The Bakken and North Dakota production data is in.
Bakken production was down 19,502 bpd in August while all North Dakota was down 20,552 bpd.
The Bakken and North Dakota production data is in.
Bakken production was down 19,502 bpd in August while all North Dakota was down 20,552 bpd.
Oil and Gas thread Only. Please post comments on all other subjects on the “Other Subjects” thread below.
Russia oil output at post-Soviet high on foreign projects, Rosneft
Russian oil output, one of the world’s largest, reached a new post-Soviet monthly high of 10.74 million barrels per day (bpd) in September thanks to foreign-led projects and Rosneft, Energy Ministry data showed on Friday.
Output rose from 10.68 million bpd in August and eclipsed the previous record of 10.71 million bpd reached earlier this year, adding to a global glut that has battered oil prices.
This answers a question I have been asking for years, “why is Russian reported production always at least half a million barrels per day higher than EIA or JODI reported Russian production”? Russia is reporting foreign production as if it were produced in Russia! What if the United Kingdom were to do this? Then the BP Alaskan production and much of the production in the Gulf of Mexico would be reported as United Kingdom production. But then the US would get to count all the oil Exxon produces around the world.
Oil Production in Russia to Drop to 310Mln Tons by 2035
Oil production in Russia may fall to 310 million tons from the current 525 million tons by 2035 given a tougher tax regime amid low oil prices and sanctions, according to LUKoil Vice President Leonid Fedun.
That is a 2.6 percent drop per year. That’s what Lukoil is saying will happen if Russia keeps the current tax structure. Of course they are lobbying for a much lower tax rate, saying that is the only way they can have enough money to invest in enough new production to hold production to only a slight decline, down to only 502 million tons a year.
Hi Gang, I had expected the Texas RRC data today but it didn’t happen. I expect it Monday or Tuesday at the latest. I am continuing the experiment Dennis started a week or so ago. We have two open threads, one oil and gas only, the other any other related subject such as climate change of economic collapse.
This one is Oil and Gas only.
The North Dakota Industrial Commission has published the July production data for The Bakken and for all North Dakota.
Bakken production was down 5,430 barrels per day while all North Dakota was down 9,410 bpd.
Jean Laherrere sent me the below charts the other day. I had planned on posting them with more Bakken data. But my schedule has been busy so I am posting them alone.
The Hubbert Linearization puts the Bakken about half way to the end.