!!

Welcome Guest

You are viewing this forum as a guest therefore You are Not Allowed to Post and Reply and You are not allowed to view links. Register or Login

collapse

* Search


* Recent Replies

Adsense Account by [Not Shown, Login to View]
[May 25, 2018]


Modern SEO Guide by [Not Shown, Login to View]
[May 24, 2018]


Think About This... by [Not Shown, Login to View]
[May 23, 2018]


Latest on Google AdSense by [Not Shown, Login to View]
[May 23, 2018]


The Spirit of the Living God by [Not Shown, Login to View]
[May 22, 2018]


How to use facebook in driving traffic by [Not Shown, Login to View]
[May 19, 2018]


How to Start Bulk SMS Website by [Not Shown, Login to View]
[May 18, 2018]


Error 404 Fixing by [Not Shown, Login to View]
[May 16, 2018]


Use Adsense Code on Subdomains by [Not Shown, Login to View]
[May 14, 2018]


Help on how to send bulk emails by [Not Shown, Login to View]
[May 10, 2018]


Ways Of Improving Your Memory by [Not Shown, Login to View]
[May 10, 2018]


I am interested in bulk SMS business by [Not Shown, Login to View]
[May 09, 2018]


Content for website or Facebook fan page?? by [Not Shown, Login to View]
[May 09, 2018]


amazon afiliation registration by [Not Shown, Login to View]
[May 09, 2018]


Creation of Ads in Adsense by [Not Shown, Login to View]
[May 09, 2018]


How To Get Google Adsense Approval Fast by [Not Shown, Login to View]
[Apr 30, 2018]


HTML code for Menu Buttons by [Not Shown, Login to View]
[Apr 24, 2018]


Facebook ban or Not? What to do? by [Not Shown, Login to View]
[Apr 23, 2018]


Tips to Get an Approved Adsense Account by [Not Shown, Login to View]
[Apr 17, 2018]


I am unable to see and edit published Post on my blog back end by [Not Shown, Login to View]
[Apr 16, 2018]


Areghan method on keyword research by [Not Shown, Login to View]
[Apr 16, 2018]


New Facebook Page by [Not Shown, Login to View]
[Apr 10, 2018]


PPC ads for News Website by [Not Shown, Login to View]
[Apr 01, 2018]


Wordpress Featured Image by [Not Shown, Login to View]
[Mar 31, 2018]


"Add To Cart" and "Ordered Items" by [Not Shown, Login to View]
[Mar 29, 2018]


Clicks on Amazon by [Not Shown, Login to View]
[Mar 26, 2018]


Having Issues With The Latest version of the Google Keyword Planner by [Not Shown, Login to View]
[Mar 24, 2018]


Amazon and Bing ads by [Not Shown, Login to View]
[Mar 12, 2018]


Webhost purchase by [Not Shown, Login to View]
[Feb 27, 2018]


Best hosting platforms by [Not Shown, Login to View]
[Feb 06, 2018]

Author Topic: Impending Shift in Oil Supplies  (Read 430 times)

0 Members and 1 Guest are viewing this topic.

Offline [Not Shown, Login to View]

  • Forum Guide
  • Level 4 (Dedicated)
  • ******
  • Posts: 1056
  • Respect: +267
  • Gender: Male
  • Location: Ibadan, Oyo State of Nigeria
  • 1st Chamber
  • My Rank: 86
Impending Shift in Oil Supplies
« on: May 15, 2013 »
0

U.S shale oil supply shock shifts global power balance

A steeper-than-expected rise in US shale oil reserves is about to change the global balance of power between new and existing producers, a report says.

Over the next five years, the US will account for a third of new oil supplies, according to the International Energy Agency (IEA).

The US will change from the world's leading importer of oil to a net exporter.

Demand for oil from Middle-East oil producers is set to slow as a result.

"North America has set off a supply shock that is sending ripples throughout the world," said IEA executive director Maria van der Hoeven.

The surge in US production will reshape the whole industry, according to the IEA, which made the prediction in its closely-watched bi-annual report examining trends in oil supply and demand over the next five years.

The IEA said it expected the US to overtake Russia as the world's biggest gas producer by 2015 and to become "all but self-sufficient" in its energy needs by about 2035.

The rise in US production means the world's reliance on oil from traditional oil producing countries in the Middle East, which make up Opec (the Organization of the Petroleum Exporting Countries), would end soon, according to the report.

Slower growth

US production is set to grow by 3.9 million barrels of oil per day (bpd) from 2012 to 2018, accounting for some two-thirds of the predicted growth in traditional non-Opec production, according to the IEA.

The regional fallout from the 'Arab Spring' is taking a toll oninvestment and capacity growth”

IEA

Meanwhile, global oil demand is set to increase by 8% which would be met mainly by non-Opec supplies, the report said

The IEA still expects production capacity among traditional Opec suppliers in the Middle East to continue to grow over the next five years, but at a slower rate.

Opec capacity, which counts for 35% of today's global oil output, is expected to rise by 1.75 million bpd to 36.75 million bpd in 2018, about 750,000 bpd less than predicted in the IEA's 2012 forecast.

The IEA cites the "growing insecurity in North and Sub-Saharan Africa" in the wake of the Arab Spring uprisings as a key reason for the slowdown.

"The regional fallout from the 'Arab Spring' is taking a toll on investment and capacity growth," the IEA said.

Fracking

The sharp rise in US oil production is largely thanks to shale oil, a product many have hailed as the saviour of the US energy market.

Fracking, the process of blasting water at high pressure into shale rock to release oil (or gas) held within it, has become widespread in the US.

But critics of shale oil point to environmental concerns such as high water use and possible water contamination, the release of methane and, to a lesser extent, earth tremors caused by drilling.

The process has been banned in France, while the UK recently lifted a moratorium on drilling for shale gas.


Knowledge Is Power – Seek For It

 

Related Topics

  Subject / Started by Replies Last post
2 Replies
416 Views
Last post Jul 28, 2013
by [Not Shown, Login to View]
0 Replies
442 Views
Last post Nov 06, 2013
by [Not Shown, Login to View]
0 Replies
365 Views
Last post Dec 27, 2013
by [Not Shown, Login to View]

TinyPortal © 2005-2011
SimplePortal 2.3.5 © 2008-2012, SimplePortal