ROCKMAN wrote:Yes, case is as closed as your mind. LOL. So disappointing that you choose to criticize without looking at the easily discovered FACTS. If you're going to base your understand on Adam's unsupported OPINIONS you are truly doomed.
pstarr wrote:Sorry RM, but my stupid sarcasm overwhelmed my kindness. In my defense, I left a hint: bibo ergo sum == I drink therefore I am
pstarr wrote:If ever I base my understanding on Adam's unsupported opinions you have my permission to humiliate me with extreme prejudice
Zarquon wrote:http://www.energytrendsinsider.com/2016/07/29/why-i-am-skeptical-of-electric-vehicles/
"Consider that in the U.S., from 2014 to 2015, new car sales of conventional internal combustion vehicles increased from 16.5 million to 17.5 million. Yet EV sales in the U.S. actually decreased from 122,438 to 116,099. In other words, they have a very long way to go to even dent the growth in conventional new car sales, much less make an actual reduction in the fleet.
...
Globally, EV sales are running 43% ahead of last year’s pace. That’s far behind Norway’s blistering pace that failed to reduce oil consumption, and well behind the 60% growth rate assumed by the Bloomberg article to cause a 2 million bpd drop in demand by 2023. If they assumed a lower growth rate of 45% — still unreasonably high in my view — they don’t impact 2 million bpd of demand until 2028. That’s another 5 years of demand growth for oil, but also importantly another 5 years of depletion of existing fields. Oil demand won’t continue to grow forever, because ultimately depletion will catch up and force prices much higher. In that case, what will happen isn’t the price crash that Bloomberg predicted, it’s the exact opposite."
OSLO -- DNO ASA, the Norwegian oil and gas operator, has announced that the Peshkabir-2 well currently drilling in the Kurdistan region of Iraq has discovered oil in the Cretaceous horizon in the southern flank of Peshkabir field.
The well flowed at a stable rate of 3,800 bpd of 28° API oil on a 52/64 in. choke from an open hole test of a 170-m interval. Pressure data supported by observations of oil shows from cuttings and side wall cores indicate a Cretaceous oil interval in excess of 300 m.
Peshkabir-2 was spudded last October to explore the Cretaceous horizon and appraise the previously tested deeper Jurassic reservoir on a 2012 discovery, 18 km to the west of the company's flagship Tawke field. Following acquisition of new 3D seismic, Peshkabir-2 was originally planned for 2015 but delayed following the drop in world oil prices and interruption in payments for the company's production and exports from Kurdistan.
The well, currently drilling ahead of schedule and under budget, is expected to reach a total depth of 3,500 m and will be completed in the Jurassic by early February. Pre-spud estimates for drilling, open hole testing of the Cretaceous and completion stood at $17.5 million.
DNO is considering a number of options to step up appraisal of the new Cretaceous discovery, including a geological side-track in the central part of the Peshkabir structure or a third well. Options are also under consideration for possible early Peshkabir production and trucking to the company's gathering, processing and export facilities at Fish Khabur some 12 km away.
"We are very encouraged by what we have seen so far in this well," said Bijan Mossavar-Rahmani, executive chairman of DNO. "Certainly our subsurface and drilling teams have started the year on the right foot," he added.
DNO operates and holds a 55% working interest in the Tawke license, which holds Peshkabir field. Genel Energy and the Kurdistan Regional Government hold interests of 25% and 20%, respectively.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
according to Iraq’s national oil company, the State Organization for Marketing of Oil (SOMO), had disclosed plans as of December 8, nine days after agreeing to cut production, to increase deliveries of its Basra oil grades by about 7 percent to 3.53 million barrels a day compared with October levels.
To be sure, Iraq did come up with a convenient scapegoat when just days later it blamed the autonomous Kurdish region of exporting more than its allocated share of oil. As a reminder, as part of the deal, Iraq, OPEC's second largest producer, agreed to reduce output by 210,000 bpd to 4.351 million bpd. However, it immediately accused Kurdistan, over whose oil production Iraq's level of control is limited at best, of producing well more than its quota.
Just like last month, the country's State Oil Marketing Company (SOMO) announced plans to export 3.641 million barrels per day (bpd) of crude in February, according to trade sources and preliminary loading schedules obtained by Thomson Reuters on Tuesday, beating a record of 3.51 million bpd set in December. The February volume includes 2.748 million bpd of Basra Light and 893,000 bpd of Basra Heavy, the documents showed.
Reuters adds that for January, SOMO had planned to export 2.627 million bpd of Basra Light and 903,000 bpd of Basra Heavy. Basra crude accounts for the bulk of oil exports from Iraq.
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