Insight and inspiration in turbulent times.
Indonesia, South-east Asia’s biggest oil producer, will be unable to prevent production declining within four years without increased exploration spending to find new fields, Energy Minister Purnomo Yusgiantoro said.
The project is situated off Russia’s eastern coast and estimated to have a maximum oil and oil-condensate output of 700,000 barrels per day — similar to that of OPEC member Qatar.
The smooth, prompt start-up of about a dozen big-ticket oil projects over the next 18 months is more important than ever to meeting global oil demand growth and keeping prices under control, analysts say.
Moore implies — correctly — that the primary motive for the war was to seize the oil fields. He does not discuss “peak oil” theory, which — if valid — does much to explain why Bush viewed this seizure as a necessity.
The Association for the Study of Peak Oil & Gas newsletter is, once again, essential reading.
Tehran finds itself located in a very volatile region of the world, one in which powerful outside interests have as their major foreign policy objective the desire to prevent a Middle Eastern state from gaining too much power.
If China’s economy moved forward to a level that was approximately on par with Mexico’s current economy, the world demand for oil would double.
A suspension of OPEC production quotas is an option that could be discussed at a ministerial meeting of the cartel in Beirut next week, a source close to OPEC said.
Al-Naimi attempts to address concerns raised this by energy investment banker, Matthew Simmons about his country’s remaining oil reserves.
Kazakhstan is determined to take a stake in the country’s Kashagan oil field, signaling that there might be further turmoil in the development of the world’s largest oil find in more than three decades, according to the country’s top energy official.
Peak Oil, petrodollars and the US interest in Venezuala
Let me introduce you to a kook. In 1956, when U.S. oil wells were spouting like so many Old Faithfuls, a geophysicist named Marion King Hubbert thought he was the prophet Teiresias.
