Unproved probable reserves Probable reserves are those unproved reserves which analysis of geological and engineering data suggests are more likely than not to be recoverable. In this context, when probabilistic methods are used, there should be at least a 50% probability that the quantities actually recovered will equal or exceed the sum of estimated proved […]
Author Archives: GEC
It was not that long ago that natural gas was a waste product of the oil industry and flared instead of utilised as an energy source. Interest in natural gas increased as its value as a fuel for power generation and heating was understood. Natural gas is now projected to become the number two fuel […]
The cost of electricity is a complex calculation. Using a number of assumptions it is possible to calculate the cost of producing electricity in a fixed situation but there are still external variables, especially in a lifetime cost calculation, which an owner has to evaluate with additional risk and sensitivity analysis. These include political factors […]
Most energy sources can be consumed in two ways, directly and indirectly when converted to another form of energy. For example, wood can be burned directly as a primary energy source to heat space, or it can be burned to produce heat to generate electricity, a secondary energy source. Likewise, geothermal energy can be used […]
Anyone interested in getting the GEC designation and completing the course naturally has a few questions before they begin. We have a very extensive FAQ Page, but we’ve summarized some of the most frequently asked questions and queries below. What will GEC give me, what are the benefits to me and my career? GEC will […]
Here is a sample of the stories that made the news that are highlighted in this edition of Talking Energy Oil explorers idled rigs in U.S. fields for the 21st straight week, extending an unprecedented retreat in drilling that has curbed domestic output and helped crude prices rally. Rigs targeting oil in the U.S. declined […]
There are many uncertainties about the economics of future nuclear generation. These are aggravated when nuclear is compared with other sources of power, because these are subject to their own uncertainties, such as fuel price rises and political manipulation such as OPEC and recent Russian gas manoeuvres. The cost of building nuclear power stations was […]
Global Energy Certification is an indispensable tool for individuals who wish to further their skills and knowledge of the energy industry and stand out amongst their peers. GEC is an online learning program and exam which tests your knowledge of key industry elements. The set-up allows flexibility and for the participants to work at their […]
Biofuels are liquid fuels produced from biomass feedstocks through a number of chemical processes. The two main biofuels on the market are: Ethanol and its derivative ethyl tertiary butyl ether / ETBE produced from plant sugar Biodiesel produced from vegetable oil Other liquid biofuels have been researched but have not entered large scale commercial production. […]
The earth is warmed by radiant energy from the Sun. Over time, the amount of energy transmitted to the earth’s surface is equal to the amount of energy re-radiated back into space in the form of infrared radiation, and the temperature of the Earth’s surface stays roughly constant. However, the temperature of the earth is […]
