Tag Archives: oil

Oil and Gas Production in N America

This post provides an overview of N American oil and gas production utilising the growing mountain of charts to be found in Global Energy Graphed. These charts show the parlous state of the Mexican oil and gas industry that will be the focus of this post. Oil production is down nearly to the point where Mexico will cease oil exports. Gas production is down and Mexico has already become a serial gas importer. Drilling has virtually come to a halt. Continue reading

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Ed Davey in Wonderland

Record investments of £45 billion in electricity generation and networks since 2010 has seen UK electricity consumption fall from 361 to 337 TWh (6.7%) while electricity imports have risen from 2.7 to 14.4 TWh (5.3 fold). Continue reading

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Oil and Coal: trends in global energy substitution

The percentage contributions of oil and coal tend to move in opposite directions. Coal goes down, oil goes up. Oil goes down, coal goes up. Oil goes flat, so does coal. But neither oil nor coal show a clear overall relationship with the third major source of energy, natural gas. The suggestion is that oil and coal have been substituting for each other, with coal replacing oil or oil replacing coal depending presumably on market conditions at the time, but with gas remaining largely unaffected. Continue reading

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Oil, economic growth and recessions revisited

Here I re-tread a well-trodden path, but with recent events in the oil market I thought a brief recap might be timely. I begin with a photographic illustration of a typical US demand response to the tripling of oil prices that … Continue reading

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Blowout week 38

This edition of blowout comes from the still United Kingdom. 22 stories in all, about half of those from Roger. Continue reading

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Blowout week 37

Oil and gas industry expert Sir Ian Wood accuses Scottish nationalists of using overly optimistic figures on North Sea oil reserves which he dismissed as “highly speculative or even fantasy”. (He) warned there are only 15 years of reserves left before the industry’s decline starts wreaking major damage on the Scottish economy. Continue reading

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ISIS, Iraq, Kurdistan and the control of Oil

The recent capture of Kirkuk by the Peshmerga gives a clear sign of Kurdish intentions. The area is of immense regional importance, not just for its oil reserves and production but for its pipelines that cross into Turkey at a very narrow point of mutual Iraq – Turkey border. If the Kurds expand into the grey area, that is after all populated by Kurds that will welcome the Peshmerga with open arms, then Kurdistan will shortly control most of the oil and all of the export infrastructure of northern Iraq. Continue reading

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Global Energy Trends – BP Statistical Review 2014

In 2003, FF accounted for 87% of global primary energy consumption. In 2013, FF accounted for 87% of global primary energy consumption. This is testimony to the absolute failure of energy policies aimed at reducing CO2 emissions. Continue reading

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Goodluck Nigeria – a failed State

Average per capita GDP has grown in recent years on the back of rising oil price but stands at a little over $1000 per annum. Per capita energy consumption (excluding wood) is 0.12 tonnes oil equivalent per annum, a tiny fraction of N African neighbours. Continue reading

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Blowout week 18

25 stories this week in an action packed Blowout. Germany: Energiewende kaput? Big oil in trouble. Ukraine / Russia: Ukraine raises domestic gas prices by 50%. Continue reading

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Does the UK Economy Run on Energy or Hot Air?

Much of the growth in the UK economy since 1980 is indeed hot air while energy consumption still underpins the real economy providing heat, light, food, shelter, security, mobility and enormous leverage in manufacturing. Continue reading

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From Financial Subprime To Global Energy Subprime

The really supreme irony, perhaps, is that throughout the 1948-1991 Cold War it almost never produced anything like the current menace to global energy security. Continue reading

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Libya – energy, population and economy

Europe has only 4 contiguous suppliers of imported gas and oil. Russia to the East is by far the most important and to the South, Algeria, Egypt and Libya. Britain and France bombed Libya into submission in 2011. The outcome to date is likely not what was planned. Continue reading

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Post-peak Algeria?

Algerian exports of oil and gas, mainly to Europe, peaked in 2005 and have since fallen by 24% / 628,000 barrels oil equivalent per day. Those countries thinking of switching supplies from Russia had best not look to Algeria, N Africa’s biggest gas producer and exporter. Continue reading

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Russian Power

In 2012 Russia produced the equivalent of 26 million barrels oil per day spread between oil, natural gas, coal, nuclear and hydro electric power [1]. Just under 50% of that energy was exported, approximately 12.2 million barrels oil equivalent per day, mainly to western Europe and former Soviet republics Continue reading

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Egypt – energy, population and economy

Decline in oil and gas exports and increasing cost of food imports resulted in Egypt’s trade deficit with the rest of the world growing to £12 billion in 2012 [2]. Debt : GDP stands at a manageable 81% but Egypt can ill afford to allow this to grow indefinitely [3]. Egypt needs a plan to boost exports and to use its energy resources to produce higher value GDP. Continue reading

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UK oil and gas production update to October 2013

The annualised declines (12 month mean) for oil and gas both stand at around 10% per annum, improved from the high teen values seen in recent years, but production is still falling at 10% per annum despite record investment. Continue reading

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OECD oil production update July 2013

OECD oil production is rising once again. In the North Sea, production peaked at 6.82 million barrels per day (mmbpd) in November 1999 and has since fallen 56% to 2.98 mmbpd. This decline has been more than compensated by rising production in N America. The N American low point was 12.9 mmbpd in October 2008 and has since been lifted by shale oil and tar sands production to 17.1 mmbpd, a rise of 4.2 mmbpd. Continue reading

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OPEC oil production update July 2013

OPEC production has been bumping along a plateau of around 35 million bpd since 2005, that is despite prolonged record high oil prices. Continue reading

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Maximising Economic Recovery: the Wood Review

The UK is now a net importer of oil and gas and coal with a net cost to UK balance of trade near £22 billion in 2012 (Figure 2). It was against this backdrop that Secretary of State for Energy and Climate Change, Ed Davey, invited Sir Ian Wood to conduct a review of the North Sea oil industry Continue reading

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