This post is for comments not related to oil or natural gas.
There is a new post by Ron Patterson as well.
Category: Uncategorized
OPEC August Production Data
I told Dennis that I was not going to post anymore but I just found a lot of time on my hands and decided to update the OPEC numbers from the MOMR that came out yesterday.
The new OPEC Monthly Oil Market Report is out with crude only production numbers for August 2016. All charts are through August 2016.
OPEC crude only production reached 33,237,000 barrels per day in August. This includes Gabon.
Overview of the Northern Deepwater Gulf of Mexico
by SouthLaGeo
The post that follows is a guest post by SouthLaGeo, a geologist with over 30 years of oil industry experience.
In this post, I will address 3 topics relating to the Northern Deepwater Gulf of Mexico –
1. Historical oil production
2. One view of the future of exploration
3. EUR ranges
I will limit my comments to oil production (not gas production). All production data is from BSEE/BOEM. The play outlines on the map are my best estimates. I will be using the BSEE definition of deepwater which includes water depths greater than 1000’. And, I will be assuming a Business As Usual future – by that I mean that fossil fuels will continue to be an important an energy source, and the world will continue to be able to afford them. Read More
Open Thread Non-Petroleum-Sept 4, 2016
Comments about climate change, and other topics not directly related to oil or natural gas in this thread please.
Has China reached Peak Oil?
Ron Patterson sends me the occasional e-mail when he sees something of interest. Portions of his email are below.
Dennis, I thought you might find this interesting.
http://www.wsj.com/articles/chinas-decline-in-oil-production-echoes-globally-1472122393
China’s Decline in Oil Production Echoes Globally
Aug. 25, 2016 6:53 a.m. ET
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BEIJING—China’s struggling oil sector has entered a challenging new phase: long-term decline of its domestic production.
Oil production in China likely peaked last year at around 4.3 million barrels a day, according to new data and interviews with industry executives. The development has significant implications globally, including the potential for higher crude prices over time as China steps up imports to meet rising demand at home.
“The turning point that we’ve been searching for, for years, is happening now,” said Kang Wu, vice chairman for Asia at energy consultancy FGE. As an oil producer, he said, “China is entering long-term stagnation and decline.” Read More