January Bush fires in Adelaide, Australia February Explosion in Kobani, Syria March Great Prophet 9 war games in Straits of Hormuz April Hanging tracks blasted over culvert washout on substandard main rail…
Category: Global
Where actually is that much-hyped global oil glut?
The media is full with news that there is a global oil glut. There are now more than 3bn barrels of excess oil in the world 13/11/2015 http://www.telegraph.co.uk/finance/oilprices/11993687/There-are-now-more-than-3bn-barrels-of-excess-oil-in-the-world.html Record oil glut stands…
Asia depends on Middle East for 66 % of its oil imports
This post uses data from the inter area oil movement section of the BP Statistical Review published in June 2015. It is a continuation of an earlier post on Asian oil consumption…
US enters undulating crude oil production plateau in 2015
This is a post on the EIA Short Term Energy Outlook March 2015 (STEO) The following graph shows total US crude production according to EIA statistics until Feb 2015 and then a…
Free oil! Next stop free oil crunch
Buy 1 barrel of oil for $100, get one barrel free!That makes $50 a barrel. Looks like a sale. Hurry before it ends. Spare a thought for the poor oil industry losing…
Peak Affordable Oil
It is quite obvious that high oil prices in the last 3-4 years Fig 1: WTI spot prices to 23/1/2015 http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=rwtc&f=w have reduced demand for oil, as shown in this IEA graph…
World on drip of unconventional oil
Currently lower oil prices due to a combination of increasing oil supplies and subdued demand come at a high cost to the environment and the climate. Additional oil supplies are exclusively from…
US shale oil growth covers up production drop in rest-of-world
We use the period starting with January 2010 when crude production had come back to 2005 levels after the exceptional year of 2009 Fig 1: US crude oil vs crude oil in…
10 years after peak oil in Vietnam: Asian Century sails into troubled waters in the South China Sea
Only weeks after the Australian Prime Minister Tony Abbott introduced “Team Australia to help China build the Asian Century” to the Boao Forum on the island of Hainan in the South China…
OPEC fiscal breakeven oil price increases 7 % in 2013
Using recent research from the Arab Petroleum Investment Corporation (APIC) it can be calculated that OPEC’s fiscal break-even oil prices have increased by around 7% pa in 2013 while OPEC’s population grows…