Browsing All Posts published on »November, 2014«

The 2014 Oil Price Crash Explained

November 27, 2014


Euan Mearns was one of the author on the Oil drum. He has now written an article about the oil price crash. You can read the first part hear but for the whole story you have to go to his blog. The 2014 Oil Price Crash Explained In February 2009 Phil Hart published on The […]

200 billion barrels of new oil production is needed by 2030

November 22, 2014


This 21 November the world’s oil analysts are attempting to guess what OPEC will decide at its meeting in Vienna on 27 November. Before each OPEC meeting Bloomberg News asks a number of analysts their opinions on OPEC’s future oil production. Yesterday Bloomberg News published what 20 analysts think regarding the 27 November meeting. Half […]

Fram till år 2030 behövs det ny olja motsvarande 200 miljarder fat

November 21, 2014


Nu den 21 november försöker världens oljeanalytiker att gissa vad OPEC skall besluta vid sitt möte i Wien den 27 november. Inför varje OPEC-möte frågar Bloomberg News ett antal analytiker om deras åsikt vad det gäller OPEC:s framtida produktion. Igår publicerade de vad 20 analytiker ansåg om mötet den 27 november. Hälften tror att OPEC […]

Keystone XL pipeline bill rejected by U.S. Senate

November 19, 2014


Senate Democrats, by a single vote, stopped legislation that would have approved construction of the Keystone XL pipeline, one of the most fractious and expensive battles of the Obama presidency. The Keystone Pipeline System is an oil pipeline system in Canada and the United States. It runs from the Western Canadian Sedimentary Basin in Alberta, […]

Energy is the basis for our future

November 18, 2014


One month ago I wrote for the Focus column of SvD that “The falling oil price may presage a future recession”. The article was criticised by some but now recession is a reality in Japan, the world’s third largest economy. Today the BBC reports, “Japan’s economy unexpectedly shrank for the second consecutive quarter, leaving the […]

So far no decline in drilling activities in the USA

November 17, 2014


In January 2013 I wrote a blog on changes in the number of drilling rigs in the USA in connection with the crash in the oil price of 2008. Then, the number of rigs was halved within only few months. Regarding fracking they were then drilling mainly for natural gas. It will be interesting to […]

Åre Sustainability Summit (ÅSS)

November 16, 2014


(Swedish below) For the second year, the Åre Sustainability Summit (ÅSS) has been held and interest was high. The conference brings together industry, the general public and decision makers at a meeting with lectures and discussions on sustainability issues. The initiative to begin sustainability workshops in Åre came from interested individuals via Facebook groups etc. […]

Cash flow problems for Statoil

November 11, 2014


(This text is not translated by Michael) The journalist Björn Lindahl is the leading oil journalist in the Swedish newspaper Svenska Dagbladet and probably also the leading oil journalist in Sweden. If you are interested in oil, his articles are obvious. The fact that he has his office in Oslo means that he also is […]

“The Russian Oil Roller Coaster”

November 10, 2014


My illustrator Olle Qvennerstedt got inspired by my blog “Russian primary industry cannot withstand this roller coaster” to draw his own version of the Russian Oil Roller Coaster.

EIA: Short-term Global Petroleum and Other Liquids

November 10, 2014


The USA’s Energy Information Administration (EIA), has just published its short-term prognosis for energy consumption, “Short-Term Energy and Winter Fuels Outlook”. When discussing oil the EIA describes “total liquids” and for 2013 the average total liquids production rate is 90.6 million barrels a day (Mb/d). In the BP Statistical Review of World Energy oil production […]

“Russian primary industry cannot withstand this roller coaster.” / ”Ryska basindustrin tål inte den här berg- och dalbanan”.

November 9, 2014


Katarina Lagervall DN called me last Friday and we had a long and interesting conversation about oil and the global economy. A summary of our conversation is now available at [in Swedish] under “Russian primary industry cannot withstand this roller coaster.” (I have added some clarifications with parentheses) (Published 2014-11-07 13:17) Falling oil prices […]

Is the Johan Sverdrup oil field in Norway a new Norwegian Bonanza?

November 5, 2014


Last Monday, Statoil made a statement to the press about the oil field Johan Sverdrup. The fact that The Wall Street Journal highlighted this news meant that it was spread around the world. The title of their article was “Statoil Forecasts New North Sea Oil Bonanza“. From the WSJ article itself we learn that the […]