• The world’s oil and gas explorers discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015, according to estimates from Rystad Energy. The replacement ratio was at about 19%. It is improving with respect to 2018 (15%), but it is still far from the 50% level of 2012, and from 100% in 2006, the last

     

  • Shale Reality Check 2019.

    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?

     

Peak Oil News by Tom Whipple