From 2005 to 2015 global oil output has increased from 83 million to 93 million bpd (1.29%).
The oil and gas companies with the most impressive increases often all state-owned. Other economically less rational resources are taking over, but only at the expense of the tax payer.
UPDATE:
June 21, 2015
Infograhic by Visual Capitalist. (Source) (Click to enlarge)
Jan. 3, 2015
Saudi Arabia bets its future on 'Berlin or Bust' oil strategy. The world's largest oil exporter is forcing prices lower to win back market share but the high-risk strategy will test the house of Saud like never before. Oh, and thank the Americans for fracking!
UPDATE:
It’s the oil crash few saw coming, and few have been spared as it erased $1.3 trillion http://t.co/1JirDVjIsJ pic.twitter.com/RJgt6A8mWL
— Bloomberg Business (@business) August 5, 2015
June 21, 2015
(Infographic) The World’s 10 Biggest Oil and Gas Companies
Infograhic by Visual Capitalist. (Source) (Click to enlarge)
Jan. 3, 2015
Saudi Arabia Is Playing A High Risk Oil Strategy
Saudi Arabia bets its future on 'Berlin or Bust' oil strategy. The world's largest oil exporter is forcing prices lower to win back market share but the high-risk strategy will test the house of Saud like never before. Oh, and thank the Americans for fracking!
#SaudiArabia bets its future on 'Berlin or Bust' oil strategy. Essential reading from @baldersdale for @Telegraph: http://t.co/fgbkb8pLRl
— د. كريستوفر ديفيدسون (@dr_davidson) January 3, 2015
Saudi Arabia has won the opening battle of its radical oil strategy by forcing prices lower. But the kingdom is about to enter into a dangerous new phase in its war to regain control of the world’s oil market.
In November, Saudi succeeded in bullying the other members of the Organisation of Petroleum Exporting Countries (Opec) into continuing to pump their current quota of 30m barrels per day (bpd) as its first objective. The strategy born in the palaces of Riyadh has sparked the apparently desired oil price rout, which the kingdom’s veteran oil minister Ali Naimi clearly believes is necessary to shut down the cartel’s biggest rivals in Russia and the shale oil fields of Dakota. (Source)
July 12, 2013
Prelude: A New Frontier in Energy Resources
Shell is building the world’s first Floating Liquefied Natural Gas (FLNG) project which has the potential to revolutionize the way natural gas resources are developed
The Prelude Project will help to unlock vital energy resources offshore, without the need to lay pipelines and build processing plants on land.
Hundreds of engineers from across the world have combined their experience and expertise to design the world’s largest floating offshore facility. It will be used to help open up new natural gas fields at sea that are currently considered too costly or difficult to develop.
Shell is a pioneer in liquefied natural gas (LNG). Chilling gas to -162° Celsius (-260°F) turns it into liquid and shrinks its volume by 600 times, allowing it to be shipped to far-off towns and cities where the energy is needed.
Shell has five decades of experience in the LNG industry. Moving the production and processing out to sea where the gas is found is a major innovation that brings huge new energy resources within reach.
It also avoids the potential environmental impact of constructing and operating a plant on land, including laying pipelines to shore and building other infrastructure.
The first site to use Shell’s FLNG will be the Prelude gas field, 200 kilometres (around 125 miles) off Australia’s north-west coast.
Shell has progressed the Prelude FLNG project at rapid pace.
(Source)
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