152 comments on DrumBeat: February 18, 2008
Comments can no longer be added to this story.
Show without comments | PDF version
152 comments on DrumBeat: February 18, 2008
Comments can no longer be added to this story.
Show without comments | PDF version
Search The Oil Drum with Google
Support The Oil Drum
Recently on TOD:World
TOD:Campfire
TOD:Europe
- Peak Gold, Easier to Model than Peak Oil? - Part I
- Carbon Capture and Storage
- Oilwatch Monthly November 2009
TOD:Canada
- In this house, we obey the laws of thermodynamics!
- The Round-Up: October 24, 2008
- Compressed Air Energy Storage - How viable is it?
TOD:Australia/NZ
- International Energy Agency calls 'Peak' on OECD Oil Demand
- Australian Senate: Peak Oil motion defeated 31:6
- The Bullroarer - Friday 20th November 2009
TOD:Net Energy
Blogroll
Energy Sites
- The Coming Global Oil Crisis
- Die Off
- Dry Dipstick
- Energy Bulletin
- From the Wilderness
- Life After the Oil Crash
- Peak Oil Crisis
- Peak Oil News and Message Boards
- Powerswitch
- Rigzone
- Matthew Simmons
- Wolf at the Door
Environment & Sustainability Sites
- The Daily Green
- EcoGeek
- Eco Street
- Green Car Congress
- Green Options
- green.alltop.com
- Gristmill
- RealClimate
- Sustainablog
- Treehugger
- WorldChanging
Blogs
- Casaubon's Book
- Cleantech Blog
- Clusterf
k Nation (Jim Kunstler) - The Cost of Energy
- David Strahan
- Early Warning
- The Energy Blog
- European Tribune
- GraphOilology
- Health After Oil
- jeffvail.net
- Mobjectivist
- Peak Energy (Australia)
- Peak Energy (USA)
- R-Squared
- Resource Insights
Finance & Economics Blogs
- The Big Picture
- Calculated Risk
- The Crash Course
- Ecological Economics
- Econbrowser
- Environmental Economics
- Infectious Greed
- The Mess That Greenspan Made
- Mish's Global Economic Trend Analysis
Organizations
Peak Oil Primers
Beware email scams!
Beware email scams claiming to be from this site. We do not have any job openings. If anyone contacts you about a job at The Oil Drum, do not reply to them, and definitely do not give them any personal information or send them money. Read more here.
“Any coward can fight a battle when he's sure of winning, but give me the man who has pluck to fight when he's sure of losing. That's my way, sir; and there are many victories worse than a defeat.”
—George Eliot
User login
Contact
- Content: editors at theoildrum dot com
- Tech support: support at theoildrum dot com
Personnel
- Editors: Nate Hagens, Gail the Actuary, Prof. Goose
- DrumBeat Editor: Leanan
- Contributors: ace, Engineer-Poet, Heading Out, jeffvail, JoulesBurn, Sam Foucher, Robert Rapier
- TOD:Campfire: Glenn, Jason Bradford
- TOD:Europe: Chris Vernon, Euan Mearns, Francois Cellier, Jerome a Paris, Luís de Sousa, Rembrandt, Rune Likvern, Ugo Bardi
- TOD:Canada: benk, Libelle
- TOD:ANZ: Big Gav, Phil Hart, aeldric
- Emeritus: Stuart Staniford
- Technician: Super G
License
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States License.










GAIA Host Collective
If we use what I believe is the Saudi's own number that their existing wells are declining at about -8%/year overall, they would need--in order to maintain their 2005 production rate of 9.6 mbpd (C+C)--about 2 mbpd of new production by the end of 2008.
Meanwhile, it appears that their domestic total liquids consumption will be growing by about 125,000 bpd to 250,000 bpd per year.
Their 2005 total liquids production rate was 11.1 mbpd (EIA). I estimate that if they wanted, and were able, in 2008 to match their 2005 net export level, they would have to boost 2008 total liquids production to about 11.7 mbpd.
They also claim to be mitigating the 8% decline down to 2% by pricking a few more holes. But that's just another number; without some evidence supporting it, a number is whatever you want it to be.
the saudi's always seem to leave part of the puzzle out. they list 500,000 bpd from Khursaniyah which is presumably all new production, an additional 250,000 from Shayban.
but what are Khurais and Manifa currently producing ?
From the point of view of importing countries, all that counts is net exported liquids, and in round numbers the Saudi 2006 net export decline rate was about -5%/year, and the 2007 number was probably on the order of -10%/year.
Note the decision by Lukoil (linked up top), allegedly in a pricing dispute, to halt crude oil exports to Germany. Russian production has basically been flat from 10/06 to 11/07 inclusive (EIA), while recent Russian reports indicate production declines. From the linked article:
key words and phrases: (not mentioned in any Euro-bilge text)
Kosovo
German/UK/French/fill in blank here / Recognition
Serbia / battle against Ottomans / 700 year old churches / etc
South Slavs
EC stupidity (under the aegis of multiculturalism and diversity)
Albanian knife/ drugs/sex slave merchants
And....
''I can do what the fook I like, any time I fookin like; just by turning this valve off .''. (that is the authentic voice of mother Russia speaking...)
Time to get real...
We have just created an independant Muslim state in Central Europe at the expense of Orthodox Christian Slavs who just happen to be supported by a nuclear tipped oil power.
Just watch this puppy run.
Dorme Bien.
Dig a shelter.
Regarding the start-up delay, I think they would actually gain credibility if they would just truthfully explain it. "Completing commissioning activities"? What, like building the podium? Finding the ribbon-cutting scissors?
The problem must be with something downstream of the wells. Haradh III was "commissioned" ahead of schedule, but at least 1 producer and 2 injectors were still being put in months later and only then was the field reportedly at capacity. Qatif has indications of even worse problems.