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Asia depends on Middle East for 66 % of its oil imports

Of Asia’s total incremental oil imports since 2001, 4.5 mb/d (47%) have come from production growth, 3.9 mb/d (41%) from taking away imports of other countries (US, Europe, Africa and others) and 1.2 mb/d (12%) from direct consumption decline (US, Europe and others).

Asia’s Oil Consumption at Record High While Production Peaked in 2010

The question no one asks (or wants to ask) is how much oil there is to carry Asia through the decades to come. No one can give an answer of course but it is clear that if past oil consumption and production trends continue the region will slide into a huge oil crisis.

China's Offshore Oil and Gas Production Started to Peak in 2010

The China National Offshore Oil Corporation has had problems growing oil and gas production in the Bohai Bay since 2011 due to geological and environmental limitations in the Bohai Bay, its main producing area. This has resulted in the company expanding overseas.

Australia’s alternative transport fuel: The East Coast gas-ship has sailed

Credit Suisse reported that there is not enough East coast gas for 3 LNG export terminals at Gladstone, Queensland. If that is the case then it is doubtful whether there will be sufficient gas to replace petrol and diesel by gas as transport fuel.

US enters undulating crude oil production plateau in 2015

Feel-good-outlooks make the TV audience happy, but sleepy.

IEA report: US shale oil growth practically zero in 2017

US growth is seen to decline to a meagre 160 kb/d by 2017. That is plausible given the high decline rates in tight oil fields.

Free oil! Next stop free oil crunch

What would you do if your salary were cut by 50%? How long would you survive this?

Peak Affordable Oil

Using the assessment of the Bank of Canada, production of affordable oil at price levels up to $75 has peaked or is at peak since the turning point of 2005. This means that the global economy cannot grow “normally” again.

Tight oil boom can explain only part of drop in US oil product imports

This analysis shows that only around one quarter of a drop of 1.7 mb/d since 2005/06 can be explained by the tight oil boom.

World on drip of unconventional oil

Currently lower oil prices due to a combination of increasing oil supplies and subdued demand come at a high cost to the environment and the climate.
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