More ”Peak of the Oil Age” and The Guardian; Peak oil: the summit that dominates the horizon

Posted on November 29, 2009

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The debate on “Peak Oil” continues today with full force in The Guardian. Today’s article is, once again, written by the newspaper’s energy editor Terry Macalister and is titled, Peak oil: Peak oil: the summit that dominates the horizon .

Among other things, Mr Macalister discusses the difficulties that the international oil companies have with replacing their annual production with new finds. This problem was discussed in 2007 in Fredrik Robelius’ thesis, Giant Oil Fields – The Highway to Oil: Giant Oil Fields and their Importance for Future Oil Production (page 115):

“Since 1997 the four companies (BP, Chevron, Exxon-Mobil and Royal Dutch/Shell) have together produced about 8.6Mbpd each year. This is despite an increase in the oil price from the low in 1998 of less than 13 dollar per barrel to over 50 dollar per barrel in 2005. From 1997, with the exemption of 1999, and up to 2002, the reserve additions were larger than the produced volumes of oil (figure 7.16). But when the price started to increase in 2003, the reserve additions dropped below the produced volumes. Thus, reserve replacement is negative and the companies produces from old discoveries, just as the world as a whole (chapter 5). To summarize, the four largest private oil companies have not succeeded in increasing neither production nor reserves despite an increase of the oil price and increased investments in exploration and production.”

At the end of the article, those activities that are now underway to open the eyes of the British government are discussed.

(Swedish)

Debatten on ”Peak Oil” fortsätter idag med full kraft i The Guardian. Dagens artikel är på nytt skriven av Terry Macalister, som är tidningens energiredaktör, och har titeln: Peak oil: the summit that dominates the horizon .

Han diskuterar bland annat de svårigheter som de internationella oljebolagen har att ersätta årets produktion med nya fyndigheter. Problemet diskuterades redan 2007 i Fredrik Robelius avhandling: Giant Oil Fields – The Highway to Oil: Giant Oil Fields and their Importance for Future Oil Production (page 115):

“Since 1997 the four companies (BP, Chevron, Exxon-Mobil and Royal Dutch/Shell) have together produced about 8.6Mbpd each year. This is despite an increase in the oil price from the low in 1998 of less than 13 dollar per barrel to over 50 dollar per barrel in 2005. From 1997, with the exemption of 1999, and up to 2002, the reserve additions were larger than the produced volumes of oil (figure 7.16). But when the price started to increase in 2003, the reserve additions dropped below the produced volumes. Thus, reserve replacement is negative and the companies produces from old discoveries, just as the world as a whole (chapter 5). To summarize, the four largest private oil companies have not succeeded in increasing neither production nor reserves despite an increase of the oil price and increased investments in exploration and production.”

Avslutningsvis diskuteras de aktiviteter som nu pågår för att öppna ögonen på den brittiska regeringen.

Posted in: Dagsaktuellt