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Saudi Triples Reserve Estimates to 1.2 Trillion Barrels
Geology; Reserves; Oil FieldsRincewind writes: Dear All,
I am sure you will find this article of interest if not a little perplexing.
cheers
Doug Clover

arabnews.com
Posted on Friday, June 25 @ 04:59:12 PDT by admin
 
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Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 1)
by ConCit on Friday, June 25 @ 05:13:39 PDT
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Looks like "Baghdad Bob" got a new job as spokesperson for Saudi Aramco.

Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 1)
by clv101 on Friday, June 25 @ 07:51:23 PDT
(User Info | Send a Message) http://www.vitaltrivia.co.uk
Wow incredible – who do these guys think there are kidding. Though we much admit no one outside Saudi Aramco really know what Saudi reserves are like. We do know that the North Sea can't double production let alone maintain it for 50 years. That statement devalues the credibility of the whole statement. We also know what the tanker and refinery network are capable of and even if by some miracle they can pump 15 million barrels a day we can handle and process it.

Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 1)
by Madpaddy (mickeymouse@yahoo.com) on Friday, June 25 @ 09:32:14 PDT
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Well, I for one want to believe the report. So I have scrapped my plans to build a windfarm. Cheap oil for the next 50 years - hurray and who cares about the grandchildren.

Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 1)
by BEEF3000 on Friday, June 25 @ 17:38:21 PDT
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This is rather old and I believe someone else already pointed out that Mr. Naimi was misquoted badly. He was talking about world reserves. He explicitly states the Saudi reserves are "estimated at 261 billion barrels", which are the official numbers. Whether or not <i>those</i> estimates are correct is a different matter. You can view and download the entire transcript of the conference at: http://www.csis.org/energy/040427_transcript.pdf

Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 0)
by Guest on Friday, June 25 @ 18:49:43 PDT
"...Kingdom’s previous estimate of 261 billion barrels of recoverable petroleum has now more than tripled, to 1.2 trillion barrels"<br /> <br /> Really!?<br /> <br /> The first rule of spoof numbers is that they don't add up. I had a double-take on this - the real ratio is 4.6 times! Maybe that just sounds too silly - so "triple" is used for the headline. Does Saudi Arabia now include Iraq, Iran and Kuwait (and Russia) in it's territory???<br />

Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 1)
by tkn317071 on Friday, June 25 @ 19:08:30 PDT
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Okay, I'll take that with a large grain of salt...<br /> <br /> After all, when the choice between who to believe is the perenially secretive (and oppressive) Saudi government and the (as far as I know) totally open and transparent ASPO et al, the choice seems fairly clear. <br /> <br />

Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 1)
by Aaron on Friday, June 25 @ 19:35:30 PDT
(User Info | Send a Message) http://dlf.peakoil.com/4XSITE.html
Well I guess we can close the website... I'll notify the peak community that we are saved.<br /> <br /> Good knowing you all...<br /> <br /> Look for our new website coming soon:<br /> <br /> http://lyingcorporatemummies.not

Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 1)
by Rincewind (doug.clover@REMOVEparadise.TAKEOUTnet.nz) on Sunday, June 27 @ 21:43:29 PDT
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I have followed this article up further and it does appear that it was based on a misquote. So back to business as usual.

In my defense the reason I thought it was worthy for posting was based on past, let's say optimistic, statements by Aramco about SA reserves. This at first seemed to be more of the same.

Sorry for raising the blood pressure.

kind regards

Doug

Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 1)
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Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 1)
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Re: Saudi Triples Reserve Estimates to 1.2 Trillion Barrels (Score: 1)
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