118 comments on Peak oil: BP, Conoco CEOs say it's here - also IEA's Fatih Birol really freaks out
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118 comments on Peak oil: BP, Conoco CEOs say it's here - also IEA's Fatih Birol really freaks out
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These are great charts Jerome - it would be good to see them updated to 2007. These are the guys who promise us there is plenty oil and that increased recovery factors will save the day.
Its worth noting that the production boost that bp has comes from TNK - where BP's earnings are pegged to a relatively low $ / bbl - somewhere in the 20s I believe - so they don't get much benefit from high price from this part of there production. But the fact this is a very favourable deal for Russia means that BP may get to keep it. Production growth since 04 has come from improved reservoir management and de-bottlenecking. This is one reason why Exxon are still a larger company than BP by cap.