The world will never be able to produce more than 89m barrels a day of oil, the head of Europe’s third-largest energy group has warned, citing high costs in areas such as Canada and political restrictions in countries such as…
The German Financial Times features an article that links the record high oil prices of last July to the onset of the financial turmoil and economic crash. Thomas Fricke writes the following: No financial analyst managed to predict that 2008…
Petroleos Mexicanos (PEMEX), Mexico’s state oil company, will probably report its fastest drop in production since 1942, eroding revenue as plunging crude prices limit the amount of cash available to drill for new reserves. Pemex last year likely extracted 2.8…
Offshore drilling companies are having a hard time expanding their fleets because the economic conditions have made new vessels harder to finance. Scorpion Offshore announced today that it was unable to secure financing for their Deepwater Rig semisubmersible. Keppel FELS…
Toyota Motor Corp. said Saturday it is confirming plans to have an all-electric vehicle on U.S. roads by 2012 by introducing an ultra-compact battery-powered concept car at the North American International Auto Show in Detroit. “Last summer’s $4-a-gallon gasoline was…
ASPO International is pleased to inform about the Permanent Oil Crisis conference in Amsterdam, Netherlands, 21-22 January 2009. Despite the present, temporarily low oil prices and financial turmoil now is the time to look beyond 2009. Low oil prices, Low…
The era of cheap gas is coming to an end, Russia’s Prime Minister Vladimir Putin has told ministers from the world’s major gas-exporting countries. The Gas Exporting Countries Forum (GECF) meeting in Moscow has agreed a charter and plans for…
Global oil output could peak by 2020 – much earlier than expected – amid a collapse in investment due to the financial crisis, the International Energy Agency’s (IEA) chief economist Fatih Birol claimed. In an interview published today, Birol told…
Publication date: 2008-10-14 First published in: Energy Authors: U. Bardi Abstract: The present paper reviews the reactions and the path of acceptance of the theory known as “peak oil.” The theory was proposed for the first time by M.K. Hubbert…
Publication date: 2000-04-01 First published in: Marine and Petroleum Geology Authors: J. Laherrere Abstract: Field size distributions in three Petroleum Systems have been analyzed using different approaches. The parabolic fractal model shows the Niger Delta and the Gulf of Mexico…