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Tag Archives: oil production
Is Saudi Arabia Exaggerating Its Oil Production Potential?
Is Saudi Arabia Exaggerating Its Oil Production Potential? For years, Saudi Arabia has made some pretty hefty claims about its oil potential. It is becoming increasingly clear, however, that the Kingdom may be stretching the truth a little too far. Analysts are now beginning to doubt that Saudi Arabia even has the reserves it says […]
Food shortages as the energy crisis grows and supply chains break?
Food shortages as the energy crisis grows and supply chains break? Preface. This is a long preface followed by two articles about how supply chains and complex tractors may be affected by energy shortages and consequent supply chain failures in the future.Which we’re already seeing as massive numbers of ships sit offshore waiting to be […]
Saudi Aramco to increase oil production to meet global demand
Saudi Aramco to increase oil production to meet global demand Saudi Arabia’s state oil company said it would increase spending on oil production to meet rising global demand, as it reported a doubling of profits in 2021.© Provided by The Guardian Photograph: Ahmed Jadallah/ReutersSaudi Aramco – the world’s largest oil exporter and one of the world’s most profitable […]
Watch: Oil Production Ship Explodes Off Nigeria’s Coast
Watch: Oil Production Ship Explodes Off Nigeria’s Coast Nigeria could be facing an environmental disaster as a floating, production, storage, and offloading (FPSO) vessel “Trinity Spirit” carrying 2 million barrels of crude exploded off the coast, according to The Independent. The incident occurred on Thursday morning at the Ukpokiti oil field off Nigeria’s coast. Shebah Exploration […]
Oil Rally Fueled By OPEC Production Shortfall
Oil Rally Fueled By OPEC Production Shortfall In December, OPEC+ added 253,000 barrels daily to its combined production falling well short of its 400,000-bpd target OPEC’s underproduction fuels speculation about the cartel’s ability to ramp up production Morgan Stanley: global spare oil production capacity will shrink from 6.5 million bpd at the moment to just […]
Oil Producers Aren’t Keeping Up With Demand, Causing Prices to Stay High
Oil Producers Aren’t Keeping Up With Demand, Causing Prices to Stay High OPEC Plus, the United States and others have been slow to ramp up output, lagging production goals. An oil refinery in Port Arthur, Texas. Lagging production of oil worldwide has been sending prices to seven-year highs and driving inflation.Credit…Brandon Thibodeaux for The New […]
Deep freeze disrupts crude flows in oil sands and Bakken shale
Deep freeze disrupts crude flows in oil sands and Bakken shale A deep-freeze in Canada and Northern U.S. is disrupting oil flows, causing a surge in crude prices just as American stockpiles are declining. With temperatures from North Dakota to Northern Alberta below zero Fahrenheit (-18 Celsius), TC Energy Corp.’s Keystone pipeline was shut on […]
OPEC’s Joint Ministerial Monitoring Committee Is About To Begin: Here’s What To Expect
OPEC’s Joint Ministerial Monitoring Committee Is About To Begin: Here’s What To Expect OPEC+ is expected to continue with its plan to increase its production quota 400k BPD The Omicron variant impact is expected to be mild and short-lived, according to the JTC findings The meeting is expected to be smooth, but the issue of […]
A Practical Exercise Suggestion for Peak Oil Sceptics
A Practical Exercise Suggestion for Peak Oil Sceptics (Translated from Spanish by Amelia Burke, originally published in two parts.) When someone calls into question the existance of a peak in the production (extraction) of a non-renewable resource, which oil is, you should invite them to study carefully the curves of the Energy Export Databrowser. This Databrowser […]
Pretty Please? US Trying To Persuade Russia To Lift Oil Output
Pretty Please? US Trying To Persuade Russia To Lift Oil Output Interfax is reporting Thursday that the United States is urging Russia to raise oil output in order to lower global prices, following the Biden administration’s Tuesday announcement it plans release 50 million barrels of crude from the U.S. Strategic Petroleum Reserve, amid predictions of $100 oil. “The US […]
Why U.S. Shale Won’t Go To War With OPEC+
Why U.S. Shale Won’t Go To War With OPEC+ OPEC+ will be very happy with where oil prices currently are and is unlikely to change its course anytime soon The U.S. does have the ability to increase production, but U.S. shale does not have support from either the government or shareholders to boost production significantly […]
Peak oil, economic growth and the big lie
Peak oil, economic growth and the big lie In the commentary on Peak Oil recently published in the leading scientific journal Nature, James Murray (the founding director of the University of Washington’s Program on Climate Change) and David King (the Director of the Smith School of Enterprise and the Environment, University of Oxford) made the following […]
Saudis Respond To Biden: Your Energy Crisis Isn’t Our Problem
Saudis Respond To Biden: Your Energy Crisis Isn’t Our Problem US gas prices at the pump (national average) are at $3.421, having soared since President Biden was elected – much like they did when President Obama was elected – to some of the highest prices in history… President Biden refuses to take any blame for […]
