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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: captaintime who wrote (5621)	3/16/2007 3:16:16 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 24225

ODAC: UK was net oil importer in 2006 Uchenna Izundu, Oil & Gas Journal The UK became a net importer of oil for most of 2006, according to the Oil Depletion Analysis Centre (ODAC) in Aberdeen. "It is time for the UK government to let go of the idea that the UK will be a net oil exporter until 2010 and accept we are now dependent on imports," ODAC said. Data published by the UK Department for Trade and Industry showed that the UK imported oil during every month in 2006 except for June. DTI forecasts that the UK will export oil for a few months during 2007 and see a decline in domestic oil production. From 2008, the International Energy Agency and the US Energy Information Administration expect the UK to be a net oil importer. .. A spokeswoman for the UK Offshore Operators' Association said the difference in oil imports and indigenous production in 2006 was small. "Last year's dip can be attributed to lower-than-expected North Sea production, owing in part to delays in new fields coming on stream, reservoir performance, and maintenance programs. Global constraints on resources, including equipment and personnel, also had an impact on activity levels in the UK.".. (13 Mar 2007) ODAC comments: The UK Offshore Operators' Association seem to be changing their tune. Until as recently as the end of last year they were adamant the UK would be a net oil exporter until 2010. Indeed, their Economic report 2006 states (p13): “The UK has been self-sufficient in oil for the last 25 years and is expected to remain so for the next 4 or 5 years, if current new developments proceed as planned.” What is really odd about this statement is that the UK had been a net oil importer for 5 months (Jan – May) when this report was released in July! In the following article UKOOA forecast the UK to be a net oil exporter to 2008, although they avoid using such an early date by saying “the UK will become a net importer of oil from 2009 onwards”: Both the IEA and EIA think it will be touch and go whether or not the UK will be a net exporter this year, and no chance for next. It would be useful if UKOOA could release a list of the oil fields they expect to counteract the 150,000 – 250,000 b/d that will be lost to depletion next year. energybulletin.net