Toyota Motor Europe Group Environmental Affairs Manager Willy Tomboy Thursday and logistics in the oil Tankbank meeting said that global oil production may peak in the years 2012-2015, and then began to decline.
Global peak oil production is increasingly approaching the possibility that this will stimulate the hybrid and electric vehicle development, improve fuel efficiency and find alternative fuels.
Tomboy said that although the current peak of oil production is still controversial, but there are many scientific publications that this could happen.
Current hybrid vehicles, Toyota Europe accounted for 5.3% of sales, but Toyota is expected to hybrid vehicles in 2030 will rule the automobile market.
Source: www.in-en.com Jun. 26, 2009
OPEC President: 70 U.S. dollars a barrel oil is a satisfactory
Media Luanda on June 20 reported that the Organization of Petroleum Exporting Countries (OPEC) President Jose de Vasconcelos 6 on 18 in the media here said that 70 U.S. dollars per barrel of oil is the oil-producing countries, whether for consumption or for oil States are at a satisfactory price.
At the same time as in Angola's Oil Minister Jose de Vasconcelos, said the rise in oil prices on the world economy is a positive signal. If oil prices remain at its present level, then OPEC is not necessary this year to cut oil production again.
OPEC implemented in a record deal with plans to cut oil prices plummeted in the second half of last year after 100 U.S. dollars, crude oil futures prices so far this year in the New York Mercantile Exchange trading up 60%. June 18, crude oil futures prices closed at 71 U.S. dollars a barrel.
Jose de Vasconcelos said that Angola may try to consult member countries in OPEC oil production quota re-allocation to increase their oil production. OPEC for oil production in Angola identified target is 1.656 million barrels per day.
Source: www.in-en.com Jun. 22, 2009
At the same time as in Angola's Oil Minister Jose de Vasconcelos, said the rise in oil prices on the world economy is a positive signal. If oil prices remain at its present level, then OPEC is not necessary this year to cut oil production again.
OPEC implemented in a record deal with plans to cut oil prices plummeted in the second half of last year after 100 U.S. dollars, crude oil futures prices so far this year in the New York Mercantile Exchange trading up 60%. June 18, crude oil futures prices closed at 71 U.S. dollars a barrel.
Jose de Vasconcelos said that Angola may try to consult member countries in OPEC oil production quota re-allocation to increase their oil production. OPEC for oil production in Angola identified target is 1.656 million barrels per day.
Source: www.in-en.com Jun. 22, 2009
Bolivian oil and gas exploration investment this year will be 1.05 billion USD
According to the Venezuelan media in Los Angeles on June 17 reported that the Bolivian national oil company (YPFB) 6 said on 16, Bolivia this year, oil and gas exploration and production of national and private investment will reach 1.05 billion U.S. dollars.
The Bolivian national oil company said in a statement, the state of all YPFB-Andina will this year invest in oil and gas exploration and production of 89 million U.S. dollars, and this year, YPFB-Chaco company plans to invest in oil and gas exploration and production of 55 million U.S. dollars. Investment budget of other companies, including Petrobras of 174.5 million U.S. dollars, Repsol of Spain's 109 million U.S. dollars, British Gas Group, 88 million U.S. dollars, the French company Total and 48 million U.S. dollars of Pluspetrol's 26 million U.S. dollars.
During this period, in order to increase the income of the company YPFB, the Bolivian Government has issued a decree to force the oil companies needed to local oil services contract before the commission provided to the country's state-run oil company.
Under the Act, the local oil companies must first oil service contract or contract to provide equipment to the company YPFB (no matter how much the value of the contract), and YPFB will be made within 10 days to accept or reject such a decision provided.
Source: www.in-en.com Jun. 18, 2009
The Bolivian national oil company said in a statement, the state of all YPFB-Andina will this year invest in oil and gas exploration and production of 89 million U.S. dollars, and this year, YPFB-Chaco company plans to invest in oil and gas exploration and production of 55 million U.S. dollars. Investment budget of other companies, including Petrobras of 174.5 million U.S. dollars, Repsol of Spain's 109 million U.S. dollars, British Gas Group, 88 million U.S. dollars, the French company Total and 48 million U.S. dollars of Pluspetrol's 26 million U.S. dollars.
During this period, in order to increase the income of the company YPFB, the Bolivian Government has issued a decree to force the oil companies needed to local oil services contract before the commission provided to the country's state-run oil company.
Under the Act, the local oil companies must first oil service contract or contract to provide equipment to the company YPFB (no matter how much the value of the contract), and YPFB will be made within 10 days to accept or reject such a decision provided.
Source: www.in-en.com Jun. 18, 2009
Saudi Arabia warned that oil prices may be a breakthrough in the last 3 years, the highest level
According to Arab media in Riyadh on June 15 reported that the world's largest oil exporter Saudi Arabia, recently warned that unless the other oil-producing countries, together with the Kingdom of Saudi Arabia to expand oil production capacity to invest sufficient funds to the project, otherwise, the oil price in the future 3 years is entirely possible once again soared to a record last year, more than the historical record.
Government-controlled Saudi Aramco said that the second half of last year's sharp fall in crude oil prices is only a temporary phenomenon, oil demand in the near future will increase substantially.
Saudi Aramco chief representative in Beijing said: "We must recognize that lower oil prices not only for the oil-producing country's economy harmful, but also the interests of oil-consuming countries are also harmful. Therefore, sustained and timely investment in oil and infrastructure projects on the supply of the future at the appropriate level is very important. " "The current oil price simply can not encourage large-scale investment necessary and, if no such investment, should demand the restoration in the future, we may be experiencing a serious shortage of supply."
Source: www.in-en.com Jun. 17, 2009
Government-controlled Saudi Aramco said that the second half of last year's sharp fall in crude oil prices is only a temporary phenomenon, oil demand in the near future will increase substantially.
Saudi Aramco chief representative in Beijing said: "We must recognize that lower oil prices not only for the oil-producing country's economy harmful, but also the interests of oil-consuming countries are also harmful. Therefore, sustained and timely investment in oil and infrastructure projects on the supply of the future at the appropriate level is very important. " "The current oil price simply can not encourage large-scale investment necessary and, if no such investment, should demand the restoration in the future, we may be experiencing a serious shortage of supply."
Source: www.in-en.com Jun. 17, 2009
Five countries in Africa have proven oil reserves of more than 5 billion barrels
News June 15, Africa has been growing for the global oil market. As of January 2009, the five countries in Africa have proven oil reserves of more than 50 million barrels. Which Libya's proven oil reserves to 43 billion barrels ranks of Africa's largest proven oil reserves, Nigeria to 36 billion barrels of proven oil reserves rank second, third and fifth, respectively, are Algeria, 12 billion barrels, Angola and Sudan 9 billion barrels of 5 billion barrels.
Source: www.in-en.com Jun. 16, 2009
Source: www.in-en.com Jun. 16, 2009
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