Tag Archives: oil production

BP’s Predictions for Energy Production in the Future

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So I suspect I should apologize. Here I am talking about the future projections for energy production that have been made by companies such as ExxonMobil and Shell, as though they were still the key and only players in the world. Yet, in reality, Saudi Aramco (12.5 mbdoe); Gazprom (9.7 mbdoe) and National Iranian Oil (6.4 mbdoe); appear in the list before ExxonMobil arrives (at 5.3 mbdoe), and then there is PetroChina (at 4.4 mbdoe) before BP arrives (at 4.1 mbdoe) and it is only then that we find Shell, which lies 7th at 3.9 mbdoe.

Read more: http://tinyurl.com/cwlsyvz

Ageing Giant Oil Fields still Dominate World Oil Production

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With all the talk about new oil discoveries around the world and new techniques for extracting oil in such places as North Dakota and Texas, it would be easy to miss the main action in the oil supply story: Aging giant fields produce more than half of global oil supply and are already declining as group. Research suggests that their annual production decline rates are likely to accelerate.

Read more: http://tinyurl.com/c3wn3qk

10 Billion Barrels of Oil Discovered in Kenya’s Cradle of Mankind

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The Cradle of Mankind is a Great Rift valley that runs through Kenya, created by separating tectonic plates, and so named due to the million-year old human remains that have been discovered there. They are not the only things that have been discovered there; oil drillers claim that preliminary tests suggest a string of fields in the area that could transform the country into a major oil producer.

Read more: http://tinyurl.com/cdckrmt