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Crude Oil

China on Track to spend US$500bn on Crude Oil Imports by 2020, Surpassing US Import Require

in Non-Renewable Energy by
PetroChina

On 20 August Wood Mackenzie (WoodMac) released a report on China and the USA’s future imports of oil. WoodMac regards itself as one of the world’s leading companies producing energy analyses. The title of the report is “Heading in Opposite Directions: China and US Reliance on Oil”, but I chose to use the report’s subtitle…

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Crude oil reserve estimation: An application of the autoregressive integrated moving average (ARIMA) model

in Publications by
publications

Publication date: 1992-07-01 First published in: Journal of Petroleum Science and Engineering Authors: B.J. Ayeni, R. Pilat Abstract: The oil industry has used decline curve analysis with limited success in estimating crude oil reserves and in predicting future behavior of oil and gas wells. This paper, therefore, explores the possibility of using the Autoregressive Integrated…

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Forecasting world crude oil production using multicyclic Hubbert model

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publications

Publication date: 2010-02-01 First published in: Energy & Fuels Authors: I.S. Nashawi et al Abstract: The year 2008 has witnessed unprecedented fluctuations in the oil prices. During the first three-quarters, the oil price abruptly increased to $140/bbl, a level that has never been reached before; then because of the global economic crisis, the price dramatically…

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A simple interpretation of Hubberts model of resource exploitation

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publications

Publication date: 2009-09-01 First published in: Energies Authors: U. Bardi & A. Lavacchi Abstract: The well known “Hubbert curve” assumes that the production curve of crude oil in a free market economy is “bell shaped” and symmetric. The model was first applied in the 1950s as a way of forecasting the production of crude oil…

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Alternatives to conventional crude oil: When, how quickly, and market driven

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publications

Publication date: 2008-02-13 First Published in: Ecological Economics Authors: R. Kaufmann & L. Shiers Abstract: We examine the effect of uncertainty concerning remaining supplies of conventional crude oil and its production path on the date alternative fuels will be needed, the quantity of alternative fuels needed, and how this uncertainty affects firms’ willingness to provide…

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