10 December 2019
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    Shale gas and tight oil have provided a new lease on life for U.S. oil and gas production. But how sustainable is shale production in the long term given optimistic forecasts of robust production through 2050 and beyond?

     

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    Oil and gas companies have discovered 7.7 billion barrels of oil equivalent (boe) of conventional oil and gas year-to-date, according to Rystad Energy’s latest global discoveries report. The so-called resource replacement ratio for conventional resources now stands around 16%, meaning that only one barrel out of every six consumed is being replaced by new sources. See press release in pdf.

     

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    On January 15, 2019, ASPO.be launched its new website. With french and english sections. Many publications about peak oil are written in English, while many readers of ASPO.be are francophone. To avoid to our visitors the struggle to search among documents written in a langage that is not familiar to them, we divided the website into French and English sections.

     

Peak Oil News by Tom Whipple

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Forecast of Oil Production ASPO France 2017

ASPO France members and external experts participated in an inquiry about future oil supply and world energy mix. Future oil productions are dominated by conventional oil, with a plateau or decline likely after 2020 ; only one person estimated that global oil production will stay over 100 Mb/d in 2030.

Discoveries of conventional oil and gas in 2018 according to Rystad Energies

The consulting company Rystad Energy estimates that 9.4 billion boe in conventional oil and gas were discovered in the world in 2018, which gives a replacement ratio of only 15% of world reserves.

9.4 Goe of conventional oil and gas discovered in 2018.

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