• 5 minutes Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 11 minutes IEA Sees Global Oil Supply Tightening More Quickly In 2019
  • 14 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 4 hours Waste-to-Energy Chugging Along
  • 18 mins U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 21 mins Contradictory: Euro Zone Takes Step To Deeper Integration, Key Issues Unresolved
  • 3 hours Let's Just Block the Sun, Shall We?
  • 1 hour Venezuela continues to sink in misery
  • 10 hours Zohr Giant Gas Field Increases Production Six-Fold
  • 12 hours Regular Gas dropped to $2.21 per gallon today
  • 10 hours No, The U.S. Is Not A Net Exporter Of Crude Oil
  • 6 hours UK Power and loss of power stations
  • 4 hours What will the future hold for nations dependent on high oil prices.
  • 20 hours $867 billion farm bill passed
  • 22 hours Air-to-Fuels Energy and Cost Calculation
  • 18 hours USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 6 hours EPA To Roll Back Carbon Rule On New Coal Plants
  • 11 hours Global Economy-Bad Days Are coming
The Next Big Development In Offshore Oil & Gas

The Next Big Development In Offshore Oil & Gas

German tech company Siemens announced…

Nuclear Power Becomes Critical To Arctic Dominance

Nuclear Power Becomes Critical To Arctic Dominance

Small Modular Reactors could become…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

How Russia Saved This Oil Platform From A Titanic Disaster

Iceberg

Rosneft endeavored to move an iceberg in the Arctic Ocean weighing over 1 million tons in order to prevent it from crashing into an oil platform, according to a new report by Reuters.

The iceberg’s tonnage is double that of the famed floating ice chunk that sunk the Titanic in 1912.

To effectively tow the ice, experts use echo feedback to measure the depth of the iceberg and then use the information to adequately equip ships that will eventually move the huge block of frozen water.

The Arctic is one of the last frontiers of natural resource discovery, and underneath the tundra and ice are vast amounts of undiscovered oil, natural gas, and minerals, the economics blog Zero Hedge said last year. That’s why there is a high-stakes race for Arctic domination between countries such as the United States, Norway, Russia, Denmark, and Canada.

In terms of oil, it’s estimated that the Arctic has 90 billion barrels of oil that is yet to be discovered. That’s equal to 5.9 percent of the world’s known oil reserves – about 110 percent of Russia’s current oil reserves, or 339 percent of U.S. reserves.

Icebergs that break off from West Antarctica often stick close to the coast, but can also find their way into open waters, close to South America’s Cape Horn, which poses a problem for shipping companies. A few years ago, Grant Bigg, and ocean modeler at the University of Sheffield, said that strong winds blowing off Antarctica helped to push a giant iceberg away from land after warmer weather and water in the Southern Hemisphere worked to melt the winter ice sheet that had been helping to hold it in place.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News