Alejandro Barbajosa

Goldman’s Murti Says `Peak Oil’ Makes $105 Price Tame

Dec. 19 (Bloomberg) — Goldman Sachs Group Inc. analyst Arjun Murti, who roiled oil markets in March by saying crude may reach $105 a barrel, now says that may be conservative if the “peak oil” theory is right and world supplies are running out.

December 19, 2005

OPEC: Quotas “Obsolete”

OPEC, the source of about 40 percent of the world’s oil, is letting inventories accumulate by ignoring its own output quotas, which are “now obsolete,” the group’s President, Sheikh Ahmad Fahd al-Sabah, said yesterday.

May 10, 2005

Oil Demand Rises More Than Expected, Straining Supply, IEA Says

Oil demand this year will rise faster than expected because of cold weather and growing economies in the U.S. and China, straining the ability of producers to keep pace, the International Energy Agency said.

March 10, 2005

Shell, Exxon Tap Oil Sands, Gas as Reserves Dwindle

A 15-year decline in oil reserves is spurring companies such as Royal Dutch/Shell Group, Exxon Mobil Corp. and ChevronTexaco Corp. to spend $76 billion in the next decade to boost supplies of oil from tar sands and diesel fuel from Qatari natural gas. Oil executives say they have no choice but to try alternatives to drilling because there is not much more crude to be found in their current fields.

February 18, 2005

Shell, Exxon tap expensive oil sands & gas, oil reserves dwindle.

Solid article detailing the higher costs of oil sands and industry pressures driving project investments. Includes as context many startling figures: “Shell, based in London and The Hague, reported Feb. 3 that reserves fell in 2004 because it found enough oil to replace just 15 percent to 25 percent of what the company pumped. BP replaced 89 percent of production, the company said Feb. 8”.

February 18, 2005

Oil Reaches $54 a Barrel on Concern Winter Will Drain Supplies

Crude oil rose close to a record on concern that refiners will lack the supplies to meet demand for heating fuel during the northern hemisphere winter.

October 13, 2004

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