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Russia: Top secret oil

British Petroleum states that Russian oil reserves equal to 60 billion barrels.

Such relatively modest amount leads us to believe that a new Russian law consummated in February 2004 was no coincidence. According to the new law, any information concerning oil reserves in the country is in fact State secret.

Is Saudi Arabia Still the King of the Oil?

So it’s almost official: World oil production is in trouble. The secret has been slipping out of late, with reports of Royal Dutch Shell and other oil producers downgrading their reserves, but it now seems that Saudi Arabia may also be in crisis mode over its reserves.

British Petroleum states that Russian oil reserves equal to 60 billion barrels.

Such relatively modest amount leads us to believe that a new Russian law consummated in February 2004 was no coincidence. According to the new law, any information concerning oil reserves in the country is in fact State secret. Actual oil and gas reserves in Russia turned out to be not quite as big as the Russian elite had envisioned them. Taking into account today’s export tempo of oil products, Russia could soon begin importing oil.

Adios, cheap oil, bring on the big bucks

CARACAS – The high oil prices seen since the US-led invasion of Iraq could be followed by a drop, as has occurred for decades after every rise in prices. But even then, signs pointing to shortages in the medium to long term indicate that the era of cheap oil is officially over.

Oil Slick Jim moves in

I avoid the New York Times but lately, it’s become a compulsion, though only for the new daily column titled, “Names of the Dead.” Today’s listing: “DERVISHI, Ervin, 21, Pfc, Army. Fort Worth.”