12 jun: For Art-Lovers!
14 jun: En legende er vakt til live
13-06-2012 12:06:00

UPDATE: Record Saudi, US Oil Output Offsets Libya Output - BP

Relateret indhold

--Record oil production by US/Saudi Arabia in 2011 helped ensure the world economy was supplied despite global disruptions

--Loss of oil production in Libya offset by large increases in OPEC production

--Global oil consumption increased 0.7% or 0.6 million barrels a day to reach 88 million barrels a day in 2011

(Adds details from seventh paragraph onwards.)

By Alexis Flynn

LONDON--Record oil production by Saudi Arabia and the U.S. in 2011 helped ensure the world economy was supplied with enough crude, despite the severe disruptions to the energy system that occurred last year caused by civil war in Libya and a massive earthquake and tsunami in Japan, BP PLC's (BP.LN) annual statistical review showed Wednesday.

The loss of oil production in Libya, a major supplier of light crude to Europe, was more than offset by large increases by Middle Eastern producers of the Organization of the Petroleum Exporting Countries, as well as the continued renaissance in U.S. oil and gas production, which led the way in non-OPEC output for the third year running.

"Last year is a story about disruptions and continuity. 2011 was characterized by severe hits to the energy system, but when you look at the aggregate numbers it seems like a perfectly normal year," said BP Chief Economist Christof Ruehl.

Massive increases in OPEC production combined with an efficient and sophisticated crude trading system helped ensure the world's growing demand for energy continued to be met, said Ruehl. In addition, the "tremendous redirection" of liquefied natural gas shipments away from Europe and instead to Japan to substitute for the loss of nuclear power following the tsunami was done without harming the energy needs of other fast-growing Asian countries such as China.

Global oil consumption increased 0.7% or 0.6 million barrels a day to reach 88 million barrels a day in 2011, marking the weakest global growth rate among fossil fuels in BP's statistical review. Oil consumption in member countries of the Organization for Economic Co-operation and Development, or OECD, declined 1.2% to its lowest level since 1995, while oil consumption outside the OECD grew 2.8% in 2011, BP said.

"Despite strong oil prices, oil consumption growth was below average in producing regions of the Middle East and Africa due to regional unrest," the oil giant said.

China was the largest contributor to a rise in global oil demand growth in 2011, increasing its total oil demand by 505,000 barrels a day or 5.5% in 2011, although the growth rate was below its 10-year average, BP said. Meanwhile middle distillates were again the fastest-growing refined product category by volume, for the seventh time in the past 10 years, the oil major added.

On the production side, annual global oil output rose by 1.1 million barrels a day or 1.3% in 2011, largely due to net production growth from countries that make up OPEC. Saudi Arabia boosted output by 1.2 million barrels a day, while output from the United Arab Emirates, Kuwait and Iraq more than offset a 1.2 million barrels a day output drop in Libya.

Output reached record levels in Saudi Arabia, the United Arab Emirates and Qatar, BP said.

In non-OPEC countries, output was broadly flat, with increases in the U.S., Canada, Russia and Colombia offsetting continued declines in mature areas such as the U.K. and Norway, as well as unexpected outages in a number of other countries. The U.S. registered the largest increase among non-OPEC producers for the third consecutive year, driven by continued strong growth in onshore shale liquids output, which pushed U.S. oil output to its highest level since 1998, BP said.

Write to Alexis Flynn at alexis.flynn@dowjones.com

(END) Dow Jones Newswires

June 13, 2012 06:06 ET (10:06 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Mærsk: Spotrater på Asien-Europa fortsætter faldet

20-10-2017 16:04:59
Spotpriserne for containerfragt på de vigtige ruter mellem Asien og Europa faldt i denne uge med 0,7 pct. til 681 dollar per tyvefodscontainer (teu).Det skriver branchemediet Journal of Commerce, der henviser til data fra Shanghai Shipping Exchange.Spotprisen på verdens travleste handelsrute fortsætter derfor de negative tendenser, der også gjorde sig gældende i sidste uge, hvor spotpriserne faldt..

Novo: Fiasp godkendt i USA

29-09-2017 16:20:48
De amerikanske sundhedsmyndigheder, FDA, har godkendt Fiasp (hurtigtvirkende insulin aspart), en ny hurtigtvirkende måltidsinsulin, til behandling af voksne med diabetes.Det oplyser Novo Nordisk.FDA's beslutning kommer, efter at kliniske studier har dokumenteret, at Fiasp giver fordele for mennesker, der har behov for en forbedret generel blodsukkerregulering.- Vi er meget glade for, at Fiasp nu o..

Atlantic Petroleum: Direktør fratræder 1. december

29-09-2017 14:02:37
Topchefen for Atlantic Petroleum, der er noteret i Norge og København, direktør Ben Arabo, har opsagt sit job for at tiltræde et andet job på Færøerne.Det oplyser selskabet.Han vil dog blive hos Atlantic Petroleum til 1. december./ritzau/FINANSClaus Mikkelsen +45 33 30 03 35 Ritzau Finans, E-mail: finans@ritzau.dk , www.ritzaufinans.dk

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

BP PLC $0.25 491,89 0,0% Aktiekurs uændret
BP p.l.c. 38,80 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
22. oktober 2017 21:11:03
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20171020.1 - EUROWEB5 - 2017-10-22 21:11:03 - 2017-10-22 21:11:03 - 1 - Website: OKAY