What is Peak oil?
"The term Peak Oil refers to the maximum rate of the production of oil in any area under consideration, recognising that it is a finite natural resource, subject to depletion."
Submitted by admin on Sat, 2002-09-28 13:26.
ASPO is a network of scientists and others, having an interest in determining the date and impact of the peak and decline of the world's production of oil and gas, due to resource constraints. Read more.
On this page you will find news related to ASPO International, or any of its national organizations. For more news related to Peak Oil, see the News section on our links page.
Submitted by Kjell Aleklett on Tue, 2014-09-02 09:43.
If one studies the world’s oil resources and oil production then the Arabian Peninsula is of central interest. The remaining monarchies of the region have established the Gulf Cooperation Council (GCC). This was formed in 1981 as a response to the Iranian Revolution and Iraq’s attack on Iran. The GCC is comprised of Saudi Arabia, Kuwait, Bahrain, Qatar, The United Arab Emirates and Oman. Within the GCC exist enormous oil resources. According to the BP Statistical Review of World Energy 40% of the world’s remaining conventional oil reservs exists within the GCC.
The world’s largest conventional oil field is Ghawar in Saudi Arabia and there are also many other gigantic oilfields in the region. Since the 1950s it is mainly oil from the Arabian Peninsula that has been decisive for the economic growth of the global economy.
Submitted by Kjell Aleklett on Mon, 2014-08-18 14:43.
On 11 June OPEC held its 165th meeting in Vienna and the organisation’s 12 members decided to maintain its production volume of 30 millon barrels of oil per day (Mb/d). The meeting is reported in the OPEC Bulletin 6/14. They also decided to extend Abdalla Salem El-Badri’s term as general secretary of OPEC until the end of the year. After the meeting a press conference was held during which General Secretary El-Badri stated, “Right now we have a very comfortable crude oil price, the market is stable and OPEC is producing 30 Mb/d of crude, more or less. The consumers are getting their supplies and the producers a good price. Everybody is Happy.”
On the question of whether shale oil production in the USA was a threat to OPEC the answer was that it was not because the USA would not be an oil exporter. With regard to future investments El-Badri considered that OPEC had a good plan for investments and stated they would study the balance between demand and production. In conclusion he said that “OPEC will continue to play its part in supplying the world with enough crude oil”.
In the OPEC Bulletin some of the external guests to the meeting were also interviewed.
Submitted by Kjell Aleklett on Mon, 2014-06-16 22:32.
On 4 June I participated with Patrik Jotun, (a researcher and analyst at the Ministry for Foreign Affairs), in a symposium organised by the Green Liberals with the theme, “Environmental and Climate Policy in the Shadow of Developments in Russia – on environment, climate, security and energy supply”. The delegates were allowed into the Folk Party’s premises at Mynttorget under strict security control. My presentation was somewhat similar to that I gave at The Economist’s recent symposium in Stockholm and so I will direct you to my earlier blog on that event for details (European Energy Horizons 2014). I found Patrik Jotun’s presentation very interesting and it gave me new perspective on the tensions that we see today between the EU and Russia.
Submitted by Kjell Aleklett on Tue, 2014-02-25 14:00.
The Oil & Gas Journal has published an article with the headline, "Chesapeake mulls spinoff, sale of oil field services division". The article is especially interesting since Chesapeake is one of the largest companies in fracking. On Chesapeake Energy Corporation’s website one can read that they are the second largest producer of natural gas and the eleventh largest company for production of oil and NGL in the USA. Further, one can read that, “The company’s operations are focused on discovering and developing its large and geographically diverse resource base of unconventional natural gas and oil assets onshore in the U.S. The company also owns substantial marketing, compression and oilfield services businesses.” On 11 February 2014 the company submitted an “Investor presentation” and they explained that they were required to make such “forward-looking statements” by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Submitted by Kjell Aleklett on Fri, 2014-02-07 16:57.
Image: Bo Diczfalusy
On February 6 the Network for Oil and Gas (NOG) in Sweden organised a symposium at which the World Energy Outlook 2013 report was discussed, primarily in terms of a changing energy market. Personally, I was interested in what Bo Diczfalusy, Director at the Swedish Ministry of Enterprise and Energy, would say about WEO 2013. From December 2009 until December 2012 he was Director of the Directorate of Sustainable Energy Policy and Technology at the International Energy Agency (IEA). That means that he is well acquainted with the production of WEO reports. His presentation on WEO 2013 did not differ significantly from that given by the IEA’s Chief Economist Fatih Birol last autumn. Possibly he pointed out even more clearly that the WEO report is a scenario calculation restricted by certain assumptions.
Elin Akinci from the Energy Authority gave a more detailed description of the natural gas scenario that exists in WEO 2013.
Submitted by Kjell Aleklett on Sun, 2014-01-19 12:03.
By Kjell Aleklett
For the past 100 days I have visited shale formations with oil and gas from Amarillo in the north to Laredo and Eagle Ford in the south, from Odessa and the Permian Basin in the west to Nocogdoches and the Haynesville Shale in the east. The only remaining shale formation to visit on my list was the Barnett Shale around Fort Worth west of Dallas. It was here that the US adventure with fracking began and in September 2013 RRC, Railroad Commission of Texas, reported that one had drilled 18,300 wells in the Barnett Shale.
Submitted by Mikael Höök on Fri, 2014-01-17 16:02.
Find the full theme isse here:
Submitted by Kjell Aleklett on Fri, 2013-12-20 05:45.
For the second time a dialogue has been organised during the Nobel Prize week and this time it was in Gothenburg. The idea of the event is that one should take advantage of the unique opportunity that a number of Nobel Prize winners, other leading researchers, leaders of industry and politicians are gathered in Sweden for the Nobel Prize festivities. The theme for the dialogue this year was the future of energy and I felt honoured to be invited to participate. It was especially enjoyable for me to be in Gothenburg since this is the city in which I was born and studies. However, the reason for my invitation was my research on global energy systems.
The invitees began the day with a joint breakfast. For the breakfast the organisers had invited David MacKay as speaker.
Submitted by Kjell Aleklett on Sun, 2013-12-08 07:27.
On December 9th, the day before the Nobel Prizes are handled out in Stockholm, there is a "Nobel Week Dialogue" in Gothenburg. This year's theme is "Exploring the Future of Energy" and participating Nobel Laureates are presented by the organizers. My contribution to the dialogue is now published by Svenska Dagbladet on “Brännpunkt” under the heading "Now we need new energy systems" (Read the article in Swedish on Brännpunkt).