Category: Uncategorized

OPEC August Crude Oil Production

Ron Patterson 155 Comments

All data below is based on the latest OPEC Monthly Oil Market Report.

All data is through August 2017 and is in thousand barrels per day.

The above chart does not include the 14th member of OPEC that was just added, Equatorial Guinea. I do not have historical data for Equatorial Guinea so I may not add them at all.  OPEC production has held steady for the past three months. Their production was down 79,000 barrels per day in August but that is not a big drop when production is over 32.5 million barrels per day.

Read More

GoM June Production Update

George Kaplan 93 Comments

A Guest Post by George Kaplan

Production

Production for June by BOEM was 1631 kbpd and by EIA 1636, compared with 1673 and 1659 kbpd, respectively, in May. The decline was mostly from Thunder Horse going offline and Constitution staying offline. Hurricane Cindy didn’t seem to have much of an impact, things will be different for the impact of Harvey on August figures.

Even with the two offline facilities coming back July numbers will struggle to beat those for March, and after that the depletion declines and hurricane disruptions take over. Note that the “others” area includes any assumptions BOEM has made to allow for missing data, which is quite a lot this month.

chart/

Read More

Norway Oil and Gas: Reserves, Production and Future Projection

George Kaplan 115 Comments

A guest post by George Kaplan

Norwegian oil production peaked in 2000 to 2001; gas production may be peaking about now. Oil hit a low in 2013 and then recovered towards a new local peak, probably concurrent with the gas.

Drilling and Development

The most surprising thing I find with their industry is that the drop in oil price made almost no difference the drilling activity shown here (all data here and below taken from the NPD – Norwegian Petroleum Directorate – which provides more data than just about any other such organisation).

chart/

The chart shows numbers of wells drilled, as stacked bars, and number of operating rigs (unstacked) against the left hand axis, other curves are ratios of total against the right axis. Read More