oilwatch monthly - august 2010

Definitions

Crude Oil, petroleum found in liquid and semi liquid form including deepsea oil and

lease condensates. Liquids, all forms of liquid fuels including conventional, heavy, and extra heavy oil, oil shale, oil sands, natural gas liquids, lease condensates, gas-to-liquids, coal-to-liquids, and biofuels.

One Barrel of oil is equivalent to 159 litres

Newsletter Index

Page 2 - 4: World Oil Production

Page 5: OPEC Oil Production

Page 6: Non-OPEC Oil Production

Page 7: OPEC Oil Consumption

Page 8 - 12: OECD Oil Consumption

3: Asia Oil Consumption

Page 14 - 16: OECD Crude Oil Stocks

Page 17 - 19: Oil Imports & exports

Page 20: OPEC Spare Capacity

Page 21 - 23: Middle East Production Charts

Page 24: Europe Production Charts

Page 25 - 27: Africa Production Charts

Page 28: Asia Production Charts

Page 29: Former USSR Production Charts

Page 30 - 31: North America Production Charts

Page 32: South America Production Charts

Page 33: Oceania Production Charts

ASPO Netherlands

Rembrandt Koppelaar +31 (0)6 44082419 [email protected]

www.peakoil.nl

Powered by www.theoildrum.com

18 August 2010 - (next update: 15 September 2010)

Oilwatch Monthly - August 2010

Chart 1: Oil Price Weighed Average of Blends

Source: Energy Information Admistration

China’s oil consumption and giant oil fields

Last year China surpassed the United States as largest energy consuming country of the world according to the International Energy Agency. The US still consumes far more oil than China, however, at an average of 19 million barrels per day in the first half of 2010 versus 8.8 million in China. Growth in Chinese oil consumption has remained quite strong throughout the years at an average of 7% since 2003 while US consumption initially was stable around 20.7 million b/d until the economic crisis caused a consumption decline. If the current pace of Chinese growth could be continued and US consumption would stabilize it would take at least until 2020 for China to surpass US oil consumption levels.

That change alone would require at least 10 million barrels of additional Chinese oil imports and probably more due to the onset of peak oil in China in this decade. In “the development journey and outlook of Chinese giant oilfields” published in Petroleum Exploration and development in April of this year, Hook et al. find that 70% of Chinese oil production was obtained from 9 giant oil fields. Five of these are already in decline, three will begin their decline around 2009/2010 and only one, the giant Xinjiang will be able to maintain its current plateau production until around 2020. The overall conclusions from the article’s authors: 1) the stable plateau in production of the nine giants maintained since the late 1980’s will turn into a decline of 3% per year around 2010, 2) It is questionable that other sources can offset declining giant oilfields production due to their large share in production. Resulting in the expectation that peak oil will arrive in China in 2010. For now China’s production is for now still rising crossing the 4 million per day barrier in April of 2010 and standing at 4.09 million b/d in July 2010 according to the International Energy Agency. Rembrandt Koppelaar

Your coverage on the latest worldwide oil market developments

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World liquid fuels productionIn July 2010 world production of all liquid fuels increased by 860,000 b/d from June according to the latest fgures of the International Energy Agency (IEA). Resulting in total world liquid fuels production of 87.22 million b/d. Liquids production for June 2010 was revised upwards in the IEA Oil Market Report of August from 86.15 to 86.36 million b/d. Average global liquid fuels production in 2009 was 84.94 versus 86.6 and 85.32 million b/d in 2008 and 2007.

World Oil Production

Chart 2: Liquids Production January 2004 - July 2010

Source: International Energy Agency

World oil production capacityTotal oil production capacity in July 2010 increased by 820,000 b/d from June 2010 from 90.16 to 90.98 million b/d. World production capacity is measured here as the sum of world liquids production excluding biofuels plus total OPEC spare capacity excluding Iraq, Venezuela and Nigeria.

Chart 4: World Production Capacity Jan. 2003 - July 2010

Source: Energy Information Administration

World biofuels productionTotal world biofuels production in June 2010 is estimated at 1.84 million b/d according to biofuel statistics of the International Energy Agency.

Chart 3: World Biofuels Production Jan. 2004 - July 2010

Source: IEA, EIA,

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World natural gas liquids productionNatural Gas Liquids production from natural gas fields increased 89,000 b/d from April to May 2010 according to the latest International Petroleum Monthly of the Energy Information Administration (EIA). Resulting in total NGL production of 8.56 million b/d.

Chart 7: Nat. Gas Liquids Production Jan. 2004 - May 2010


World crude oil productionLatest figures from the Energy Information Administration (EIA) show that crude oil production including lease condensates decreased by 103,000 b/d from April to May 2010. Resulting in total production of crude oil including lease condensates of 73.34 million b/d.

Chart 6: Crude Oil Production January 2004 - May 2010


EIA liquids versus IEA liquids excluding biofuels productionLiquid fuels production figures published by the Energy Information Administration in their International Petroleum Monthly excludes biofuels produced in countries beside the United States and Brazil. The remaining difference is caused by discrepancies between natural gas liquids and Canadian unconventional oil production.

Chart 5: EIA & EIA Liquids Comparison Jan. 2004 - July 2010



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World energy content from liquid fuels productionIn production statistics all liquid fuels are aggregated as total ‘oil’ production while containing different amounts of energy per barrel produced. For example, a barrel of crude oil contains around 5.8 million British Thermal Units while a similar barrel of natural gas liquids contains 4.2 million BTU. Conversion to BTU’s shows that actual available energy worldwide in January 2010 was 3.3% lower than liquids statistics counted in barrels would suggest.

World unconventional liquid fuels productionIn 2008 the biggest part of unconventional liquid fuels production came from Natural Gas Liquids at 11% or 7.94 million b/d. Secondly, extra heavy crude and bitumen at 3.4% or 2.68 million b/d of which 1.27 million b/d from Canadian oil sands and 1.41 million b/d from other sources. Thirdly, Biofuels at 1.8% or 1.45 million b/d. A and finally Polar Oil at a production rate of 840,000 b/d in 2008 or 1.1% of total liquids supply.

World conventional crude versus liquids production ratioApproximately 85% of world liquid fuels production in 2008 came from conventional crude oil including lease condensates. The remaining share of 15% was produced by unconventional sources including Biofuels, Extra Heavy Oil, Tar Sands, Polar Oil and Natural Gas Liquids. In absolute amounts unconventional production has increased steadily, from 4 million b/d at the end of the 1970s, to approximately 12.9 mb/d in 2008, excluding lease condensates.

Chart 8: World Crude and Liquids production 1938 - 2008

Source: International Energy Agency & Energy Information Administration

Chart 9: Unconventional Oil Production 1938 - 2008

Source: EIA, EIA & CAPP

Chart 10: World Production in BTU January 2003 - July 2010


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OPEC natural gas liquids productionOPEC natural gas liquids remained stable from June to July 2010 at a level of 5.08 million b/d. Average OPEC natural gas liquids production in 2009 was 4.67 million b/d, versus 4.47 and 4.55 million b/d in respectively 2008 and 2007.

OPEC crude oil productionTotal crude oil production excluding lease condensates of the OPEC cartel increased by 230,000 b/d to a level of 29.2 million b/d, from June to July 2010, according to the latest available estimate of the IEA. Average crude oil production in 2009 was 28.7 million b/d, versus 31.43 and 30.37 million b/d in respectively 2008 and 2007.

OPEC liquid fuels production & production capacityTotal liquid fuels production in OPEC countries increased by 230,000 b/d from June to July 2010 to a level of 34.28 million b/d. Liquids production for June 2010 was revised upwards in the IEA Oil Market Report of August from 33.97 to 34.05 million b/d. Average liquid fuels production in 2009 was 33.7 million b/d, versus 36.09 and 35.02 million b/d in respectively 2008 and 2007. All time high production of OPEC liquid fuels stands at 36.4 million b/d reached in July 2008.

Chart 11: OPEC Liquids Production Jan. 2004 - July 2010


Chart 12: OPEC Crude Oil Production Jan. 2004 - July 2010


Chart 13: OPEC NGL Production January 2004 - July 2010


OPEC Oil Production

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Non-OPEC natural gas liquids productionNon-OPEC natural gas liquids production increased by 8,000 b/d from April to May 2010 to a level of 3.38 million b/d. Average Non-OPEC natural gas liquids production in 2009 was 3.34 million b/d, versus 3.65 and 3.79 million b/d in respectively 2008 and 2007.

Non-OPEC crude oil productionTotal Non-OPEC crude oil production including lease condensates decreased by 165,000 b/d to a level of 42.23 million b/d, from April to May 2010, according to the latest available estimate of the EIA. Crude oil production for April 2010 was revised downwards in the EIA International Petroleum Monthly of August from 42.48 to 42.40 million b/d. Average crude oil production in 2009 was 41.61 million b/d, versus 41.32 and 41.80 million b/d in respectively 2008 and 2007.

Non-OPEC liquid fuels productionTotal liquid fuels production excluding biofuels in Non-OPEC countries increased by 580,000 b/d from June to July 2010. Resulting in a production level of 51.11 million b/d according to the International Energy Agency. Liquids production for June 2010 was revised upwards in the IEA Oil Market Report of August from 50.38 to 50.52 million b/d. Average liquid fuels production in 2009 was 49.67 million b/d, versus 49.32 and 49.34 million b/d in respectively 2008 and 2007.

Chart 14: Non-OPEC Liquids Production Jan. 2004 - July 2010


Chart 15: Non-OPEC Crude Oil Production Jan. 2004 - May 2010


Chart 16: Non-OPEC NGL Production January 2004 - May 2010


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Saudi Arabia oil consumptionOil consumption in Saudi Arabia increased by 159,000 b/d from April to May 2010 to a level of 2.04 million b/d. Average Saudi Arabian oil consumption in 2009 was 1.82 million b/d, versus 1.65 and 1.52 million b/d in respectively 2008 and 2007.

Iran oil consumptionOil consumption in Iran decreased by 5,000 b/d from April to May 2010 to a level of 1.50 million b/d. Average Iranian oil consumption in 2009 was 1.52 million b/d, versus 1.64 and 1.52 million b/d in respectively 2008 and 2007.

OPEC oil consumptionOil consumption in all OPEC oil producers combined increased by 6,000 b/d from April to May 2010. Resulting in a consumption level of 6.28 million b/d. Average OPEC oil consumption in 2009 was 5.94 million b/d, versus 5.76 and 5.30 million b/d in respectively 2008 and 2007.

Chart 17: OPEC Oil Consumption January 2004 - May 2010

Source: Joint Oil Data Initiative

Chart 18: Iran Oil Consumption January 2004 - May 2010


Chart 19: Saudi Arabia Oil Consumption Jan. 2004 - May 2010


OPEC Oil Consumption

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Iraq VenezuelaUAE Saudi ArabiaQatar NigeriaLibya KuwaitIran EcuadorAngola Algeria12m rolling average

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Chart 20: OECD Oil Consumption January 2004 - May 2010


Chart 21: North America Oil Consumption Jan. 2004 - May 2010


Chart 22: EU-27 Oil Consumption January 2004 - May 2010


European Union oil consumptionOil consumption in the European Union decreased by 785,000 b/d from April to May 2010. Resulting in a consumption level of 12.48 million b/d according to JODI statistics. Average consumption in the European Union in 2009 was 13.6 million b/d, versus 14.25 and 14.32 million b/d in respectively 2008 and 2007.

North America oil consumptionOil consumption in North America increased by 1.0 million b/d from April to May 2010. Resulting in a consumption level of 23.84 million b/d. Average oil consumption in North America in 2009 was 22.51 million b/d, versus 23.50 and 24.72 million b/d in respectively 2008 and 2007.

OECD oil consumptionOil consumption in OECD countries decreased by 500,000 b/d from April to May 2010. Resulting in a consumption level of 43.43 million b/d. Average OECD oil consumption in 2009 was 43.92 million b/d, versus 46.10 and 47.68 million b/d in respectively 2008 and 2007.

OECD Oil Consumption

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Chart 23: US Oil Consumption January 2004 - May 2010


Chart 24: Mexico Oil Consumption Jan. 2004 - May 2010


Chart 25: Canada Oil Consumption January 2004 - May 2010


Canada oil consumptionOil consumption in Canada increased by 197,000 b/d from April to May 2010. Resulting in a consumption level of 2.26 million b/d. Average consumption in Canada in 2009 was 1.96 million b/d, versus 2.06 and 2.08 million b/d in respectively 2008 and 2007.

Mexico oil consumptionOil consumption in Mexico increased by 65,000 b/d from April to May 2010. Resulting in a consumption level of 1.92 million b/d. Average oil consumption in Mexico in 2009 was 1.87 million b/d, versus 1.95 and 1.94 million b/d in respectively 2008 and 2007.

United States oil consumptionOil consumption in the US increased by 744,000 b/d from April to May 2010. Resulting in a consumption level of 19.66 million b/d. Average consumption of oil in the US in 2009 was 18.68 million b/d, versus 19.50 and 20.70 million b/d in respectively 2008 and 2007.


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Chart 26: France Oil Consumption January 2004 - May 2010


Chart 27: Germany Oil Consumption Jan. 2004 - May 2010


Chart 28: Italy Oil Consumption January 2004 - May 2010


Italy oil consumptionOil consumption in Italy decreased by 61,000 b/d from April to May 2010. Resulting in a consumption level of 1.40 million b/d. Average consumption in Italy in 2009 was 1.53 million b/d, versus 1.60 and 1.67 million b/d in respectively 2008 and 2007.

Germany oil consumptionOil consumption in Germany increased by 126,000 b/d from April to May 2010. Resulting in a consumption level of 2.38 million b/d. Average oil consumption in Germany in 2009 was 2.42 million b/d, versus 2.56 and 2.47 million b/d in respectively 2008 and 2007.

France oil consumptionOil consumption in France decreased by 162,000 b/d from April to May 2010. Resulting in a consumption level of 1.66 million b/d. Average consumption of oil in France in 2009 was 1.84 million b/d, versus 1.94 and 1.94 million b/d in respectively 2008 and 2007.


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Chart 29: Spain Oil Consumption January 2004 - May 2010


Chart 30: UK Oil Consumption Jan. 2004 - May 2010


Chart 31: Poland Oil Consumption January 2004 - May 2010


Poland oil consumptionOil consumption in Poland increased by 31,000 from April to May 2010. Resulting in a consumption level of 531,000 b/d. Average consumption in Poland in 2009 was 530,000 b/d, versus 527,000 and 507,000 b/d in respectively 2008 and 2007.

United Kingdom oil consumptionOil consumption in the United Kingdom decreased by 122,000 b/d from April to May 2010. Resulting in a consumption level of 1.41 million b/d. Average oil consumption in the United Kingdom in 2009 was 1.57 million b/d, versus 1.61 and 1.67 million b/d in respectively 2008 and 2007.

Spain oil consumptionOil consumption in Spain decreased by 64,000 b/d from April to May 2010. Resulting in a consumption level of 1.36 million b/d. Average oil consumption in Spain in 2009 was 1.46 million b/d, versus 1.54 and 1.59 million b/d in respectively 2008 and 2007.


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Chart 32: Netherlands Oil Consumption Jan. 2004 - May 2010


Chart 33: Japan Oil Consumption Jan. 2004 - May 2010


Chart 34: South Korea Oil Consumption Jan. 2004 - May 2010


South Korea oil consumptionOil consumption in South Korea decreased by 115,000 b/d from April to May 2010. Resulting in a consumption level of 2.15 million b/d. Average consumption in South Korea in 2009 was 2.25 million b/d, versus 2.21 and 2.29 million b/d in respectively 2008 and 2007.

Japan oil consumptionOil consumption in Japan decreased by 489,000 b/d from April to May 2010. Resulting in a consumption level of 3.92 million b/d. Average oil consumption in Japan in 2009 was 4.43 million b/d, versus 4.92 and 5.13 million b/d in respectively 2008 and 2007.

Netherlands oil consumptionOil consumption in the Netherlands decreased by 386,000 b/d from April to May 2010 to a consumption level of 727,000 million b/d. Average oil consumption in the Netherlands in 2009 was 905,000 b/d, versus 945,000 and 920,0000 b/d in respectively 2008 and 2007.


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Chart 35: China Oil Consumption January 2004 - May 2010


Chart 36: India Oil Consumption Jan. 2004 - May 2010


Chart 37: Taiwan Oil Consumption January 2004 - May 2010


Taiwan oil consumptionOil consumption in Taiwan decreased by 27,000 b/d from April to May 2010. Resulting in a consumption level of 1.03 million b/d. Average consumption in Taiwan in 2009 was 976,000 b/d, versus 978,000 and 958,000 b/d in respectively 2008 and 2007.

India oil consumptionOil consumption in India decreased by 40,000 b/d from April to May 2010. Resulting in a consumption level of 3.03 million b/d. Average oil consumption in India in 2009 was 2.85 million b/d, versus 2.60 and 2.43 million b/d in respectively 2008 and 2007.

China oil consumptionOil consumption in China decreased by 24,000 b/d from April to May 2010. Resulting in a consumption level of 9.12 million b/d according to JODI statistics. Average oil consumption in China in 2009 was 8.05 million b/d, versus 6.92 and 7.29 million b/d in respectively 2008 and 2007.

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Chart 38: OECD Crude Oil Stocks January 2004 - June 2010


Chart 39: OECD Product Stocks January 2004 - June 2010


Chart 40: Europe Crude Oil Stocks January 2004 - June 2010


Europe crude oil stocksIndustrial inventories of crude oil in OECD Europe in June 2010 decreased to 339 from 357 million barrels in May according to the latest IEA statistics. Current OECD Europe crude oil stocks are 3 million barrels higher than the five year average of 336 million barrels. In the July Oil Market Report of the IEA a total stock level of 360 million barrels was tabulated for May which has been revised downward to 357 million barrels in the August edition.

OECD product stocksIndustrial product stocks in the OECD in June 2010 increased to 1440 million from 1435 million barrels in May according to the latest IEA Statistics. Current OECD product stocks are 30 million barrels higher than the five year average of 1410 million barrels. In the July Oil Market Report of the IEA a total stock level of 1417 million barrels was tabulated for May which has been revised upward to 1435 million barrels in the August edition.

OECD crude oil stocksIndustrial inventories of crude oil in the OECD in June 2010 decreased to 1016 million from 1028 million barrels in May according to the latest IEA statistics. Current OECD crude oil stocks are 46 million barrels higher than the five year average of 970 million barrels. In the July Oil Market Report of the IEA a total stock level of 1041 million barrels was tabulated for May which has been revised downward to 1028 million barrels in the August edition.

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Chart 41: Europe Product Stocks January 2004 - June 2010


Chart 43: Pacific Product Stocks January 2004 - June 2010


Chart 42: Pacific Crude Oil Stocks January 2004 - June 2010


Pacific product stocksIndustrial product stocks in OECD Pacific in June 2010 increased to a level of 168 from 167 million barrels in May according to the latest IEA Statistics. Current OECD Pacific product stocks are 11 million barrels lower than the five year average of 179 million barrels. In the July Oil Market Report of the IEA a total stock level of 167 million barrels was tabulated for May which remained unchanged in the August edition.

Pacific crude oil stocksIndustrial inventories of crude oil in OECD Pacific in June 2010 increased to a level of 168 from 166 million barrels in May according to the latest IEA statistics. Current OECD Pacific crude oil stocks are equal to the five year average of 168 million barrels. In the July Oil Market Report of the IEA a total stock level of 175 million barrels was tabulated for June which has been revised downward to 166 million barrels in the August edition.

Europe product stocksIndustrial product stocks in OECD Europe in June 2010 increased to 564 million from 568 million barrels in May according to the latest IEA statistics. Current OECD Europe product stocks are 9 million barrels higher than the five year average of 555 million barrels. In the July Oil Market Report of the IEA a total stock level of 573 million barrels was tabulated for May which has been revised downward to 568 million barrels in the August edition.


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Chart 44: North America Crude Oil Stocks Jan. 2004 - June 2010


Chart 45: North America Product Stocks Jan. 2004 - June 2010


Chart 46: United States Gasoline Stocks Jan. 2004 - July 2010


US gasoline stocksGasoline stocks in the United States in July 2010 increased to 222 million from 218 million barrels in June according to the latest EIA Statistics. Current Gasoline stocks are 12 million barrels higher than the five year average of 210 million barrels.

North America product stocksIndustrial product stocks in North America in June 2010 increased to 708 million from 700 million barrels in May according to the latest IEA Statistics. Current North American product stocks are 32 million barrels higher than the five year average of 676 million barrels. In the July Oil Market Report of the IEA a total stock level of 677 million barrels was tabulated for May which has been revised upward to 700 million barrels in the August edition.

North America crude oil stocksIndustrial inventories of crude oil in OECD North America in June 2010 increased to 508 from 505 million barrels in May according to the latest IEA statistics. Current OECD North America crude oil stocks are 42 million barrels higher than the five year average of 466 million barrels. In the July Oil Market Report of the IEA a total stock level of 506 million barrels was tabulated for May which has been revised downward to 505 million barrels in the August edition.


250

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2003 2004 2005 2006 2007 2008 2009 2010

Mill

ion

barr

els

North America crude oil stocks (IEA)

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2003 2004 2005 2006 2007 2008 2009 2010

North America product stocks (IEA)

100

125

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200

225

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2003 2004 2005 2006 2007 2008 2009 2010

US gasoline stocks (EIA)

ASPO Netherlands

Chart 47: Mexico oil exports 1st qrt. 2002 - 3rd qrt. 2009


Chart 48: UK oil exports 1st qrt. 2002 - 3rd qrt. 2009


Chart 49: Norway oil exports 1st qrt. 2002 - 3rd qrt. 2009


Norway oil exportsOil exports from Norway increased by 130,000 b/d from 2nd qrt. 2009 to 3rd qrt. 2009 to a level of 1.73 million b/d. Average oil export from Norway in 2009 up to the 3rd qrt. was 1.74 million b/d, versus 1.67, 1.97, and 2.17 million b/d in respectively 2008, 2007 and 2006.

United Kingdom oil exportsCrude oil exports from the United Kingdom decreased by 246,000 b/d from 2nd qrt. 2009 to 3rd qrt. 2009 to a level of 768,000 b/d. Average oil export from the United Kingdom in 2009 up to the 3rd qrt. was 886,000 b/d, versus 957,000 b/d, 1.02, and1.0 million b/d in respectively 2008, 2007 and 2006. Since 2004 the United Kingdom became a net importer of oil. Net imports were 387,000 b/d in 3rd qrt. 2009.

Mexico oil exportsCrude oil exports from Mexico decreased by 10,000 b/d from 2nd qrt. 2009 to 3rd qrt. 2009 to a level of 1.32 million b/d. Average oil export from Mexico in 2009 up to the 3rd qrt. was 1.35 million b/d, versus 1.55, 1.85, and 2.04 million b/d in respectively 2008, 2007 and 2006.

Oil Imports & Exports

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1.0

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2002 2003 2004 2005 2006 2007 2008 2009

Mill

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barr

els

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day

Liquids exports (IEA)

Liquids Production (IEA)

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2002 2003 2004 2005 2006 2007 2008 2009



Liquids imports (IEA)

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2002 2003 2004 2005 2006 2007 2008 2009



ASPO Netherlands

Chart 50: Denmark oil exports 1st qrt. 2002 - 3rd qrt. 2009


Chart 51: Australia oil exports 1st qrt. 2002 - 3rd qrt. 2009


Chart 52: Japan Oil Imports 1st qrt. 2002 - 3rd qrt. 2009


Japan oil importsOil imports in Japan remained stable at 3.43 million b/d from 2nd qrt. to 3rd qrt. 2009. Average oil import in Japan in 2009 up to 3rd qrt. was 3.58 million b/d, versus 4.12, 4.09 and 4.15 million b/d in respectively 2008, 2007, and 2006.

Australia oil exportsOil exports from Australia increased by 14,000 b/d from 2nd qrt. to 3rd qrt. 2009 to a level of 255,000 b/d. Average oil export from Australia in 2009 up to 3rd qrt. was 252,000 b/d, versus 270,000, 252,000 b/d and 217,000 b/d in respectively 2008, 2007, and 2006.

Denmark oil exportsOil exports from Denmark increased by 29,000 b/d from 2nd qrt. to 3rd qrt. 2009 to a level of 212,000 b/d. Average oil export from Denmark in 2009 up to 3rd qrt. was 187,000 b/d, versus,184,000, 191,000 and 233,000 b/d in respectively 2008, 2007, and 2006.


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2002 2003 2004 2005 2006 2007 2008 2009

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els

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day




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2002 2003 2004 2005 2006 2007 2008 2009




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2002 2003 2004 2005 2006 2007 2008 2009

Liquids (IEA)

ASPO Netherlands

Chart 53: OECD Oil Imports 1st qrt. 2002 - 3rd qrt. 2009


Chart 54: USA Oil Imports 1st qrt. 2002 - 3rd qrt. 2009


Chart 55: OECD Europe Oil Imports 1st qrt. 2002 - 3rd qrt. 2009


OECD Europe oil importsOil imports from OECD Europe decreased by 14,000 b/d from 2nd qrt. to 3rd qrt. 2009 to a level of 12.02 million b/d. Average oil import in OECD Europe in 2009 up to 3rd qrt. was 12.01 million b/d, versus 12.98, 13.05 and 13.18 million b/d in respectively 2008, 2007, and 2006.

United States oil importsOil imports in the United States increased by 78,000 b/d from 2nd qrt. to 3rd qrt. 2009 to a level of 10.64 million b/d. Average oil import in the United States in 2009 up to 3rd qrt. was 10.68 million b/d, versus 11.43, 11.55 and 11.77 million b/d in respectively 2008, 2007, and 2006.

OECD oil importsOil imports in the group of OECD countries increased by 395,000 million b/d from 2nd qrt. to 3rd qrt. 2009 to a level of 29.84 million b/d. Average oil import in OECD countries in 2009 up to 3rd qrt. was 29.91 million b/d, versus 32.19, 32.47 and 32.7 million b/d in respectively 2008, 2007, and 2006.


29.0

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30.0

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2002 2003 2004 2005 2006 2007 2008 2009

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els

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day

Liquids (IEA)

9.0

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2002 2003 2004 2005 2006 2007 2008 2009

Liquids (IEA)

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2002 2003 2004 2005 2006 2007 2008 2009

Liquids (IEA)

ASPO Netherlands

Chart 56: IEA OPEC Spare Capacity January 2003 - July 2010


Chart 57: EIA OPEC Spare Capacity January 2003 - July 2010


Chart 58: Saudi Arabia Spare Capacity Jan. 2003 - July 2010


Saudi Arabia spare capacitySpare capacity in Saudi Arabia decreased from 3.85 to 3.75 million b/d from June to July 2010 according to the Energy Information Administration. Statistics from the International Energy Agency show Saudi spare capacity increasing from 3.85 to 3.92 million from June to July 2010.

EIA OPEC spare capacityTotal OPEC spare production capacity in July 2010 dereased by 10,000 b/d to a level of 4.96 million b/d from 5.05 million b/d in June according to the Energy Information Administration. Of total effective spare capacity an additional 3.75 million b/d is estimated to be producible by Saudi Arabia, the United Arab Emirates 0.30 million b/d, Angola 0.1 million b/d, Iran 0.1 million b/d, Libya 0.15 million b/d, Qatar 0.26 million b/d, and the other remaining countries 0.15 million b/d.

IEA OPEC spare capacityAccording to the International Energy Agency total effective spare capacity (excluding Iraq, Venezuela and Nigeria) increased from June to July 2010 by 10,000 b/d to a level of 5.6 million b/d. Of total effective spare capacity an additional 3.92 million b/d is estimated to be producible by Saudi Arabia within 90 days, the United Arab Emirates 0.36 million b/d, Angola 0.26 million b/d, Iran 0.31 million b/d, Libya 0.12 million b/d, Qatar 0.2 million b/d, and the other remaining countries 0.43 million b/d.

OPEC Spare Capacity

0

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8

2003 2004 2005 2006 2007 2008 2009 2010

Mill

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els

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Venezuela UAESaudi Arabia QatarNigeria LibyaKuwait IraqIran EcuadorAngola Algeria

0

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2003 2004 2005 2006 2007 2008 2009 2010

Venezuela UAESaudi Arabia QatarNigeria LibyaKuwait IraqIran EcuadorAngola Algeria

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2003 2004 2005 2006 2007 2008 2009 2010

Saudi spare capacity (IEA)

Saudi spare capacity (EIA)

ASPO Netherlands

Chart 59: Kuwait Liquids Production 1945 - 2008

Source: ASPO Ireland & BP Statistical Review of World Energy

Chart 62: Kuwait Oil Production January 2004 - July 2010


Chart 61: Qatar Liquids Production 1945 - 2008


Chart 64: Qatar Oil Production January 2004 - July 2010


Chart 60: Iran Liquids Production 1930 - 2008


Chart 63: Iran Oil Production January 2004 - July 2010


0.0

0.5

1.0

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2.0

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1945 1957 1969 1981 1993 2005

Mill

ion

barr

els

per

day Liquids

0.0

1.0

2.0

3.0

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1930 1945 1960 1975 1990 2005

Liquids

0.0

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0.6

0.8

1.0

1.2

1.4

1945 1957 1969 1981 1993 2005

Liquids

Middle East Oil Production

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2.6

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2004 2005 2006 2007 2008 2009 2010

Mill

ion

barr

els

per

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Crude Oil (IEA)

Crude Oil (EIA)


3.4

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2004 2005 2006 2007 2008 2009 2010

Crude Oil (IEA)

Crude Oil (EIA)


0.4

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2004 2005 2006 2007 2008 2009 2010

Crude Oil (IEA)Crude Oil (EIA)Liquids excluding biofuels (IEA)

ASPO Netherlands

Chart 65: Saudi Arabia Liquids Production 1935 - 2008


Chart 68: Saudi Arabia Oil Production January 2004 - July 2010


Chart 67: Iraq Liquids Production 1930 - 2008


Chart 70: Iraq Oil Production January 2004 - July 2010


Chart 66: UAE Liquids Production 1960 - 2008


Chart 69: UAE Oil Production January 2004 - July 2010


0.0

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1930 1945 1960 1975 1990 2005

Mill

ion

barr

els

per

day

Liquids

0.0

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1.0

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1960 1970 1980 1990 2000

Liquids

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1.0

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3.5

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1930 1942 1954 1966 1978 1990 2002

Liquids


7.0

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2004 2005 2006 2007 2008 2009 2010

Mill

ion

barr

els

per

day


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2004 2005 2006 2007 2008 2009 2010


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1.6

1.8

2.0

2.2

2.4

2.6

2.8

3.0

3.2

3.4

2004 2005 2006 2007 2008 2009 2010


ASPO Netherlands

Chart 71: Oman Liquids Production 1965 - 2008


Chart 74: Oman Oil Production January 2004 - July 2010


Chart 73: Syria Liquids Production 1930 - 2008


Chart 76: Syria Oil Production January 2004 - July 2010


Chart 72: Yemen Liquids Production 1985 - 2008


Chart 75: Yemen Oil Production January 2004 - July 2010


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0.2

0.4

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1965 1975 1985 1995 2005

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els

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day Liquids

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1985 1990 1995 2000 2005

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1965 1975 1985 1995 2005

Liquids


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2004 2005 2006 2007 2008 2009 2010

Mill

ion

barr

els

per

day Liquids (IEA)

Crude Oil (EIA)

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2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)

Crude Oil (EIA)

0.30

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2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)

Crude Oil (EIA)

ASPO Netherlands

Chart 77: Denmark Liquids Production 1970 - 2008


Chart 80: Denmark oil production January 2004 - May 2010


Chart 79: UK Liquids Production 1970 - 2008


Chart 82: UK oil production January 2004 - July 2010


Chart 78: Norway Liquids Production 1970 - 2008


Chart 81: Norway oil production January 2004 - July 2010


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1970 1975 1980 1985 1990 1995 2000 2005

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ion

barr

els

per

day Liquids

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1970 1975 1980 1985 1990 1995 2000 2005

Liquids

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1970 1975 1980 1985 1990 1995 2000 2005

Liquids

Europe Oil Production

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2004 2005 2006 2007 2008 2009 2010

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els

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0.000.400.801.201.602.002.402.803.203.604.004.40

2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)

Crude Oil (EIA)

0.00

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0.80

1.20

1.60

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2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)

Crude Oil (EIA)

ASPO Netherlands

Chart 83: Algeria Liquids Production 1955 - 2008


Chart 86: Algeria Oil Production January 2004 - July 2010


Chart 85: Libya Liquids Production 1970 - 2008


Chart 88: Libya Oil Production January 2004 - July 2010


Chart 84: Angola Liquids Production 1960 - 2008


Chart 87: Angola Oil Production January 2004 - July 2010


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1955 1965 1975 1985 1995 2005

Mill

ion

barr

els

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day Liquids

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1960 1970 1980 1990 2000

Liquids

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1960 1970 1980 1990 2000

Liquids

Africa Oil Production

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2004 2005 2006 2007 2008 2009 2010

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ion

barr

els

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day


0.81.01.21.41.61.82.02.22.42.62.83.0

2004 2005 2006 2007 2008 2009 2010


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2004 2005 2006 2007 2008 2009 2010


ASPO Netherlands

Chart 89: Nigeria Liquids Production 1955 - 2008


Chart 92: Nigeria Oil Production January 2004 - July 2010


Chart 91: Gabon Liquids Production 1955 - 2008


Chart 94: Gabon Oil Production January 2004 - July 2010


Chart 90: Egypt Liquids Production 1940 - 2008


Chart 93: Egypt Oil Production January 2004 - July 2010


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1955 1965 1975 1985 1995 2005

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ion

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1955 1965 1975 1985 1995 2005

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2004 2005 2006 2007 2008 2009 2010

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Crude Oil (EIA)

0.140.160.180.200.220.240.260.280.300.320.340.36

2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)Crude Oil (EIA)

ASPO Netherlands

Chart 95: Eq. Guinea Oil Production January 2004 - April 2010


Chart 98: Other Africa Oil Production Jan. 2002 - May 2010


Chart 97: Vietnam Liquids Production 1985 - 2008


Chart 100: Vietnam Oil Production January 2004 - May 2010


Chart 96: Sudan Liquids Production January 2002 - April 2010


Chart 99: Other Asia liquids Production Jan. 2002 - May 2010


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2004 2005 2006 2007 2008 2009 2010

Crude Oil (EIA)

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2004 2005 2006 2007 2008 2009 2010

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2004 2005 2006 2007 2008 2009 2010


Crude Oil (EIA)

ASPO Netherlands

Chart 101: China Liquids Production 1950 - 2008


Chart 104: China Oil Production January 2004 - July 2010


Chart 103: Malaysia Liquids Production 1955 - 2008


Chart 106: Malaysia Oil Production January 2004 - July 2010


Chart 102: India Liquids Production 1960 - 2008


Chart 105: India Oil Production January 2004 - July 2010


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1970 1980 1990 2000

Liquids

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1960 1970 1980 1990 2000

Liquids

Asia Oil Production

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3.60

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2004 2005 2006 2007 2008 2009 2010

Mill

ion

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els

per

day

Liquids (IEA)

Crude Oil (EIA)

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2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)

Crude Oil (EIA)

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2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)

Crude Oil (EIA)

ASPO Netherlands

Chart 107: Azerbaijan Liquids Production 1930 - 2008


Chart 110: Azerbaijan Oil Production January 2004 - May 2010


Chart 109: Russia Liquids Production 1955 - 2008


Chart 112: Russia Oil Production January 2004 - July 2010


Chart 108: Kazakhstan Liquids Production 1945 - 2008


Chart 111: Kazakhstan Oil Production January 2004 - May 2010


0.0

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1930 1940 1950 1960 1970 1980 1990 2000

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ion

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els

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day Liquids

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1945 1955 1965 1975 1985 1995 2005

Liquids

0.0

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1955 1965 1975 1985 1995 2005

Liquids

Former USSR Oil Production

0.00

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2004 2005 2006 2007 2008 2009 2010

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ion

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0.80

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2004 2005 2006 2007 2008 2009 2010


Crude Oil (EIA)

8.0

8.5

9.0

9.5

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11.0

11.5

2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)

Crude Oil (EIA)

ASPO Netherlands

Chart 113: US Liquids Production 1930 - 2008


Chart 116: US Oil Production January 2004 - July 2010


Chart 115: Mexico Liquids Production 1930 - 2008


Chart 118: Mexico Oil Production January 2004 - July 2010


Chart 114: Canada Liquids Production 1945 - 2008


Chart 117: Canada Oil Production January 2004 - July 2010


0.0

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1930 1945 1960 1975 1990 2005

Mill

ion

barr

els

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day

Liquids

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1945 1960 1975 1990 2005

Liquids

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1930 1945 1960 1975 1990 2005

Liquids

North America Oil Production

3.0

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11.0

2004 2005 2006 2007 2008 2009 2010

Mill

ion

barr

els

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day


Crude Oil (EIA)

2.02.22.42.62.83.03.23.43.63.84.04.2

2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)

Crude Oil (EIA)

2.42.62.83.03.23.43.63.84.04.24.44.6

2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)

Crude Oil (EIA)

ASPO Netherlands

Chart 119: Argentina Liquids Production 1930 - 2008


Chart 122: Argentina Oil Production January 2004 - July 2010


Chart 121: Colombia Liquids Production 1930 - 2008


Chart 124: Colombia Oil Production January 2004 - July 2010


Chart 120: Brazil Liquids Production 1955 - 2008


Chart 123: Brazil Oil Production January 2004 - July 2010


0.0

0.1

0.2

0.3

0.4

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1930 1942 1954 1966 1978 1990 2002

Mill

ion

barr

els

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day Liquids

0.0

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1955 1965 1975 1985 1995 2005

Liquids

0.0

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1930 1940 1950 1960 1970 1980 1990 2000

Liquids

South America Oil Production

0.50

0.55

0.60

0.65

0.70

0.75

0.80

0.85

0.90

0.95

1.00

2004 2005 2006 2007 2008 2009 2010

Mill

ion

barr

els

per

day

Liquids (IEA)

Crude Oil (EIA)

1.20

1.40

1.60

1.80

2.00

2.20

2.40

2.60

2.80

3.00

2004 2005 2006 2007 2008 2009


Crude Oil (EIA)

0.40

0.45

0.50

0.55

0.60

0.65

0.70

0.75

0.80

0.85

0.90

2004 2005 2006 2007 2008 2009 2010

Liquids (IEA)

Crude Oil (EIA)

ASPO Netherlands

Chart 125: Ecuador Liquids Production 1970 - 2008


Chart 127: Ecuador Oil Production January 2004 - July 2010


Chart 129 Other S. America oil production Jan. 2004 - July 2010


Chart 126: Venezuela Liquids Production 1930 - 2008


Chart 128: Venezuela Oil Production January 2004 - July 2010


0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

1930 1940 1950 1960 1970 1980 1990 2000

Liquids

0.0

0.1

0.2

0.3

0.4

0.5

0.6

1970 1975 1980 1985 1990 1995 2000 2005

Mill

ion

barr

els

per

day Liquids

South America Oil Production

0.44

0.46

0.48

0.50

0.52

0.54

0.56

0.58

0.60

2004 2005 2006 2007 2008 2009 2010

Mill

ion

barr

els

per

day

Crude Oil (IEA)Crude Oil (EIA)

1.61.82.02.22.42.62.83.03.23.43.63.84.0

2004 2005 2006 2007 2008 2009 2010


0.30

0.35

0.40

0.45

0.50

0.55

0.60

0.65

0.70

2004 2005 2006 2007 2008 2009 2010

Liquids (IEA + EIA)

ASPO Netherlands

Chart 130: Australia Liquids Production 1970 - 2008


Chart 132: Australia Oil Production January 2004 - July 2010


Chart 131: Indonesia Liquids Production 1930 - 2008


Chart 133: Indonesia Oil Production January 2004 - July 2010


0.0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

1.0

1965 1975 1985 1995 2005

Mill

ion

barr

els

per

day Liquids

0.0

0.5

1.0

1.5

2.0

1930 1945 1960 1975 1990 2005

Liquids

Oceania Oil Production

0.30

0.35

0.40

0.45

0.50

0.55

0.60

0.65

0.70

0.75

0.80

2004 2005 2006 2007 2008 2009 2010

Mill

ion

barr

els

per

day


0.85

0.90

0.95

1.00

1.05

1.10

1.15

1.20

1.25

1.30

2004 2005 2006 2007 2008 2009 2010


oilwatch monthly - august 2010

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