Peak Oil News >> Production; Extraction; Exploration >> Saudi oil reserves could top 461 billion barrels

Forums

Submit News

View posts since last visit

Menu

News

	Search
	Topics
	Stories Archive
	Submit News

Discussions

	Code of Conduct
	Forums
	Forums Search
	Last 24 Hours
	PO 24hrs
	Peak Blog

Resources

	About Us
	Downloads
	Web Links
	PeakWiki
	PeakPortal
	Focus Search
	Peak TV
	Peak Gear

Members

	Your Account
	Members List
	Ignore List
	JOIN!
	Private Messages

Light Sweet Crude Oil

google

PeakSpeak

Download TeamSpeak
What is PeakSpeak?
Peak Oil on IRC

Member Quotes

We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.

Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.

We are going to have to import more of our oil. Period.

MonteQuest

Suggest Quote

Photo Album
Submit Photo

Peakoil.com is You!

member photos

Saudi oil reserves could top 461 billion barrels

dandare23 writes:
Saudi oil reserves could top 461 billion barrels, says minister

2004-12-26 16:51:00

RIYADH, Saudi Arabia (AP) - The kingdom's oil reserves, the world's largest, could increase by almost 77 per cent to top 461 billion barrels in a few years, the country's oil minister said Sunday.

"

There are big chances to increase the kingdom's produceable oil reserves by 200 billion barrels," Ali Naimi said in a statement issued after he inaugurated new oilfields in eastern Saudi Arabia. "This will come either through new discoveries or through increasing production from known deposits." Saudi Arabia says its registered reserves amount to 261 billion barrels.

Naimi reiterated promises to continue meeting consumer demand for world crude.

"The kingdom is keen to ensure a balance between supply and demand and the stability of the market . . . so that producers benefit and consumers do not lose," the official Saudi News Agency quoted him as saying.

The newly-inaugurated Qatif Producing Plants, operated by the Saudi national oil giant Aramco, is believed to have a capacity of 800,000 barrels per day. The plants will also provide 10 million cubic metres of associated gas.

The onshore part of the field has the capacity to provide 500,000 barrels a day of Arabian light crude, the statement said.

The new offshore Abu-Sa'fah field contains an estimated 6.1 billion barrels of oil reserves and will produce 300,000 bpd of Arabian medium crude.

Naimi has said the kingdom plans to increase its oil production capacity to 12.5 million bpd from the current 11 million over the next few years.
http://money.canoe.ca/News/Sectors/Energy/2004/12/26/798009-ap.html

Posted on Monday, December 27 @ 03:15:41 PST by aaron

Most read story about Production; Extraction; Exploration:
Does Thermal Depolymerization Solve the Problem of Peak Oil?

Article Rating

Average Score: 2
Votes: 1

Options

Printer Friendly

Send to a Friend

"Login" | Login/Create an Account | 4 comments | Search Discussion

The comments are owned by the poster. We aren't responsible for their content.

No Comments Allowed for Anonymous, please register

Re: Saudi oil reserves could top 461 billion barrels (Score: 1)
by scareduck on Monday, December 27 @ 14:16:09 PST
(User Info | Send a Message)

Still waiting for that 13Mbpd capacity that was due to come online by the end of the year to hit...

Re: Saudi oil reserves could top 461 billion barrels (Score: 1)
by Heineken on Tuesday, December 28 @ 18:41:53 PST
(User Info | Send a Message) http://peakoil.com

Sheer bluff. We've seen it before, and the market is starting not to believe.

In any case, more supply will only spur more demand, so you have a wash leading to the same inevitable conclusion.

Re: Saudi oil reserves could top 461 billion barrels (Score: 1)
by enhance45 on Monday, May 29 @ 22:14:43 PDT
(User Info | Send a Message)

boy shopping [kth.i24.pl].:. lingerie sellers [www.friedrichshagener-dichterkreis.de].:. rough shipment [www.tu-dresden.de].:. family orgies cheapest [www.programmo.net].:. hairless online auctions [www.tu-dresden.de].:. bisexuals cheapest [www.tu-dresden.de].:. bi closeouts [www.tu-dresden.de].:. cum swallowing online [www.friedrichshagener-dichterkreis.de].:. hairy online auctions [www.programmo.net].:. animal buying [kth.i24.pl].:. bbw shipment [www.tu-dresden.de].:. bizarre shipment [www.programmo.net].:. lesbo bestbuy [kth.i24.pl].:. celebrety buyers [www.tu-dresden.de].:. plumper closeout [www.friedrichshagener-dichterkreis.de].:.

Re: Saudi oil reserves could top 461 billion barrels (Score: 1)
by allocate18 on Wednesday, June 07 @ 20:13:58 PDT
(User Info | Send a Message)

transvestite shops [kth.i24.pl].:. granny resellers [kth.i24.pl].:. farm buyback [kth.i24.pl].:. pissing supplier [kth.i24.pl].:. lesbians buyback [kth.i24.pl].:. celebrety add to cart [kth.i24.pl].:. latin retailers [kth.i24.pl].:. latex distributors [kth.i24.pl].:. gangbang purchase [kth.i24.pl].:. facial bestbuy [kth.i24.pl].:. horse sex shopping [kth.i24.pl].:. pregnant online [kth.i24.pl].:. animal cheapest [kth.i24.pl].:. family orgies shipment [kth.i24.pl].:. scat on sale [kth.i24.pl].:.