Using latest monthly EIA and Jodi data. Fig 1: Asian crude production peaked 2010-2015 (where EIA data are not available, the annual BP Stat Review has been used) Asian oil production is…
Category: Asia
Asia Pacific peak oil: 2020 production continued decline at -2.7% pa
Production: pre-Covid trends prevail Fig 1: Oil decline in 2020 was a modest 200 kb/d similar to the post 2015 trend Fig 2: China’s (and Australia’s) modest growth of 65 kb/d (12…
Brunei peak oil – golden opportunity for China’s Belt and Road Initiative
Fig 1: Gold plated dome of the Sultan Omar Ali Saifuddin Mosque in Bandar Seri Begawan Fig 2: Brunei crude & NGL production. The 2nd and last peak was in 2006 (Shell…
Exxon Mobil’s refinery closure in Australia: peak oil context
Exxon Mobil’s Melbourne refinery is closing and will be converted into a fuel import terminal. The Australian public broadcaster has found the right title for its article: Australia loses another oil refinery,…
Australia’s BP Kwinana refinery closure: peak oil context
Fig 1: BP is in peak oil mode BP shuts down Kwinana refinery with 600 jobs expected to go, Commonwealth says no impact on fuel security 30 Oct 2020 Fig 2: Kwinana…
Peak oil in Asia Update June 2020 (part 4)
In the previous posts we have shown that the peak oil problem in Asia is mainly a problem of skyrocketing consumption at an additional 1 mb/d (2.8%) each year. Whereas in Europe…
Peak oil in Asia Update June 2020 (part 3)
Fig 22: The peak of the largest producer China determined the Asian peak From the countries in Fig 22 the 3rd and 4th largest oil importers are Thailand and Indonesia with approximately…
Peak oil in Asia Update June 2020 (part 2)
Continued from part 1 But there is another metric explaining China’s oil consumption growth: debt. The following graph is from an article by the Institute of International Finance in its weekly insight…
Peak oil in Asia Update June 2020 (part 1)
Fig 1: Asian oil consumption is around 5 times higher than production The production decline after the peak in 2015 is very modest. The size of the gap between consumption and production…
Uncertainties following the Abqaiq attack have shrunk the world’s safe oil reserves by around half (part 2)
In part 1 we had a summary table comparing Rystad’s 1P (proven reserves), 2P (proven + probable reserves) and 2PC (2P reserves + mean contingent) for all countries outside the Middle East….