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Briefs
(clips from recent Peak Oil News dailies are indicated by date and item #) Kuwait’s oil minister said the emirate’s production capacity of 3 million b/d was sustainable without the help of international oil companies, but conceded that foreign expertise would be needed to develop heavy oil fields in the north. (6/27, #4) The five leading sources
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Briefs
The Movement for the Emancipation of the Niger Delta destroyed six more pipelines and pumping stations in the last week. A statement issued by its spokesman, Gbomo Jomo, said the latest attack was in line with its campaign to cripple the entire oil and gas exports of the Federal Government. (6/18,
Briefs
Over the next 11 years, Canada’s oil industry is likely to produce 500,000 b/d less than was forecast a year ago, according to the Canadian Association of Petroleum Producers. The forecast for the oil sands has dropped even further, the industry group said in an annual report.
Briefs
The Middle East’s LNG capacity will rise to 100 million tons a year by 2015 from the current 20 million tons a year according to Khalid Sultan al Kuwari, marketing executive at Qatar’s RasGas. (5/28, #8) Saudi Arabia raised its oil production by nearly
Brazil
Last week Brazil’s energy minister announced that international companies will be invited to bid for concessions in the pre-salt deep-water oil fields as early as next year. Brazil stopped selling concessions in the area soon after the size and importance of the discovery was recognized in 2007.
Briefs week of May 25, 2009
Nigeria’s oil production has fallen to less than half its capacity as fighting escalates in the Niger River delta. The West African nation, formerly the continent’s biggest producer, now pumps about 1.6 million barrels a day, compared with capacity of 3.2 million. (5/23,
Briefs
Saudi Aramco produced 8.9 million b/d of crude oil on average last year, up from 8.5 million barrels a day in 2007, according to its 2008 annual report posted Wednesday. Reserves of crude and condensate remained unchanged at 259.9 billion barrels. (5/13, #9) Saudi Arabia needs to rein in fast-growing
Briefs May 11, 2009
Chevron Corp. said its $4.7 billion Tahiti field in the Gulf of Mexico began pumping crude yesterday, almost two years after faulty parts delayed the project. The field, located 190 miles from New Orleans in 4,100 feet of water, is expected to produce 125,000 barrels of oil a day when
Briefs May 4, 2009
World oil demand is forecast to fall this year by much more than previously expected, as growth stalls in China and India and fuel consumption declines in the developed world. The latest Reuters poll of 11 analysts, banks and industry groups shows oil consumption is expected to decline by an average
Briefs week of April 27, 2009
Saudi Arabia will pump about the same amount of crude in May as in April, sources report. Supply has been steady since February at just under 8 million b/d, down from 9.7 million last summer. (4/24, #3) OPEC will trim crude oil shipments by 0.6 percent in the four weeks ending May 9, the smallest drop
