Oil - News, Trends, Oil Links
Few giant oil fields supply most of our oil
Over a quarter of the world's oil production came from just 20 giant oilfields. Don't forget that most of these fields are more than 50 years old and in decline. Overall, a little more than one hundred fields make up half of the world's total production (the remaining production is made up of approximately 70,000 oilfields). - Read More
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Topics : Oil and Gas Oil
Shell, ConocoPhillips spending millions on Arctic Research
Royal Dutch Shell (ADR: NYSE: RDS.A) and ConocoPhillips are going well outside their domains of expertise, spending $100 million per year on biological and geological research in the Arctic, studying such things as climate change and environmental factors affecting polar bears, seals, walrus, and whales. - Read More
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Topics : Oil and Gas Oil
Upcoming refinery projects in India
Other key upcoming refinery projects include Essar Oil?s Vadinar refinery expansion of 110,000 bbl/d in 2010 and 320,000 bbl/d in 2013, IOC?s Paradeep refinery expansion of 300,000 bbl/d in 2014, and 300,000 bbl/d capacity additions to refineries in Bina and Bhatinda by 2013. India is slated to add 1.6 million bbl/d of refining capacity through 2015 based on current proposed projects. - Read More
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Topics : Oil Oil and Gas
Reliance has largest refinery in India
This year, privately-owned Reliance Industries surpassed state-owned India Oil Corporation (IOC) in terms of refining capacity in the country due to additions to its recently upgraded facility. Reliance?s only refinery, the Jamnagar facility, is India?s largest, with an initial capacity of 660,000 bbl/d. Reliance recently enlarged the Jamnagar site to add an additional capacity of 580,000 bbl/d, making it the largest refining complex in the world with a refining capacity of 1.24 million bbl/d. - Read More
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Topics : Oil Oil and Gas
Countries from which India imports crude oil
S Arabia - 23%, Iran - 17%, Nigeria - 11%, Iraq - 10%, Kuwait - 9%, UAE - 9%, Malaysia - 4%, Yemen - 3%, others - 14% - Read More
Topics : Oil Oil and Gas
India more dependent on mid east than china for oil
Pipelines from Russia and Kazakhstan to China expected completed by 2012 and 2015 are threatening to reduce some of China?s dependence on Gulf oil. Also some oil from Venezuela, west Africa etc. into China. India, being geographically closer to the Middle East and with fewer other sources to bank on compared to China, may be forced to depend on oil from the Gulf. - Read More
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Topics : Oil and Gas Oil
Indian refineries cannot process high sulfur crude oil from gulf
Although both India and China have substantial capacities to process crude oil, the biggest drawback Gulf oil producers face in these two countries is that about 60 percent of that capacity is not capable of refining the Gulf?s high-sulphur, or ?sour,? crude oil.
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Topics : Oil and Gas Oil
Commercial use in US of oil from oil shale deposits at least a decade away
The commercial use of oil from US oil shale deposits is likely at least 10 years away and will require technological advances to get past hurdles standing in the way of its commercial use, US Interior Secretary Ken Salazar said
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Topics : Oil and Gas Oil