"The conventional oil
and gas sector does not compete with renewable energy but on the contrary the two are complementary," he said.
The large conventional oil
fields of the slope, like the Prudhoe Bay, Kuparuk River, and Alpine fields, are of this type.
Light tight oil is much more expensive to produce than conventional oil
"Because tar sands [have] more sulfur, nitrogen, and metals in [them] than conventional oil
, upgrading and refining [them] causes a lot more air and water pollution and greenhouse gas emissions," reports the Natural Resources Defense Council (NRDC), a leading environmental non-profit.
It found that the value the Commission assigned for GHG emissions from conventional oil
could be 10% higher than estimated.
pictured Algeria's minister of energy and mines Youcef Yousfi () said early evaluations show new reserves of more than 1bn barrels of conventional oil
under the giant Hassi R'Mel gas field.
The US Geological Survey estimated that Cuba's offshore waters have "significant undiscovered conventional oil
potential", between 4.6 billion and 9.3 billion barrels.
These alternatives have started to compete with conventional oil
markets, and most importantly, they began to pose serious competition in attracting investments, at the expense of conventional oils
(in the Middle East specifically), though the latter are less expensive, more abundant, and easier to extract, and are already linked to extensive networks of pipelines and ports that haul them from production areas to consumer markets.
Amec noted good demand from the conventional oil
and gas sector together with robust activity in the North Sea and the Gulf of Mexico.
Unconventional oil and gas resources are often located in the same sedimentary basins as conventional oil
and gas fields.
This time, it hopes to carry out a study on conventional oil
but it will not abandon its work in heavy oil," Pascal Velonarivo, the director general of hydrocarbons within the ministry of oil and hydrocarbons told reporters.
But Ibers scientists claim plants, such as rye grass and Jerusalem artichoke, can provide bio-fuels and bio-plastics as green alternatives to conventional oil
, fossil fuels and oil derivatives.