Petroleum Economics Istvan Csato Department of Geological Sciences University of South Carolina January 2002 Source: EIA.

Slides:

Advertisements

Similar presentations

Advertisements

Miscellaneous – Regions, Locations and Places Part IV.

Changing Patterns Of Oil Production And Consumption IB SL.

INSURING PROJECT CARGO What is it about? Infrastructure Projects Worldwide Oversized Cargoes High Insured Values Complex Logistics Requirements Projects.

WHERE DO WE GET OUR ENERGY? 1OIL COAL 3 NATURAL GAS 4 NUCLEAR 5 WATER 6 WOOD.

Energy diplomacy: definitions

Geology and Geography of Oil

Middle East OIL. What is OIL used for? Aspirin Aspirin Balloons Balloons Bandages Bandages Cameras Cameras Candles Candles Compact Discs Compact Discs.

OPEC Organization of Petroleum Exporting Countries- Information for Standard SS7E6c.

OPEC Founded in Baghdad, Iraq in 1960 Current members: Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Indonesia, Libya, UAE, Algeria, Nigeria OPEC.

Oil Reserves Gas Reserves Oil Production Oil Imports Oil Exports Oil Consumption Saudi Arabia21.58%4.08%11.85%-16.28%3.49% Iraq9.28%2.00%3.36%-5.23%0.67%

Major Oil Regions of Today. Major Oil and Gas Regions: Alaska North Slope.

Oil Consumption Oil, Gasoline, Consumption, Prices.

1 R ICE U NIVERSITY Sustaining Energy and Mobility in the 21 st Century: Challenges and Opportunities for the U.S. Amy Myers Jaffe Wallace S. Wilson Fellow.

Economic Summit Recent decline in oil prices March 6, 2015 Reza Varjavand Associate Professor of Economics GSM, Saint Xavier University.

Brazil The UK Argentina USA Which country is this? Countries of the World.

Clip Question – Explain the phrase “Oil makes the world go ‘round.”

THE OUTLOOK FOR OIL AND GAS Presentation To OKLAHOMA INDEPENDENT PETROLEUM ASSOCIATION June 11, 2007.

 OPEC – a cartel of countries that join together to make decisions regarding the supply of oil in the world market  GDP – the dollar market value of.

How OPEC Controls the Price of Oil A Lesson in SUPPLY, DEMAND, and PRICE.

Africa in the new oil geopolitics

Environmental Science: Toward a Sustainable Future Richard T. Wright Energy from Fossil Fuels PPT by Clark E. Adams Chapter 12.

How Much Oil is Left? By, Chase Carter By, Chase Carter.

AIM: How has the importance of petroleum played a role in the recent history of the Middle East? Do Now: Gas prices have nearly doubled since It.

Knowledge Connections Definition Picture Term Vocabulary 

Rank Country Production 1 Saudi Arabia 10,665 2 Russia 9,677 3 United States 8,330 4 Iran 4,148 5 China 3,845 6 Mexico 3,707 7 Canada.

 Today oil supplies about 40% of the world’s energy and 96% of its transportation energy.  Since the shift to oil, the world has consumed over 875 billion.

The Organization of the Petroleum Exporting Countries.

How important is Venezuela in the Geopolitics of Energy

2. Question of the Day. (TURN OBJECTIVE INTO A QUESTION)

Regional importance of Latin America? Mexico, Canada, Saudi Arabia, Nigeria and Venezuela provide 75% of U.S. crude oil imports. Angola, Iraq, Ecuador.

ECONOMICS OF OIL March 3, 2015.

Oil in the Middle East.

Organization of the Petroleum Exporting Countries

Oil and OPEC. Another name for oil is petroleum Oil is a non-renewable resource = a natural resource that is not replaceable after it is removed.

7. With whom did Middle Eastern countries align during the cold War? 8. The Iran Iraq War took place between what years? 9. The invasion of what country.

THE MIDDLE EAST The Importance of Oil & OPEC. An Important Question What do you feel is the United States ’ interest in the Middle East? a. oil b. protection.

International Business Sean Redding, Luke Young. World Trade Organization (WTO) Organization for liberalizing trade. Governments use the WTO to sort out.

Organization of the Petroleum Exporting Countries Chad Geurink February 14, 2007 Model UN.

OPEC Founded in 1960 by 5 major oil producers (Iran, Iraq, Kuwait, Saudi Arabia and Venezuela) as a cartel to safeguard its members interests individually.

OPEC. Think about … in all the world, which country do you think consumes the MOST oil?

OPEC Organization of Petroleum Exporting Countries Founded 1960 by 5 member nations 1.Iran, Iraq, Kuwait, Saudi Arabia, Venezuela 2.HQ = Vienna, Austria.

China’s Interest in Africa China as Savior, or China as Exploiter? David Pietz, Washington State University.

OPEC. Think about … in all the world, which country do you think consumes the MOST oil?

U.S. Energy Information Administration Independent Statistics & Analysis International Energy Outlook 2013 for Center for Strategic and International.

More Developed Countries Australia Canada France Germany Israel Italy Japan Norway Russia South Korea Spain Sweden Taiwan United Kingdom United States.

Monday February  Drill: What are 3 things that use oil?  HW: Review Sheet due Feb 11  Obj: Evaluate the importance of oil to the Middle East.

Chapter 8 Energy and Civilization: Patterns of Consumption Energy and Civilization: Patterns of Consumption.

Oil!. Oil What is oil? How is it formed? When scientists learned how to use oil for energy many countries with oil, such as Saudi Arabia, suddenly had.

The Middle East and North Africa. The countries in the region are linked together by: Climate- Much of the region consists of deserts and arid land.

Oil in the Persian Gulf Tyler Brittain

1 GLOBAL FINANCIAL IMBALANCES Towards a new Bretton Woods? Rachel Lomax Deputy Governor, Bank of England Chatham House Conference, 24 January 2006.

How Oil and Water Affect The Middle East

Petroleum sector in Turkey Petroleum Engineering 2017

Oil, gas prices, and conflict in the middle east

The World Market.

OIL A Natural Resource.

What nations produce the largest amount of oil?

Petroleum Economics Istvan Csato Department of Geological Sciences

Trading Blocs (Free-trade associations)

OIL, OPEC, & THE MIDDLE EAST

Oil In the Middle East Today oil supplies about 40% of the world’s energy and 96% of its transportation energy. Since the shift to oil, the world has consumed.

Washington, September 24, 2018 USAEE Conference

OPEC Organization of Petroleum Exporting Countries

The Organization of the Petroleum Exporting Countries

The Importance of Oil & OPEC

Presentation transcript:

Petroleum Economics Istvan Csato Department of Geological Sciences University of South Carolina January 2002 Source: EIA

World Oil Demand Declines: Oil embargo, 1973 Revolution in Iran, 1979 Economic crisis in Asia and FSU, Oil Consumption

World Oil Demand Increments in Oil Consumption by Region Largest increase: Asia

World Oil Demand Oil Consumption per Capita by Region Declines: Industrialized countries: oil price crises EE/FSU: collapse of communism Developing countries: no decline

World Oil Demand Oil Intensity by Region Continuous decline

World Oil Demand Oil Consumption by Sector Industrialized countries: Transportation Developing countries: Other uses Main area of growth:

World Oil Demand Oil Consumption in the Developing World China: 6.1 MBD South Korea: 1.2 MBD India: 3.9 MBD Middle East: 5.3 MBD Africa: 2.9 MBD Central and South America: 4.7 MBD Expected Increase from 1999 to 2020:

World Oil Demand Oil Consumption in the Industrialized World Expected Increase from 1999 to 2020: USA: 6.3 MBD Mexico: 2.2 MBD Canada: 0.3 MBD Western Europe: 1.5 MBD Japan: 0.35 MBD

World Oil Demand Oil Consumption in EE/FSU Expected Increase from 1999 to 2020: FSU: 4.1 MBD Eastern Europe: 0.2 MBD

World Oil Supply

More than 2/3 of increase in oil demand will be supplied by OPEC World Oil Production by Region

World Oil Supply Projected growth rate: 3.4% per year OPEC Oil Production

World Oil Supply OPEC and Non-OPEC production

World Oil Supply Non-OPEC production by Region, 2020

World Oil Supply Top World Oil Producers, 2000 CountryProduction Estimates (million bbl/d) 1)Saudi Arabia9.12 2)United States9.08 (5.83 of which was crude oil) 3)Russia6.71 4)Iran3.81 5)Mexico3.48 6)Norway3.32 7)China3.25 8)Venezuela3.14 9)United Kingdom )Canada )Iraq )United Arab Emirates )Kuwait )Nigeria )Indonesia )Brazil )Libya )Algeria1.43 Red: OPEC member Blue: Non-OPEC member

World Oil Supply Top World Oil Net Exporters, 2000 CountryNet Exports (million bbl/d) 1)Saudi Arabia )Russia )Norway )Venezuela )Iran )United Arab Emirates )Iraq )Kuwait )Nigeria )Mexico )Libya )Algeria )United Kingdom 1.06 Red: OPEC member Blue: Non-OPEC member

World Oil Supply 814 B bbl Total: 1030 B bbl

World Oil Trade