Tag Archives: Russia

Road Map to the Next Repricing of Oil: September Issue of TerraJoule.us

Each issue of TerraJoule.us contains:?a Main Essay, a Model Portfolio, a Data Brief, and a link to a?Downloadable Podcast. Gregor Macdonald, Editor. Readers may purchase each issue individually, through Ganxy.com: Purchase. Or, readers may also take a 12 month subscription through Gumroad.com: Annual Subscription. This month’s publication,?Road Map to the Next Repricing of Oil, ?explains […]

A New Dawn of Energy Security for the West? A Non-OPEC Update

OPEC currently supplies the world with 43% of its oil. The rest is supplied by Non-OPEC producers. One of the most important distinctions between the two is that OPEC oil largely comes from state-run oil companies. Saudi Aramco in Saudi Arabia, PDVSA in Venezuela, and the National Oil Company of Iran, for example. Meanwhile, in […]

Global Oil Production Update: A Strange Future Has Arrived

Since 2005, European oil consumption has fallen by 1.5 million barrels a day. And, in the same period, US oil consumption has fallen by 2 million barrels a day. If oil was priced at $60 a barrel, rather than $100 a barrel, then a fair portion of that lost demand might return. Instead, since 2005, […]

Under the Surface of Non-OPEC Supply

In 2002 Non-OPEC oil production contributed 60.75% of the world’s total oil supply. But technology, competition, and access to capital through listings on stock exchanges have not been able to overcome limits of geology. Global giants such as Royal Dutch Shell and Exxon Mobil have essentially abandoned the effort to meaningfully expand their oil reserves. […]

Saudia Arabia and Russia

In a recent interview on the Keiser Report I found myself casually mentioning that Russia had now surpassed Saudi Arabia to become the number one oil producer in the world. This is not an event that happened last month, either. The leap forward emerged as far back as 18 months ago, in October of 2008. […]

Gaze Upon the Glory of Free Market Oil

40% of global oil supply is provided by OPEC, and 60% of global oil supply is provided by Non-OPEC oil producers. Russia is a Non-OPEC oil producer but if we take Russia out of that category, we are left with 44% of global supply. This sub-category, Non-OPEC ex Russia, is what I refer to as […]

Learning from Lagos

The September issue of เกมยิงปลาสุดมันส์ www.dongythoxuanduong.com Monthly, Learning from Lagos, addresses key events earlier this decade that helped to reveal the structural changes in the global oil system. From Moscow’s Spring 2004 attack on Khodorkovsky and Yukos, to the late 2005 campaign initiated by MEND in the Niger Delta, these actions at the margins of world […]

Without Russia

Where would the world be without the extraordinary growth in Russian oil supply, this decade? Not in a good place, actually. Russia’s near 50% oil production increase since the year 2000 did alot of heavy lifting.? And it’s concerning that this very fast growth rate has now topped out. North American crude oil production (Canada […]

non-OPEC Oil Production Has Peaked

Yawn. non-OPEC oil production peaked in late 2006 above 41 Mb/day. It’s unlikely we’ll ever see those production levels again. It’s also unlikely, if you follow oil supply, you’ll be shocked by the revelation. That said, it’s worth laying out how this happened. From 01 January 2003 to the price highs 2008 the price of […]

As America Frets, China Buys Stuff

While the US frets over loan modification programs and scary words like Nationalization, China buys stuff. Base metals stuff. Iron ore stuff. And some stuff called “oil.” in the past few weeks, investment and operational arms of the Chinese State have reached out across the world to pick up distressed assets. The first strike was […]