The IEA (in Paris) proudly announced in its latest September 2018 Monthly Oil Market Report that global supplies (of liquids) have reached 100 mb/d in August, an impressive figure. What matters, however,…
Category: Global
Does the IEA try to hide the conventional crude oil peak in its 2017 World Energy Outlook?
In this post we look at crude oil production in the World Energy Outlook released in November 2017 Fig 1: WEO 2017 oil supply Note that the 5 year interval table omits 2005…
The Fight for Northern Iraq’s remaining oil
Fig 1: Iraqi crude exports by SOMO The above graph shows Iraqi crude oil exports by the SOMO oil marketing company. Until March 2014 Kirkuk crude from North Oil Company (Avana and…
Royal Dutch Shell’s upstream earnings peaked 2008, now in the red
Shell’s upstream earnings1) were in the red since the 1st quarter of 2015 according to first half 2016 reports. Earnings peaked at US$ 6 bn in the 2nd quarter of 2008 and…
Australian public broadcaster a true believer in US shale oil supremacy
In yesterday’s 7 pm news ABC TV business presenter Alan Kohler got carried away with the news that the US drilling rig count increased by 2 rigs in the last week: Fig…
Incremental crude production update August 2016
OPEC Fig 1: OPEC’s incremental crude oil production Incremental production for each country is the production above the minimum production for the period Jan 2000 – May 2016 (the latest data available…
Oil reserves and resources as function of oil price
BP Statistical Review: proved reserves not so proven We start with what most people will do, the BP Statistical Review (latest version June 2016). The review’s Excel file contains a work sheet…
Peak Oil in Asia and oil import trends (part 2)
We pick up the question from part 1: Fig 11: Homework for governments Let’s have a look where all the net imports into Asia have come from in the past: Fig 12:…
World outside US and Canada doesn’t produce more crude oil than in 2005
After a delay of several months the US Energy Information Administration has published the latest international energy statistics for October 2015 This is an opportunity to update crude oil graphs http://crudeoilpeak.info/latest-graphs Fig…
IEA in Davos 2016 warns of higher oil prices in a few years’ time
World Economic Forum The Transformation of Energy Fig 1: WEF energy panellists 22/1/2016 From right to left: moderator Daniel Yergin (IHS), Fatih Birol (IEA), Hiroaki Nakanishi (Hitachi), Ignacio Sánchez (Iberdrola), Eric Xin…