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Energy / Crude Oil

In Another Great Leap Forward, Chinese Firm Finds Oil in Thailand's Northeast

In Another "Great Leap Forward," Chinese Firm Finds Oil in Thailand's Northeast

Jan 19, 2012 at 18:30 | John Daly

As seemingly omnivorous Chinese energy firms encircle the globe looking for exploitable hydrocarbon reserves, one firm is searching close to home. Shaanxi Yanchang Petroleum Corp. Ltd has started exploring…

Saudi Arabia's Rising Domestic Oil Consumption to Threaten Exports?

Saudi Arabia's Rising Domestic Oil Consumption to Threaten Exports?

Jan 11, 2012 at 17:30 | John Daly

Saudi Arabia is currently the world’s leading oil producer, containing approximately one-fifth of the world's proven oil reserves. According to the U.S. Energy Information Agency, Saudi Aramco reported that it…

Kurdistan's Huge Oil Reserves Lend Credibility to Iraqi Claims of 115 Billion Barrels

Kurdistan's Huge Oil Reserves Lend Credibility to Iraqi Claims of 115 Billion Barrels

Jan 10, 2012 at 17:10 | The Oil Drum

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.…

Former IEA Oil Expert: Oil Production Could Begin to Decline in 2015

Former IEA Oil Expert: Oil Production Could Begin to Decline in 2015

Jan 09, 2012 at 08:08 | The Oil Drum

The following interview is a guest post by Matthieu Auzanneau, a freelance journalist living in Paris. This article previously appeared in Le Monde.Olivier Rech developed petroleum scenarios for…

How Will Peak Oil Fare in 2012

How Will Peak Oil Fare in 2012

Jan 09, 2012 at 08:00 | Post Carbon

The returns are in and we now know that world price of a barrel of oil averaged $111 in 2011. This was up 14 percent from last year and well…

Nigeria Ends Fuel Subsidies in Face of Protest Threats

Nigeria Ends Fuel Subsidies in Face of Protest Threats

Jan 02, 2012 at 17:10 | John Daly

In a nasty New Year’s Day present to his fellow Nigerians, President Goodluck Jonathan directed his administration to end fuel subsidies, effective immediately. Petroleum Products Pricing Regulatory Agency issued a…

U.S. Net Exporter of Petroleum Products - A Look at the Numbers

U.S. Net Exporter of Petroleum Products - A Look at the Numbers

Dec 29, 2011 at 09:03 | James Hamilton

One big story of 2011 was the United States switched from being a net importer to a net exporter of petroleum products. Here are the details behind that development. The…

Massive Oil Field Discovered in the North Sea

Massive Oil Field Discovered in the North Sea

Dec 28, 2011 at 15:24 | The Oil Drum

With relatively little fanfare on the international stage, Lundin Petroleum and Statoil (and partners) have just recently jointly discovered one of the largest oil fields ever found in the North…

The Falklands - Is There Oil?

The Falklands - Is There Oil?

Dec 23, 2011 at 20:48 | John Daly

On 13 December British-based oil and gas exploration company Rockhopper Exploration Plc announced that a new well proved its Sea Lion field 80 miles off the Falklands coast is bigger…

A Severe Decrease in Oil Supply Could Devastate the World Population

A Severe Decrease in Oil Supply Could Devastate the World Population

Dec 19, 2011 at 19:30 | Professor Chris Rhodes

The ownership of the largest deposits of oil, notably in the former U.S.S.R., e.g. Siberia and Kazakhstan and the Caspian region generally, in addition to the fields in the Middle…

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