March 2007

Following a summary of EIA data for 2006, I thought I would make a more detailed country-by-country estimate of the potential for 2007. Starting with the headline EIA figures for last year:

Crude Oil and Condensate: 73.5 Mb/d (down 0.2)
Natural Gas Liquids (NGLs): 7.9 Mb/d (up 0.14)
Other Liquids: 3.3 Mb/d (up 0.08)
Total Liquids: 84.6 Mb/d (up an insignificant 0.02)

Mb/d = million barrels per day
kb/d = thousand barrels per day


Review of EIA oil data for 2006

Oil prices set new records and the industry maintained a historically high level of activity in 2006. Energy agencies issued consensus forecasts that production would rise. Yet crude oil production was down and total liquids production was flat. The economists should be shaking in their boots.


Did you know I write for The Age?

All those folks who think I should get a real job can go jump.
I'm famous now.. two articles in 'The Age' in the space of five days.

Read all about it:

Oil Companies Running Hard to Stand Still:
The Age, Business Section back page, Friday 16th March 2007.

Esso/BHP could put carbon under sea:
The Age, Business Section, Tuesday 20th March 2007.