is a slow "infiltration" into the US oil market. It is pretty much like China going into Africa, or Australia into East Timor. At the moment, it looks like something pretty silly, but from the strategic point of view, it means a lot.
Petrobras wants to spread its arms towards other places. It has a presence in North and South America, Africa and recently has been trying something in southeast Asia. It wants to go global. Not much about oil, but about presence.
Cheers. _________________ Omnia mutantur, nos et mutamur in illis
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