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Page added on September 25, 2013

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US shale oil hides crude oil peak in rest of world

US shale oil hides crude oil peak in rest of world thumbnail

Recent US shale oil growth sits on top of a bumpy production plateau of the rest-of-the-world (ROW).

Other Middle East (Syria, Yemen, Oman) was in long term decline until 2007.  Just when Oman experienced a rebound, did production in Syria and Yemen collapse due to civil unrest which was at least in part caused by production having peaked in these countries. Iran’s production drop due to sanctions could not be offset by production gains in Iraq. Saudi production increased in response to Libya’s production losses. Despite production spikes, Saudi’s average crude production 2006-2013 was 450 kb/d lower than in 2005!
 In full decline. Temporary drops are maintenance periods.
 It seems to get ever harder to increase production. Azerbaijan has maxed out.
 Africa has peaked.
Chinese crude production increased by just 1 mb/d over a long period of 12 years, basically offsetting steady decline in the rest of Asia.
Crude production in Brazil had a maximum in January 2012. Colombia has a hard time to increase production. Venezuela’s production remains on exactly the same plateau for several years, suggesting that the data may not be accurate.
While Mexico’s production has peaked, US shale oil and Canada’s syncrude from tar sands are increasing.
The world outside the US and the Middle East peaked in Jan 2011 at 40.9  mb/d , marked by the production drops during the Libya civil war. The world now depends on what will happen in the Middle East and when US shale oil will peak.

Crude Oil Peak



3 Comments on "US shale oil hides crude oil peak in rest of world"

  1. bobinget on Wed, 25th Sep 2013 3:50 pm 

    As in the UK some nations will eschew fracking.
    Others, because grandpa’s methods worked for six decades will, because of lack of funding, do little in the way of research and development. This is exactly the niche market GE is looking at.

    Can GE Make Fracking Safer?

    Benefit From the Latest Energy Trends and Investment Opportunities before the mainstream media and investing public are aware they even exist. The Free Oilprice.com Energy Intelligence Report gives you this and much more. Click here to find out more.
    In three years, General Electric Co. has gone from only dabbling in oil and gas to investing a whopping $15 billion in the sector, with an eye for diversity and new technology—not drilling and producing.

    The bottom line is that hydraulic fracking has opened a number of new doors for GE, so much so that GE Oil & Gas is becoming the company’s fastest-growing department. Select the reports you are interested in:NO-SPAM: Under no circumstances will we EVER rent, sell or give away your email

    What GE Oil & Gas seems to be taking advantage of is the opportunity here to improve fracking by adapting existing technology and creating new technology to make fracking more manageable and remove environmental concerns. It’s a strategy that attempts to capture a major share of the fracking market from all angles.

    Related article: German Brewers Enter Fracking Fray

    GE’s new fracking portfolio hopes to actually complement its renewable energy and nuclear energy portfolio. If Obama’s energy plan is “all of the above”, GE’s business strategy seems to mirror this—and investors like it.

    Environmentalists also seem to like GE, and are particularly eyeing its newest investment plan to pour billions of dollars into a new research facility in Oklahoma that will further its agenda of leading the pack in cutting-edge energy science that seeks to dull some of the potentially harmful impacts of fracking.

    For the environmentalists, what’s important here is GE’s ambition to improve fracking wastewater cleanup and reduce air pollution related to drilling.

    In a recent interview with Fox News, Mark Little—a GE senior vice-president, described the company’s strategy as considering “minds and machines together”. By this he means that aided by GE technology, people can actually see what’s going on below the surface in a well in real time. So the trick to developing new technology is gathering more information and understanding that technology must be constantly improving with human benefit in mind.

    In fact, GE’s Oklahoma facility is so attractive that it’s got the state’s energy secretary, Michael Ming, to announce in early May that he would step down from his position by the end of this month in order to take over the leadership of GE’s new oil-and-gas-focused Global Research Center.

    Related article: Fracking Invades SE Asia – Indonesia Concludes First Shale Gas Contract

    “The decision to locate this new, state of the art facility in Oklahoma is a huge victory for the state,” Ming said in a statement. “GE’s Global Research Center will spur economic growth and continue to enhance Oklahoma’s reputation as a global hub for energy companies.”

    The Oklahoma center is the just latest to be added to the GE research portfolio: The company has seven other research centers and more than 50,000 scientists and engineers on its payroll. But this difference this time is that the Oklahoma center will focus specifically on oil and gas.

    As GE delves into the oil and gas sector with a certain pioneering relentlessness, and an increasing penchant for major offshore oil and gas technology (think subsea), it is carving itself a niche that is forward-thinking and diverse enough to put investors at ease.

    By. Jen Alic of Oilprice.com

  2. mo on Wed, 25th Sep 2013 7:32 pm 

    Is this a commercial for ge?

  3. BillT on Thu, 26th Sep 2013 4:09 am 

    mo, yep! GE ‘brings good things to life’ … like Fukushima and 30 some of it’s cousins in the US alone. GE is one of the world’s most successful destroyers of life.

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