Showing posts with label Crude Oil. Show all posts

Thursday, 29 March 2012

Short Run Oil Prices

28-03-2012

Tuesday, 22 November 2011

Top Oil Producing Countries In The World

Production

In petroleum industry parlance, production refers to the quantity of crude extracted from reserves, not the literal creation of the product.

#	Producing Nation	10³bbl/d (2006)	10³bbl/d (2007)	10³bbl/d (2008)	10³bbl/d (2009)	Present Share
1	Saudi Arabia (OPEC)	10,665	10,234	10,782	9,760	11.8%
2	Russia ¹	9,677	9,876	9,789	9,934	12.0%
3	United States ¹	8,331	8,481	8,514	9,141	11.1%
4	Iran (OPEC)	4,148	4,043	4,174	4,177	5.1%
5	China	3,845	3,901	3,973	3,996	4.8%
6	Canada ²	3,288	3,358	3,350	3,294	4.0%
7	Mexico ¹	3,707	3,501	3,185	3,001	3.6%
8	United Arab Emirates (OPEC)	2,945	2,948	3,046	2,795	3.4%
9	Kuwait (OPEC)	2,675	2,613	2,742	2,496	3.0%
10	Venezuela (OPEC) ¹	2,803	2,667	2,643	2,471	3.0%
11	Norway ¹	2,786	2,565	2,466	2,350	2.8%
12	Brazil	2,166	2,279	2,401	2,577	3.1%
13	Iraq (OPEC) ³	2,008	2,094	2,385	2,400	2.9%
14	Algeria (OPEC)	2,122	2,173	2,179	2,126	2.6%
15	Nigeria (OPEC)	2,443	2,352	2,169	2,211	2.7%
16	Angola (OPEC)	1,435	1,769	2,014	1,948	2.4%
17	Libya (OPEC)	1,809	1,845	1,875	1,789	2.2%
18	United Kingdom	1,689	1,690	1,584	1,422	1.7%
19	Kazakhstan	1,388	1,445	1,429	1,540	1.9%
20	Qatar (OPEC)	1,141	1,136	1,207	1,213	1.5%
21	Indonesia	1,102	1,044	1,051	1,023	1.2%
22	India	854	881	884	877	1.1%
23	Azerbaijan	648	850	875	1,012	1.2%
24	Argentina	802	791	792	794	1.0%
25	Oman	743	714	761	816	1.0%
26	Malaysia	729	703	727	693	0.8%
27	Egypt	667	664	631	678	0.8%
28	Colombia	544	543	601	686	0.8%
29	Australia	552	595	586	588	0.7%
30	Ecuador (OPEC)	536	512	505	485	0.6%
31	Sudan	380	466	480	486	0.6%
32	Syria	449	446	426	400	0.5%
33	Equatorial Guinea	386	400	359	346	0.4%
34	Thailand	334	349	361	339	0.4%
35	Vietnam	362	352	314	346	0.4%
36	Yemen	377	361	300	287	0.3%
37	Denmark	344	314	289	262	0.3%
38	Gabon	237	244	248	242	0.3%
39	South Africa	204	199	195	192	0.2%
40	Turkmenistan	No data	180	189	198	0.2%

Source: U.S. Energy Information Administration
¹ Peak production of conventional oil already passed in this state
² Although Canadian conventional oil production is declining, total oil production is increasing as oil sands production grows. If oil sands are included, it has the world's second largest oil reserves after Saudi Arabia.
³ Though still a member, Iraq has not been included in production figures since 1998

Top Oil Consuming Countries In The World

Oil Consumption: Top Oil Consuming Countries In The World

Mar 25, 2010

The consumption of oil in the world is 99,566,882 billion barrel per day till 2009. United States is the largest oil consuming country in the world.

United States:- Daily oil consumption in USA is 19.8 million bbl(billion barrel) per day. It may be a surprise to know that according to the 2009 facts, US is the number one oil consuming country with fifty-five percent of the oil it produces from her own domestic reserves. Forty percent of the oil used in America is used to power personal vehicles, 70% if you include trucks.

China:- China is the world’s second largest oil consuming country with 7.8 million bbl/day. In 2007, it imported 145 million tons of crude oil, accounting for 47% of its total oil consumption. Three state-owned oil companies- Sinopec, CNPC and CNPPC, dominate its domestic market. The Chinese government has already set tougher emission standards on automobiles than most countries including the U.S.

Japan:- Japan ranked third word’s oil consuming country with oil consumption of 4.6 million bbl/day. Japan leads the pack in innovation and best use of energy. Having few natural resources the whole nation is obsessed with energy conservation. It is also the world’s fourth largest exporter and fifth largest importer of different manufactured and non-manufactured products.

Russia:- Russia is the Fourth world’s largest oil consuming country with 2.8 million bbl/day. Russia is the one of the top five states who produces more than its uses. Russia is also known as an energy superpower of the top five consumers of oil, the Unties State, China, Japan, Russia and Germany. Out of these five only Russia has enuogh domestic resources to meet its needs.

India:- India is the fifth largest oil consuming country with 2.67 million bbl/day. The combination of oil consumption and relatively flat production has left India increasingly dependent on imports to meet its petroleum demand. In terms of oil use, transportation is the largest sector with highest consumption.

South Korea Oil Consuming Countries Photo

Germany:- Germany is the world’s sixth largest oil consuming country with 2.569 million bbl/day consumption. In 2008, it consumed energy from the following sources: oil (34.8%) and natural Gas (22.1%). Germany is one of the largest exporter of goods in the world and it comsumes a lots of oil in industrial sector.

Brazil:- Brazil is the world’s seventh oil consuming country with 2.52 million bbl/day. It is the world’s largest oil consumer with much of its energy coming from renewable sources, which is mainly produced from oil and natural gas. It is expected to become a major oil producer and exporter, having made huge oil discoveries recently.

Saudi Arabia:- Saudi Arabia is the world’s eighth largest oil consumer with 3.38 million bbl/day oil consumption. Saudi Arabia’s economy is petroleum-based, roughly 75% of budget revenues and 90% of export earnings come from the oil industry. Saudi Arabia is also the largest exporter of petroleum in the world.

Canada:- Canada is the ninth world’s largest oil consumer with a cosumption of 2.26 million bbl/day. Canada is one of the few developed nations that are net exporters of energy. Canada is one of the world’s largest suppliers of agricultural products.

Oil consumption per capita (darker colors represent more consumption)

This table orders the amount of petroleum consumed in 2008 in thousand barrels (bbl) per day and in thousand cubic metres (m³) per day:^[40]^[41]^[42]

Consuming Nation 2008	(1000 bbl/day)	(1000 m³/day)	population in millions	bbl/year per capita
United States ¹	19,497.95	3,099.9	314	22.6
China	7,831.00	1,245.0	1345	2.1
Japan ²	4,784.85	760.7	127	13.7
India ²	2,962.00	470.9	1198	0.9
Russia ¹	2,916.00	463.6	140	7.6
Germany ²	2,569.28	408.5	82	11.4
Brazil	2,485.00	395.1	193	4.7
Saudi Arabia (OPEC)	2,376.00	377.8	25	33.7
Canada	2,261.36	359.5	33	24.6
South Korea ²	2,174.91	345.8	48	16.4
Mexico ¹	2,128.46	338.4	109	7.1
France ²	1,986.26	315.8	62	11.6
Iran (OPEC)	1,741.00	276.8	74	8.6
United Kingdom ¹	1,709.66	271.8	61	10.1
Italy ²	1,639.01	260.6	60	10

Source: US Energy Information Administration

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2174rank.html

Korea, South:- Korea is the tenth world’s oil consuming nation with total consumption of oil 2.175 million bbl/day. It is also Asia’s largest oil exporter and have the world’s largest oil refinery owned by SK energy. South Korea is the world sixth largest nuclear power producer and the second in Asia. It’s mostly oil consumption in transport sector.

Monday, 21 November 2011

Crude Oil Arguments

Are taxes or crude oil prices to blame for expensive petrol?

Feb 16th 2011, 17:50 by The Economist online

PETROL prices have risen steeply in rich countries, triggering heated arguments about whom or what is to blame.

America’s energy department recently blamed a jump in petrol prices of 3.1 cents per gallon in the space of seven days on the political unrest in Egypt affecting crude oil prices.

Japan’s government blamed the high price of crude oil for its tenth weekly price increase at the pump.

The British government has given the same explanation for price increases averaging 15% in the year to January.

But with the oil price still at only two-thirds of its peak in mid-2008, this is not the only cause —as the three charts below show.

Thursday, 6 October 2011

Crude Oil Inventories

Friday, 26 August 2011

Crude Oil Dash Board

Crude Oil 1996-2010

New York Mercantile Exchange prices for West Texas Intermediate 1996 - 2010

Crude Oil Prices 1869-2009

Export & Impot of Crude Oil

Export

In order of net exports in 2009 and 2006 in thousand bbl/d and thousand m³/d:

#	Exporting Nation	10³bbl/d (2009)	10³m³/d (2009)	10³bbl/d (2006)	10³m³/d (2006)
1	Saudi Arabia (OPEC)	7,322	1,164	8,651	1,376
2	Russia ¹	7,194	1,144	6,565	1,044
3	Iran (OPEC)	2,486	395	2,519	401
4	United Arab Emirates (OPEC)	2,303	366	2,515	400
5	Norway ¹	2,132	339	2,542	404
6	Kuwait (OPEC)	2,124	338	2,150	342
7	Nigeria (OPEC)	1,939	308	2,146	341
8	Angola (OPEC)	1,878	299	1,363	217
9	Algeria (OPEC) ¹	1,767	281	1,847	297
10	Iraq (OPEC)	1,764	280	1,438	229
11	Venezuela (OPEC) ¹	1,748	278	2,203	350
12	Libya (OPEC) ¹	1,525	242	1,525	242
13	Kazakhstan	1,299	207	1,114	177
14	Canada ²	1,168	187	1,071	170
15	Qatar	1,066	169	-	-
-	Mexico ¹	1,039	165	1,676	266

Source: US Energy Information Administration
¹ peak production already passed in this state
² Canadian statistics are complicated by the fact it is both an importer and exporter of crude oil, and refines large amounts of oil for the U.S. market. It is the leading source of U.S. imports of oil and products, averaging 2,500,000 bbl/d (397,000 m³/d) in August 2007. [2].
Total world production/consumption (as of 2005) is approximately 84 million barrels per day (13,400,000 m³/d).

Import

In order of net imports in 2009 and 2006 in thousand bbl/d and thousand m³/d:

#	Importing Nation	10³bbl/day (2009)	10³m³/day (2009)	10³bbl/day (2006)	10³m³/day (2006)
1	United States ¹	9,631	1,531	12,220	1,943
2	China ²	4,328	688	3,438	547
3	Japan	4,235	673	5,097	810
4	Germany	2,323	369	2,483	395
5	India	2,233	355	1,687	268
6	South Korea	2,139	340	2,150	342
7	France	1,749	278	1,893	301
8	United Kingdom	1,588	252	-	-
9	Spain	1,439	229	1,555	247
10	Italy	1,381	220	1,558	248
11	Netherlands	973	155	936	149
12	Republic of China (Taiwan)	944	150	942	150
13	Singapore	916	146	787	125
14	Turkey	650	103	576	92
15	Belgium	597	95	546	87
-	Thailand	538	86	606	96

Source: US Energy Information Administration
¹ peak production of oil already passed in this state^{[citation needed]}
² Major oil producer whose production is still increasing^{[citation needed]}

[edit] Non-producing consumers

Countries whose oil production is 10% or less of their consumption.

#	Consuming Nation	(bbl/day)	(m³/day)
1	Japan	5,578,000	886,831
2	Germany	2,677,000	425,609
3	South Korea	2,061,000	327,673
4	France	2,060,000	327,514
5	Italy	1,874,000	297,942
6	Spain	1,537,000	244,363
7	Netherlands	946,700	150,513
8	Turkey	575,011	91,663

Source: CIA World Factbook

Petroleum

Petroleum (L. petroleum, from Greek: petra (rock) + Latin: oleum (oil)[1]) or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling. This latter stage comes after the studies of structural geology (at the reservoir scale), sedimentary basin analysis, reservoir characterization (mainly in terms of porosity and permeable structures).[2][3] It is refined and separated, most easily by boiling point, into a large number of consumer products, from petrol and kerosene to asphalt and chemical reagents used to make plastics and pharmaceuticals.[4] Petroleum is used in manufacturing a wide variety of materials

Proven world oil reserves, 2009

Etymology

The term petroleum was found (in the spelling "petraoleum") in 10th-century Old English sources.^[5] It was used in the treatise De Natura Fossilium, published in 1546 by the German mineralogist Georg Bauer, also known as Georgius Agricola.^[6] In the 19th century, the term petroleum was frequently used to refer to mineral oils produced by distillation from mined organic solids such as cannel coal (and later oil shale), and refined oils produced from them; in the United Kingdom, storage (and later transport) of these oils were regulated by a series of Petroleum Acts, from the Petroleum Act 1862 c. 66 onward.

Composition

In its strictest sense, petroleum includes only crude oil, but in common usage it includes all liquid, gaseous, and solid (e.g., paraffin) hydrocarbons. Under surface pressure and temperature conditions, lighter hydrocarbons methane, ethane, propane and butane occur as gases, while pentane and heavier ones are in the form of liquids or solids. However, in an underground oil reservoir the proportions of gas, liquid, and solid depend on subsurface conditions and on the phase diagram of the petroleum mixture.^[7]
An oil well produces predominantly crude oil, with some natural gas dissolved in it. Because the pressure is lower at the surface than underground, some of the gas will come out of solution and be recovered (or burned) as associated gas or solution gas. A gas well produces predominantly natural gas. However, because the underground temperature and pressure are higher than at the surface, the gas may contain heavier hydrocarbons such as pentane, hexane, and heptane in the gaseous state. At surface conditions these will condense out of the gas to form natural gas condensate, often shortened to condensate. Condensate resembles petrol in appearance and is similar in composition to some volatile light crude oils.
The proportion of light hydrocarbons in the petroleum mixture varies greatly among different oil fields, ranging from as much as 97% by weight in the lighter oils to as little as 50% in the heavier oils and bitumens.

Element	Percent range
Carbon	83 to 87%
Hydrogen	10 to 14%
Nitrogen	0.1 to 2%
Oxygen	0.05 to 1.5%
Sulfur	0.05 to 6.0%
Metals	< 0.1%

Crude oil varies greatly in appearance depending on its composition. It is usually black or dark brown (although it may be yellowish, reddish, or even greenish). In the reservoir it is usually found in association with natural gas, which being lighter forms a gas cap over the petroleum, and saline water which, being heavier than most forms of crude oil, generally sinks beneath it. Crude oil may also be found in semi-solid form mixed with sand and water, as in the Athabasca oil sands in Canada, where it is usually referred to as crude bitumen. In Canada, bitumen is considered a sticky, black, tar-like form of crude oil which is so thick and heavy that it must be heated or diluted before it will flow.^[10] Venezuela also has large amounts of oil in the Orinoco oil sands, although the hydrocarbons trapped in them are more fluid than in Canada and are usually called extra heavy oil. These oil sands resources are called unconventional oil to distinguish them from oil which can be extracted using traditional oil well methods. Between them, Canada and Venezuela contain an estimated 3.6 trillion barrels (570×10⁹ m³) of bitumen and extra-heavy oil, about twice the volume of the world's reserves of conventional oil.^[11]
Petroleum is used mostly, by volume, for producing fuel oil and petrol, both important "primary energy" sources.^[12] 84% by volume of the hydrocarbons present in petroleum is converted into energy-rich fuels (petroleum-based fuels), including petrol, diesel, jet, heating, and other fuel oils, and liquefied petroleum gas.^[13] The lighter grades of crude oil produce the best yields of these products, but as the world's reserves of light and medium oil are depleted, oil refineries are increasingly having to process heavy oil and bitumen, and use more complex and expensive methods to produce the products required. Because heavier crude oils have too much carbon and not enough hydrogen, these processes generally involve removing carbon from or adding hydrogen to the molecules, and using fluid catalytic cracking to convert the longer, more complex molecules in the oil to the shorter, simpler ones in the fuels.
Due to its high energy density, easy transportability and relative abundance, oil has become the world's most important source of energy since the mid-1950s. Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, and plastics; the 16% not used for energy production is converted into these other materials. Petroleum is found in porous rock formations in the upper strata of some areas of the Earth's crust. There is also petroleum in oil sands (tar sands). Known oil reserves are typically estimated at around 190 km³ (1.2 trillion (short scale) barrels) without oil sands,^[14] or 595 km³ (3.74 trillion barrels) with oil sands.^[15] Consumption is currently around 84 million barrels (13.4×10⁶ m³) per day, or 4.9 km³ per year. Which in turn yields a remaining oil supply of only about 120 years, if current demand remain static.

The hydrocarbons in crude oil are mostly alkanes, cycloalkanes and various aromatic hydrocarbons while the other organic compounds contain nitrogen, oxygen and sulfur, and trace amounts of metals such as iron, nickel, copper and vanadium. The exact molecular composition varies widely from formation to formation but the proportion of chemical elements vary over fairly narrow limits as follows:

Composition by weight

Carbon	83 to 87%
Hydrogen	10 to 14%
Nitrogen	0.1 to 2%
Oxygen	0.05 to 1.5%
Sulfur	0.05 to 6.0%
Metals	< 0.1%

Management