The Economist in 1999 said we were awash in oil. Increase in decline rates from IEA from 3.7% in 2007 to 6.7% per year now. Peak oil production capacity in 2009 (Macquarie, 2009) Dependence on OPEC to rise to 54% in 2020 from 43% today. (Total, 2009) Have 8 out of 10 oil majo...
The bosses of takeover target Gulf Keystone Petroleum have visited China with an army of advisers, leading to speculation that a Far Eastern oil giant could be interested in the company. Doctors oppose Utah oil refinery expansions SALT LAKE CITY (AP) — A group of Utah doctors are leading...
There have been recent “signs of strength” in oil markets with a 3.1 million-barrels-a-day surge in world refinery operating rates in June, the International Energy Agency said in a report today. “The industrial numbers out of China were impressive,” said John Kilduff, a partner at ...
While armchair meteorologists are plotting Hurricane Ike’s path into the Gulf of Mexico, trying to divine what could happen to vulnerable Gulf oil installations and oil prices, the real problem isn’t short-term price spikes or even refinery outages that drive up the price of gasoline. The ...
...At issue is a plan by BP to upgrade its oil refinery in northwest Indiana to increase the amount of heavy crude oil from the Canadian province of Alberta that it can refine at its Whiting plant. To help, state regulators have granted the company a permit allowing it to dump 50 perce...