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192 comments on DrumBeat: April 2, 2007

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Leanan on April 2, 2007 - 9:07am Permalink | Subthread | Comments top

I didn't post this up top, because it's subscription-only. It's interesting, though...

From PIW:

In contrast to the gradual rise in global oil reserves that has been reported annually in most surveys based on public sources, the first PIW Reserves Survey shows that the trend in worldwide liquids reserves is actually one of stagnation and modest decline. The new survey uses a somewhat broader definition of reserves and applies it consistently across all countries, based upon recent historical figures from upstream data experts IHS.

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Darwinian on April 2, 2007 - 11:50am Permalink | Subthread | Parent | Comments top

PIW, Petroleum Intelligence Weekly, was the one who reported Kuwaiti reserves were about one quarter to one half of what Kuwait was reporting officially:

But it said the data it had seen show that of the current remaining 48 billion barrels of proven and non-proven reserves, only about 24 billion barrels are so far fully proven -- 15 billion in its biggest oilfield Burgan.
http://today.reuters.com/news/articlebusiness.aspx?type=tnBusinessNews&s...

PIW seems to be telling it like it is instead of what BP, IES, EIA and others are doing, telling the people what they want to hear.

Ron Patterson

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192 comments on DrumBeat: April 2, 2007

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