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
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...
"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...
Stephen is a petroleum chemist with over 30 years experience and started his career as a mud logger drilling oil wells. Product Demand and Disposition Global refining capacity is in a state of flux. In the main, the refining capacity in the OECD countries is in a mature state, with ...
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 fear lies in the opening of a new front in the Middle East, especially with the expansion of Turkey's regional role in transporting oil and gas via the new pipeline system from the Caspian Sea, Iraq and Iran, and, in the future, from Egypt, via the Arab gas line via Turkey to ...
"I have been your President for a year now. While the Nation has been focused on healthcare and the wars in Afganistan and Iraq, while you have been distracted by a relatively "mild" recesion, I and my team of energy analysts have been determining the extent of a looming problem that,...
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...