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US EIA reminder: Strait of Hormuz world’s most important oil chokepoint; almost 20% of oil traded worldwide

Green Car Congress

Flows through the Strait in 2011 were roughly 35 percent of all seaborne traded oil, or almost 20 percent of oil traded worldwide. ”. They are a critical part of global energy security due to the high volume of oil traded through their narrow straits. million bbl/d was crude oil. million bbl/d in 2009-2010. —US EIA.

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What Does The Next OPEC Meeting Have In Store?

Green Car Congress

The 2 June 2016 OPEC meeting will be held amid a backdrop of oil prices near $50 per barrel, a sharp drop in Nigerian production due to sabotage, turmoil in Venezuela, Saudi Arabia operating with a new oil minister, and Iran aggressively pumping close to pre-sanction levels. million barrels per day (bpd).

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$97.07

Plugs and Cars

Attack on pipeline in Yemen. Domestic oil inventory to fall. Oil platforms evacuated. Severe weather shuts Mexican ports, disrupts oil supply to US. Tags: petroleum oil price per barrel. As the price per barrel goes beyond $97, one story in the NY Times reports : •Bombing in Afghanistan kills 64.

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INPEX and Total launch the $34B Ichthys offshore Australia LNG Project; entire 8.5 Mt/y LNG output already sold for 15 years

Green Car Congress

Ichthys will develop approximately 3 billion barrels oil equivalent of reserves, including around 500 million barrels of condensate. In delivering this important project into production we will be securing vital long-term energy supply to Japan.Ichthys production volumes represent more than 10% of Japan’s LNG imports at current.

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