OPEC’s compliance with record supply cuts was little changed last month as production increases in six of its member countries offset declines in Iraq, Saudi Arabia and Venezuela, the International Energy Agency said. The 11 members bound by quotas produced 26.72 million barrels a day last mont...
First, gas production would have fallen since 2008 in response to lower prices and drilling had it not been for the boom in crude production and high prices for natural gas. Second, it is the combined value of all the products from a well (dry gas, natural gas liquids and crude) that ...
In 1863, seeing the oil boom and sensing the profits to be made in the fledgling business, Rockefeller formed a partnership with fellow businessman Maurice B. Clark and Samuel Andrews, a chemist who had built an oil refinery but knew little about the business of getting his product to market...
October OPEC production: OPEC 10 27,010,000 barrels per day (Less Angola and Iraq) OPEC 11 29,240,000 barrels per day (Less Angola) OPEC 12 31,000,000 barrels per day Ron Patterson westexas on November 15, 2007 - 11:09am Permalink | Parent | Comments top I guess these numbers wo...
"America has hardly even begun to repay its debt to Iraq," said Abdul Basit, the head of Iraq's Supreme Board of Audit, an independent body that oversees Iraqi government spending. "This is an immoral request because we didn't ask them to come to Iraq, and before they came in 2003 ...
There is an awful lot of gas in the ground, enough perhaps to break the nexus between gas prices and oil prices. The peak oil argument that oil prices will rise inexorably as producers fail to bring new production on stream fast enough and cheaply enough to replace diminishing reserves simply...
(Bloomberg) -- Qatar Liquefied Gas Co., the liquefied natural gas producer known as QatarGas, delivered its first cargo of the fuel to Canada as it expands into new markets and brings additional production units on stream. Barclays Initiates LNG Services With Excelerate Deal (Bloomberg) -- ...
The revenues due to government, that reflect the new exploration and increased production costs funded by further incentives, will be consequently reduced. Peak Oil/Gas is reached then for such governments when change in revenue from taxes etc, with respect to corresponding change in production (i...
The Russian national anthem blared over the loudspeakers as dozens of oilmen and officials braved the freezing cold to watch the tanker come in, celebrating the launch of year-round oil production from Sakhalin-2, the largest oil and gas project in the world. They congratulated themselves and...