SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Rat's Nest - Chronicles of Collapse
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Wharf Rat who wrote (4274)6/9/2006 4:01:57 PM
From: Wharf Rat  Read Replies (1) of 24207
 
News comes to us, via ASPO, that Venezuela is buying oil from Russia. No mind you, they are not buying it in order to meet domestic demand, they are buying about 100,000 barrels a day from Russia in order to meet contractual obligations. In other words, they had contracted to deliver about 100,000 barrels per day more than they could deliver. That means their fields are being depleted a bit faster than they had expected.

All that heavy oil, or more accurately "tar", does not appear to be helping them very much. I don't think any of it is being turned into regular crude and sold to refineries. Some of it is being mixed with water and sold for boiler fuel however. I wonder how long it would take them to gear up to convert any of it to regular crude and how many barrels per day could they produce by say.... 2020.

Venezuela peaked in 1970 at just over 3,700,000 barrels per day and are currently producing about 2,540.000 barrels per day, crude and condensate only.

the ASPO article can be found at: peakoil.ie
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News