Subscribe free to our newsletters via your
. Medical and Hospital News .




ENERGY TECH
Texas holds No. 1 oil spot, EIA saysw
by Daniel J. Graeber
Washington (UPI) Apr 11, 2013


OPEC output slumps, IEA says
Paris (UPI) Apr 11, 2013 -Oil output from members of the Organization of Petroleum Exporting Countries was sharply lower in March, the International Energy Agency said Friday.

IEA released its monthly oil market report Friday. It said global oil supplies declined by 1.2 million barrels per day to 91.8 million bpd last month, led by "steeply lower" output from OPEC producers.

IEA, which has headquarters in Paris, said crude oil supplies from OPEC dropped by 890,000 bpd to 29.62 million bpd last month, led primarily by declines from Iraq, Libya and Saudi Arabia.

In its own report earlier this week, OPEC said demand for its crude oil is expected to average 29.6 million bpd, a 400,000 bpd decline from the previous year.

IEA said, however, that global oil supplies were up by 1.1 million bpd year-on-year, lead by producers outside the 12-member OPEC cartel.

"Non‐OPEC growth of 1.98 million bpd more than offset a nearly 1 million bpd drop in OPEC crude," IEA said.

OPEC's April report said non-OPEC production was coming primarily from North America. Non-OPEC supply last year averaged 54.2 million bpd, a 1.34 million bpd increase from 2012.

[IEA]

[OPEC]

Texas recorded the largest increase in proven oil reserves of any state, eclipsing North Dakota by nearly 2 billion barrels, the U.S. Energy Department said.

The Energy Information Administration, the statistical arm of the Energy Department, said Texas and North Dakota helped pushed proven crude oil reserves in the country to record highs.

EIA said proved oil reserves in 2012, the last full year for which complete data are available, increased for the fourth consecutive year and were the highest since 1976.

"At the state level, Texas recorded the largest volumetric increase, up 3.0 billion barrels, in proved oil reserves among individual states, largely because of development in the Permian and Western Gulf basins," EIA said in a report Thursday.

"North Dakota had the second-largest increase, up 1.1 billion barrels, driven by development of the Bakken and Three Forks formations in the Williston Basin."

So-called tight oil plays accounted for 22 percent of the proven reserves, or about 7.3 billion barrels.

In its monthly market report, released earlier this week, EIA said oil production this year should average 8.4 million barrels per day, a 13.5 percent increase from 2013.

In 2013, crude oil production from the Eagle Ford formation averaged 1.1 million bpd while Bakken produced an average 900,000 bpd.

[EIA]

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





ENERGY TECH
British economy still tied to oil
London (UPI) Apr 9, 2013
Though the British economy is striving to focus more on renewable resources, oil will continue to play a crucial role, a government report said Wednesday. The British Department of Energy and Climate Change published its assessment of the downstream, or refining, sector of the industry. British Energy Minister Michael Fallon said the British economy will need more than 360 million barre ... read more


ENERGY TECH
New risk factors for avalanche trigger revealed

Obama to visit US landslide site as death toll rises

Chileans scramble for supplies after new quake

MH370 searchers detect promising acoustic lead

ENERGY TECH
USAF Awards Lockheed Martin Full Production Contracts For Next Two GPS 3 Satellites

PSLV-C24 Launches India's Second Dedicated Navigation Satellite IRNSS-1B

Indian navigation satellite soars into orbit, step closer to own GPS-like system

India to have own satellite navigation system by 2015

ENERGY TECH
Indigenous societies' 'first contact' typically brings collapse, but rebounds are possible

Technofossils are an unprecedented legacy left behind by humans

Scientists build 'designer' chromosome

New Technique Sheds Light on Human Neural Networks

ENERGY TECH
Hummingbird evolution soared after they invaded South America 22 million years ago

Bacteria Get New Badge as Planet's Detoxifier

Saving plants from cyanide with carbon dioxide

Kayakers captures video of elusive oarfish

ENERGY TECH
West Africa mobilises against Ebola epidemic

Liberia confirms spread of 'unprecedented' Ebola epidemic

Iraq reports first suspected polio case since 2000

Guinea confirms Ebola as source of deadly epidemic

ENERGY TECH
Anti-corruption activists back on trial in China

Ming-era 'chicken cup' breaks record for Chinese porcelain

Anti-corruption activists back on trial in China

Tiananmen Square dissident warns Uighur militancy on the rise

ENERGY TECH
Malaysia kidnappers telephone Chinese victim's family

China presses Malaysia to rescue kidnapped tourist

Japanese mobsters launch own website

Facebook announces steps to stop illegal gun sales

ENERGY TECH
Top Hong Kong businessman sells $928 mn Beijing property

China's GDP growth to slow to 7.5% this year, 7.3% next: IMF

China unveils mini stimulus to boost slowing economy

Bank of China 2013 net profit up 12 percent




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.