Articles tagged with "Euan Mearns"
Posted by Euan Mearns on January 11, 2012 - 11:22am
Tags: euan mearns, exxonmobil, gulf keystone petroleum, iraq, kirkuk ceyhan pipeline, kurdistan, petroceltic, shaikan field [list all tags]
Whilst much of Iraq may be viewed as in a metastable social and political state, the semi autonomous northern region of Kurdistan has enjoyed relative peace for a number of years. This has enabled the regional government to develop oil exploitation laws and to lease much of the land to foreign exploration and production companies.
Regional operator Gulf Keystone Petroleum has been involved in the discovery of the Shaikan Field, believed to hold between 8 and 13.4 billion barrels in place with appraisal of this giant (potential supergiant) ongoing. Gulf Keystone Petroleum believes that Iraqi Kurdistan may hold 45 billion barrels of oil reserves (recoverable?) lending some credibility to Iraqi claims of 115 billion barrels reserves for the whole country. This compares with a total of 53 billion barrels of oil produced from the North Sea up to the end of 2010.
Disclaimer The author has recently purchased stock in Gulf Keystone Petroleum and Petroceltic whose company presentational materials provide the backbone of this post. Readers need to be aware that information contained in corporate presentations is not necessarily reliable, although companies listed on the London Stock Exchange are regulated and need to be cautious about what they say. For example, Gulf Keystone's reports on reserves on the Shaikan Field have been audited independently by oil and gas field auditors Ryder Scott and Dynamic Global Advisors.
Posted by Euan Mearns on October 17, 2011 - 10:02am
Tags: $100 oil, bank of england, debt, energy efficiency, energy policy, euan mearns, financial times, insolvency, interest rates, iranian revolution, m. king hubbert, oecd, peak oil [list all tags]
David Cameron describes the economic downturn as "no normal recession" UK Prime Minister David Cameron to party conference, 5th October 2011.
This is the fourth post in the series following the oil price, markets and general health of the global economy examining the simple theory that OECD recession may result from annual average oil price exceeding $100 / bbl.
The annual average price (AAP) of Brent went through $100 on around 16th August 2011 and the AAP stood at $105.3 on 12th October. The AAP high point in the 2008 price spike was $104.8 on 9th October that year.
Below the fold are observations and commentary on debt, economic growth, interest rates, commodities prices and government policy. This is not intended to be quantitative analysis but instead is intended to provide a platform for discussion in the comments.
The 9th International ASPO Conference will take place in Brussels, Belgium from 27 to 29 April 2011. Based on the theme of "European Energy Policy in an era of expensive energy" ASPO 9 will cover a wide range of topics related to fossil fuel depletion. The conference will zoom in on consequences of diminishing oil exports to importing nations, the availability of natural gas, unconventional supplies of oil, gas, and coal, effects of high oil prices on the economy and agriculture, Integrating Renewable Energy Sources into the electricity grid, and European energy policy.
The conference includes over 45 speakers with talks by Oil Drum Contributors Euan Mearns and David Murphy. Conference details and the full program can be found below the fold. Detailed information is also available via the conference website www.aspo9.be