Oil Production Cost - News, Trends, Oil Production Cost Links
Costs of oil production from Azerbaijan , Venezuela
For Western firms, it can cost as little as $5 to $7 a barrel to pump the most easily accessible oil from places like Venezuela or Azerbaijan...but the costs don't stop there...The costs don't stop there. On top of the $5-$7 production costs, there's also the the money it took to build the pumping facility. At several billion dollars a pop, capital costs typically add another $5 to $7 a barrel. In more expensive fields, the cost in the high teens or low twenties...2007 data - Read More
Tags : oil oil production
Topics : Oil Oil and Gas
World's cheapest oil at $2 per barrel
The world's cheapest oil to extract comes from Saudi Arabia and costs $2 a barrel. But that oil, over 8 million barrels a day, is pumped mostly by the Saudi national oil company and is largely off-limits to Western oil firms. - Read More
Tags : oil oil production saudi arabia oil prices
Topics : Oil Oil and Gas Finance
Tar sands oil could cost more than 50 $ a bbl
While oil extraction costs from places like S Arabia and Iraq are something like 5 $ per barrel owing to the easy geology, for Canadian tar sands it could be an exotic 50$ per bbl
Tags : tar sands iraq saudi arabia
Topics : Oil Oil and Gas Finance
Iraq's Oil Extraction Cost is Cheapest
Along with Saudi Arabia, Iraq is one of the cheapest countries to extract oil from, costing as little as $4-$5 per barrel thanks to the easy geology and high flow rates. That is a long way from more exotic endeavours such as Canada’s tar sands, where extraction can cost $50 a barrel or more. - Read More
Tags : oil iraq saudi arabia
Topics : Oil Oil and Gas Finance
$12 to produce a barrel of oil from tar sands
Syncrude Canada spends $12 to produce a barrel of oil from tar sands, while the Saudis spend only $1 for every barrel produced (2002 data)
Topics : Oil and Gas Oil
Total upstream costs 2006 for oil
US onshore: 20$, US offshore: 70$; Foreign companies: 25$ - 2006; source: EIA - Read More
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Topics : Oil and Gas Oil
Total upstream costs per BOE
In 2006, avg production costs (or “lifting” costs, cost to bring a bbl oil to surface) ranged from $4 per bbl in Africa to about $8.30 in Canada; avg for the U.S. was $6.83. Besides this, high costs are incurred to explore for and develop oil fields (“finding” costs) - avgd over 2004, 05, 06, these ranged $5.26/barrel in Middle East to $63.71 U.S. offshore. - Read More
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Topics : Oil and Gas Oil