Oil Production

Rhett A. Butler, mongabay.com, November 8, 2008 Malaysia and Indonesia ̵ countries that account for more than 85 percent of global palm oil production — will cut production in an effort to shore up collapsing palm oil prices, reports The Jakarta Post. The agricultural ministers for both countries agreed to initiate a 300,000-hectare replanting program that will replace aging trees with see

Since time immemorial, the Wuaraorani Nation has inhabited the right bank of the river Napo and the left bank of the river Curaray, located in the Concession’s southern area. Today, this nation’s territories are located in three provinces of Amazonia: the Province of Orellana (district of Orellana, parish of Dayuma, the district of Aguarico, parishes of Tiputini, Yansuní, and Santa María de

This chart is about as simplistic as it gets. Hat tip to Barry Ritholtz over at The Big Picture for posting up what he aptly calls "A Chart of the Decade." Many of the energy themes I've discussed here before stem from one very basic chart.(click to enlarge)Source: ITF Interim Report on Crude Oil

I hope that what I just read about reducing the price hike that is killing the world economy is real. If there is any chance or any industry that help stop the non-stop rise of the gas price, will surely be appreciated by anyone in the world. Biofuels may be reducing our financial crisis. OPEC should accept this as a big competition. The production and use of biofuels worldwide, will reduce more t

JIDDAH, Saudi Arabia - Saudi Arabia is willing to produce more oil if customers need it, the kingdom's oil minister said Sunday without citing any specific output increase. Saudi Arabia, the world's... Your News is the place where wonderful, funny, and amazing things exist. This blog delivers informative news in the easiest way.

Saudi Arabia's Shura council (parliament) will hold a series of meetings over the next two weeks to discuss a controversial proposal by a key member to curb oil production to save reserves for better prices, Saudi media reported. The council will listen to a report by deputy chairman of the Shura water and public utilities committee, Salim bin Rashid Al Marri, who will argue for cutting crude

Oil production in Indonesia may exceed one million barrel a day in 2010 when the production in Cepu oil field in Java Island reaches 200,000 barrel per day, Vice President Jusuf Kalla said Friday. Currently, Indonesia's oil production is 927,000 barrel per day. "We expect Cepu oil field to begin production this year. From 2010 and 2011 it will reach maximum production capacity from 180,000 to

Saudi Arabia will increase oil production by 300,000 barrels a day, a significant jump. The price of crude should drop sharply when the market opens. According... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Saudi Arabia, the world's largest oil exporter, stated that it plans to increase oil production by 300,000 barrels a day in response to higher demand and by request from President Bush. The move which will go into effect next month will increase its current production supply by 3.3 percent. The news comes just after Goldman Sachs raised their price targets for oil to $141 from $107 stating that

Here is an email I received from the American Conservative Union. In accordance with their request I clicked the link and sent an email to Levin & Stabenow. Of my own free will I blasted them with profanity and expressed my hatered & contempt after detailing the immediate effect oil inflation is having on me. It is time to tell them that their vote against the McConnell Amendment will cau

OPEC is expected to pump 32 million barrels per day of oil in 2008, the U.S. Energy Information Administration said on Tuesday, down 50,000 BPD from the agency's prior forecast in April. The agency also lowered its forecast for non-OPEC oil production to 49.74 million BPD from the April forecast... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

World oil production has already peaked and will fall by half as soon as 2030, according to a report which also warns that extreme shortages of fossil fuels will lead to wars and social breakdown.The German-based Energy Watch Group will release its study in London today saying that global oil production peaked in 2006 - much earlier than most experts had expected. The report, which predicts that production will now fall by 7% a year, comes after oil prices set new records almost every day last week, on Friday hitting more than $90 (£44) a barrel."The world soon will not be able to produce all the oil it needs as demand is rising while supply is falling. This is a huge problem for the world economy," said Hans-Josef Fell, EWG's founder and the German MP behind the country's successful support system for renewable energy.The report's author, Joerg Schindler, said its most alarming finding was the steep decline in oil production after its peak, which he says is now behind us.The resul

OPEC will probably decide against boosting oil supplies next month as concerns over slower economic growth may weaken demand for crude, according to the Center for Global Energy Studies.There's only a 3 percent likelihood that the Organization of Petroleum Exporting Countries will raise production when it convenes in Vienna on Sept. 11. At the same time, there's a one- in-five chance an economic slowdown will cut oil demand by 500,000 barrels a day, the center said in a report today.``OPEC does not seem, at the moment, to be contemplating an increase in supplies at its September meeting,'' the CGES said. ``If oil demand weakens, OPEC will see this slowdown as justification for its stance.''The 12-nation group, which produces 40 percent of the world's crude, is partway through an announced production cut of 1.7 million barrels a day.Crude oil futures in New York plunged 3.2 percent to a five- month low of $70.10 a barrel on Aug. 16 amid concerns that loan defaults in the U.S. wou

OPEC will probably decide against boosting oil supplies next month as concerns over slower economic growth may weaken demand for crude, according to the Center for Global Energy Studies.There's only a 3 percent likelihood that the Organization of Petroleum Exporting Countries will raise production when it convenes in Vienna on Sept. 11. At the same time, there's a one- in-five chance an economic slowdown will cut oil demand by 500,000 barrels a day, the center said in a report today.``OPEC does not seem, at the moment, to be contemplating an increase in supplies at its September meeting,'' the CGES said. ``If oil demand weakens, OPEC will see this slowdown as justification for its stance.''The 12-nation group, which produces 40 percent of the world's crude, is partway through an announced production cut of 1.7 million barrels a day.Crude oil futures in New York plunged 3.2 percent to a five- month low of $70.10 a barrel on Aug. 16 amid concerns that loan defaults in the U.S. wou

The year-on-year decline in Britain's oil and gas production in the North Sea continued through April despite near-record investment, according to the latest monthly report by the Royal Bank of Scotland published Monday. Oil production fell to below an average of 1.4 million barrels per day (bpd), over 12 per cent less than in April last year. Gas was also down 3.2 per cent on the year to 8,170 million standard cubic feet per day (mmcfd). The UK's continental shelf "is maturing rapidly and an increasing share of investment spending is needed just to maintain current production levels," the bank said. "Recent production data provide mounting evidence that the long- term decline of the North Sea will not come to a halt," it said about the production, which has been falling since 2000. Despite the fall, the average daily value of oil rose due to rising prices to Pnds 81.76 m, its highest level in year, when production was nearly 200,000 bpd more. In January, the Royal Bank of Scotla

The year-on-year decline in Britain's oil and gas production in the North Sea continued through April despite near-record investment, according to the latest monthly report by the Royal Bank of Scotland published Monday. Oil production fell to below an average of 1.4 million barrels per day (bpd), over 12 per cent less than in April last year. Gas was also down 3.2 per cent on the year to 8,170 million standard cubic feet per day (mmcfd). The UK's continental shelf "is maturing rapidly and an increasing share of investment spending is needed just to maintain current production levels," the bank said. "Recent production data provide mounting evidence that the long- term decline of the North Sea will not come to a halt," it said about the production, which has been falling since 2000. Despite the fall, the average daily value of oil rose due to rising prices to Pnds 81.76 m, its highest level in year, when production was nearly 200,000 bpd more. In January, the Royal Bank of Scotla

The year-on-year decline in oil and gas production in the UK sector of the North Sea is continuing its decline, dropping by a further combined 10 per cent in March, according to the latest monthly report by the Royal Bank of Scotland.Oil production was down 5 per cent on the month at 1,403,005 barrels per day (bpd) and down 14 per cent on the year, while natural gas output production decreased 3 per cent and 6 per cent respectively to 8,581 million standard cubic feet per day (mmcfd).The bank said that decline, which started in 2000, was continuing despite near-record investment in 2006. It suggested that increased drilling activity, the underlying long-term fall in production was "unlikely to be reversed." Despite the fall-back, the provisional average value of combined production in March reached Pnds 81.29 million (Dlrs 160 m), the highest in more than a year due to a resurgence in prices.But unlike some forecast, the report suggested that crude oil prices could be expected to moder

The year-on-year decline in oil and gas production in the UK sector of the North Sea is continuing its decline, dropping by a further combined 10 per cent in March, according to the latest monthly report by the Royal Bank of Scotland.Oil production was down 5 per cent on the month at 1,403,005 barrels per day (bpd) and down 14 per cent on the year, while natural gas output production decreased 3 per cent and 6 per cent respectively to 8,581 million standard cubic feet per day (mmcfd).The bank said that decline, which started in 2000, was continuing despite near-record investment in 2006. It suggested that increased drilling activity, the underlying long-term fall in production was "unlikely to be reversed." Despite the fall-back, the provisional average value of combined production in March reached Pnds 81.29 million (Dlrs 160 m), the highest in more than a year due to a resurgence in prices.But unlike some forecast, the report suggested that crude oil prices could be expected to moder

 Updated April 16, 2008    Federal State Statistics Service (Rosstat) data about the industry state in January-March confirms the recovery of industrial production growth in Russia. It totaled 6,2% in annual terms in 1Q of 2008. The Russian industry grows due to the processing sectors, while oil production has been reducing ...