The Outlook for the World Oil Market
Lord Browne claims that there are no pressing physical supply constraints on oil.
Industry
A Study of the Reporting of Saudi Arabia’s Reserves
An empirical challenge to USGS/USDOE forecasts of future Saudi oil production, with some important comments from industry figures at the end, e.g. “..Billions of barrels of oil calculated to be part of world reserves by the US government include nearly unusable pitch..”
Canadian natural gas reserves continue to fall despite record drilling activity
Canada’s known natural gas reserves continue to decline even though a record number of wells were drilled in 2003, the energy industry announced Thursday.
Exxon Mobil, Saudi Aramco start work on Chinese refinery
Exxon Mobil Corp., the world’s biggest publicly traded oil company, and Saudi Aramco started engineering work on a US$3.5 billion refinery in China’s southern Fujian Province, a Saudi official said.
Innovation seen crucial to future energy supply
Escalating world oil demand and declining production rates will push the world toward unconventional forms of energy, including synthetic hydrocarbons, said speakers at an annual oil and gas conference hosted by Deloitte & Touche LLP, the US arm of Deloitte Touche Tohmatsu.
Venezuela Shuffles Leadership of Oil Industry
Analysts said the move was intended to strengthen Mr. Chávez’s hold over the oil industry at home while tapping Mr. Rodríguez, an oil executive, to work toward the international expansion of Mr. Chávez’s leftist movement by using oil from the world’s fifth-largest oil exporter as a diplomatic bargaining chip.
Main production unit of Yukos to be auctioned on Dec 19
The Russian government will auction off Yuganskneftegas, the main production unit of embattled oil giant Yukos, on December 19 with a starting price of 246.75 billion rubles (8.65 billion dollars), the federal property fund announced.
China Barrels Ahead in Oil Market
China, the world’s second-largest consumer of oil after the United States, has plenty of cash to secure sources of petroleum and natural gas. But as aggressively as any nation, it is also cutting deals and forging alliances to get the energy it needs.
Energy Institute Conference: Depletion is Happening
The industry does think that depletion is happening; there is a lot of disagreement on exactly when and how….
The debate between geologists and economists (primarily Arnott and Odell) is exceedingly polarised.
Big Oil Likely To See Host Countries Take A Bigger Bite
Energy companies are facing tougher negotiations over fiscal terms, as oil-producing countries capitalize on the tight market to push for a better returns.
Nigeria strike call targets Shell
Nigeria’s main trade union body is planning a second general strike over fuel price rises, and has warned it will target oil exports.
China: Battle for Oil and Money, Kremlin Style
China may not have a flamboyant oil tycoon like Russia’s Yukos ex-boss Mikhail Khodorkovsky but Beijing is embroiled in a similar, albeit smaller, court battle over oil and money as the Kremlin.