Industrialized Cyclist Notepad


$20m worth of jet fuel stolen from Jamaica airport

Earlier this week.

Highly placed police sources have confirmed that more than 200,000 litres of jet fuel has been stolen from the Sangster International Airport in Montego Bay, St James.

The fuel, valued at $20 million, is owned by a consortium, including Jamaica Aircraft Refuelling Services (partnership between PetroJam and British Petroleum), Esso and Total.

via Thieves jet off with $20m worth of airplane fuel – Lead Stories – Jamaica Gleaner – Wednesday | May 1, 2013.



Exxon, Chevron, Total, Statoil Stoke Fires in Kurdistan as Tony Hayward Waits for Pipe

The Kurdish region plans to increase output to 2 million barrels a day by 2019, Michael Howard, an adviser to Kurdistan Natural Resources Minister Ashti Hawrami, said in a June 10 phone interview. It has signed energy agreements with about 50 companies and plans to increase output to 1 million barrels a day by 2015 from about 300,000 barrels a day now, he said.

Kurdish authorities recognize production-sharing agreements, which give investors a share of any oil they may produce, whereas Iraq’s Oil Ministry offers only fee-based service contracts. This has attracted interest from investors such as Norway’s Statoil ASA (STL) that are unhappy with the central government’s contract terms for exploration and production.

Exxon Mobil Corp., Chevron Corp. and Total SA (FP) are flouting warnings by the government against seeking separate deals with the Kurds, whom Iraq’s Oil Ministry accuses of “smuggling” oil from the country.

via Tony Hayward Loads Trucks With Kurdish Oil Awaiting Pipe: Energy – Bloomberg.



The Five Anxious Dwarves

Interesting piece by Andrew McKillop.

At the current time there is no sign that either of these Nice Theory solutions coming about in the real world, unless we try the conspiracy theory that the OECD group, led by the US, Europe and Japan voluntarily sabotaged their economies in 2008 – to save oil !

 Annual growth of oil demand by China, India, Bangladesh, Pakistan, Brazil, Turkey and other nonOECD, large population, oil importing industrialising countries could hit as much as 1.75 Mbd each year, under 2004-2007 global economic conditions. Not even 2 years of that growth would send oil prices right off the top of the graph. Even with continued slow oil demand growth by the OECD group, or recession-driven decline of their demand … global oil demand can easily bounce.

We can simply note that dependable Peak Oil denial from playful flyweights like Dan Yergin or oil industry stalwarts like former CEO Lee Raymond and E&P chief Jon Thompson of ExxonMobil, or Christophe de Margerie of Total has problems staying on track. The real bottom line on global oil production is increasingly heard:  world oil output will very likely never achieve more than around 90 Mbd on a short-life basis, before terminal decline sets into operation. The only upside is that necessarily more expensive shale oil, and necessarily expensive GTL (oil from gas) may smooth the downslope.

Today’s IEA forecast for global average daily demand in 2012 is about 89.9 Mbd.

via The Magical Decline Of Crude Oil Demand :: The Market Oracle



Total spewage
April 6, 2012, 08:02
Filed under: Uncategorized | Tags: , , , , , , , ,

I don’t think he was supposed to say that…

PARIS (Dow Jones)–Drilling relief wells near the Elgin oil rig in the North Sea to stop a natural gas leak may take more than six months, French oil major Total SA (TOT), which owns the rig, said Friday.

“The time taken to drill wells in Elgin surpassed six months so it is right to expect a similar timeframe (for the relief wells operation),” Eric Casse, Total’s Drilling & Well Operations Manager for Europe, the Americas and Central Asia said in a video posted by Total on its website.

via Total: Drilling Relief Well In Elgin May Take More Than 6 Mos – WSJ.com.



Lying or Confused?

New oil strikes keep oil prices on the defensive (USO, PTR, TOT, XOM) – NASDAQ.com.

“For the first time in a long time, the United States is a net energy exporter.”

Ah no. Not by a long shot. The US is now a net exporter of refinery products. Still a massive importer of petroleum and ‘energy.’