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166 comments on DrumBeat: February 15, 2007

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Leanan on February 15, 2007 - 9:32am Permalink | Subthread | Parent | Comments top

I didn't post this one up top, because it's subscription-only, but maybe someone who has a subscription can give us details...

Aramco Adds More Projects to Upstream Push

State giant Saudi Aramco has started planning long-term expansions at three oil fields -- Shaybah, Berri and Safaniyah -- adding to its current slate of huge projects, according to details of internal plans obtained by International Oil Daily.

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Stoneleigh on February 15, 2007 - 10:50am Permalink | Subthread | Parent | Comments top

Greenspan on oil

He did however warn that oil supply is precarious and susceptible to disruption. That's because undeveloped reserves take so long to bring into production that even small troubles mean large movements in prices. "We're treading on the edge in which any minor catastrophe creates a spike in prices," he said. He added that a sharp turn in supply would have "a very major impact on global economic activity," because the world is "addicted to oil."

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