Archives Mensuelles: juin 2013

2012 hightlights: US oil production rising

Global demand for oil, gas, coal and nuclear power grew at a slower pace in 2012 due to weak economic growth, recession and increased efficiency, energy company BP said on June 12th, 2013 in its 62nd annual report. In an annual review of the world energy market, BP said growth in energy consumption slowed to 1.8 […]

Russian oil explorations

Russia is washed by 13 inland and open seas, with the area of the shelf and continental slope totaling 6.2 million square kilometers. Twenty major oil and gas provinces and basins have been discovered on the Russian shelf, 10 of which have proved oil and gas reserves (the largest Arctic sedimentary basins are the East […]

Russian production levels

Russia holds the world’s largest natural gas reserves, the second-largest coal reserves, and the ninth-largest crude oil reserves. Russia is the largest producer of crude oil with an average about 9.8 million bbl/d in 2011 and 10.4 bbl/d in 2012. OAO Rosneft became the world’s largest oil producer after it acquired TNK-BP in March 2013 […]

Peak oil: economical views

Everybody has heard the story about oil supply supposedly rising and falling for geological reasons. But what if the story is a little different from this–oil production rises and falls for economic reasons? If this is the issue, it doesn’t really matter how much oil is in the ground. What matters is if economic conditions […]

Oil exploration issues

The reserves of major international oil and gas companies, measured in accordance with international standards, have an average life of 13 years. Beyond 2025, given the current level of exploration, producing companies are likely to face the challenge of finding new reserves to replace those being produced. Until 2025, there is still a chance to […]

Horizontal drilling: a marvel of engineering and scientific innovation

The massive new shale gas and oil resources discovered in recent years were made possible by the wedding of two technologies: Hydraulic Fracturing (“Fracking” in media parlance) and Horizontal Drilling. Of the two technologies, Horizontal Drilling is the real marvel of engineering and scientific innovation. While impressive in its own right, the main innovations in […]

Norway: a model of oil state capitalism

While its Nordic neighbours are flirting with free markets, Norway is embracing state capitalism. Its national oil champion, Statoil, is the largest company in the region. The Norwegian state owns large stakes in Telenor, the country’s biggest telephone operator, Norsk Hydro, its biggest aluminium producer, Yara, its biggest fertiliser-maker, and DnBNor, its biggest bank. It […]