World
Petroleumworld
Bookstore
Institutional
links
OPEC
Petroleumworld
Business Partners
THE FORUMBlogspots
recomended
Le Blog des
Energies Nouvelles
  |
|
IEA chief sees possible slide in global oil output
TOKYO
Petroleumworld.com, June 21, 2010Global oil output could slide by up to 900,000 barrels a day from projected levels for 2015 if oil producing countries follow the US lead and impose moratoriums on development of new offshore oil reserves, International Energy Agency executive director Nobuo Tanaka said Friday.
The Paris-based organisation is conducting research on the possible impact of the US moratorium and its implications worldwide, Tanaka said, Dow Jones Newswires reported.
"If other countries like Angola, Brazil and the North Sea (countries) put on hold new offshore development and there is also one or two years of delay, the impact on global oil output might be 800,000 barrels a day to 900,000 barrels a day by 2015," Tanaka told Dow Jones.
He was speaking in the western Japanese city of Fukui, where he will take part in a meeting of Asia Pacific Economic Cooperation group energy ministers this weekend.
Although the decline would represent about one percent of global oil output, "given that spare oil production capacity is about six million barrels a day, (a drop of) roughly one million barrels a day can't be ignored," he said.
Oil and gas companies began shutting down 33 deepwater exploration rigs last month after US President Barack Obama imposed a six-month moratorium on developing new deepwater wells in the Gulf of Mexico.
"There is little near-term impact. But for the medium term, if new offshore oil development in the US is delayed by one or two years, the impact (on production) would be 100,000 barrels a day to 300,000 barrels a day by 2015," Tanaka said.
"The ultimate impact is unclear. But it would take time to investigate the causes of the spill and develop appropriate safety requirements and procedures," he said.
At the three-day APEC meeting, ministers and government officials will discuss energy security, sustainable development of energy resources and the adoption of renewable sources, Dow Jones said.
Story from AFP
AFP 06/18/2010 15:02
Send this story to a friend
Copyright© 1999-2009 Petroleumworld or respective author or news agency. All rights reserved.
We welcome the use of Petroleumworld™ stories by anyone provided it mentions Petroleumworld.com as the source. Other stories you have to get authorization by its authors.Internet web links to http://www.petroleumworld.com are appreciated
Petroleumworld welcomes your feedback and comments,
share your thoughts on this article, your feedback is important to us!We invite all our readers to share with us
their views and comments about this article.Write to editor@petroleumworld.com
By using this link, you agree to allow PW
to publish your comments on our letters page.
Any question or suggestions, please write to: editor@petroleumworld.comBest Viewed with IE 5.01+
Windows NT 4.0, '95, '98,ME,XP, Vista, Windows 7+/ 800x600 pixels