Showing posts with label Global. Show all posts
Showing posts with label Global. Show all posts

Thursday, June 27, 2013

EIA report: North American growth helps boost global oil production to record levels


This animated map shows how world crude oil and lease condensate production, measured in millions of bbl/day, has changed since 1980 in key oil-producing regions. Growth in North American crude oil production and recovery in African and Asian markets contributed to a record global production of 75.6 million barrels bbl/day in 2012, according to an agency brief.  Source: US Energy Information AdministrationBy Katie Mazerov, contributing editor

The Middle East still ranked as the world’s No. 1 crude oil producer in 2012, but growth in North American crude oil production and recovery in African and Asian markets, specifically China, contributed to a record global production of 75.6 million bbl/day, according to a brief released on 17 June by the US Energy Information Administration (EIA). Eclipsing the Middle East, it was the strength of the North American, African and Asian markets that drove an overall 2% increase over 2011 levels in global crude oil production, including lease condensate, the brief stated.

In 2012, the Middle East produced 24.1 million bbl/day of crude oil, a basically flat number over 2011 production. Gains in several Middle Eastern nations were offset by declines in Syria and Qatar. Sanctions also contributed to a 17% decline in Iranian production.

This EIA chart shows how crude oil and condensate production has changed year on year since 2007. This EIA chart shows how crude oil and condensate production has changed year on year since 2007.

The EIA report synthesized recent figures with historical data on regional production trends between 1980 and 2010, EIA analyst Stacy MacIntyre, who compiled the statistics, explained. The data came from the agency’s International Energy Statistics database, with additional trend information compiled from EIA country analysis briefs or other energy briefs published by the EIA, she said.

The former Soviet Union ranked second in global production, with 12.7 million bbl/day, followed by North America, Africa, Asia and Oceania, Central and South America and Europe. Russia, the world’s second-largest crude oil and lease condensate producer, has seen production gains since 2009 due to development of eastern Siberian oilfields, use of advanced technologies and improved recovery techniques in mature fields in western Siberia, and development of a new export infrastructure, the report stated.

In North America, average annual production rose to 12.2 million bbl/day, a reflection of increasing production in unconventional oil plays in the US and rising bitumen and synthetic crude oil production in the Canadian oil sands. North American production had dropped to 10.4 million bbl/day in 2008.

Trends in other global markets reported by the EIA include:

Africa: Recovery of Libyan production was the main driver behind a 6% increase in African production in 2012, to 9.1 million bbl/day. New production in some non-OPEC countries, such as Ghana, also has boosted oil production in the region since 2010. Ms MacIntyre also cited Niger, a landlocked nation in West Africa, as having gone from zero production in 2010 to 20,000 bbl/day in 2012.Asia and Oceania: A 2% decline in oil production in most of the region in 2011 has not recovered, with production remaining at 7.6 million bbl/day. Offsetting that, China, the region’s largest producer, saw production rise after the Peng Lai field in the Bohai Bay was brought back online. It is China’s largest offshore crude oilfield and had been shut down following a spill in 2011. “China’s production declined 0.5% 2011 and grew 1.7% in 2012,” Ms MacIntyre said. “China accounts for 57% of Asia’s production and 54% of Asia & Oceania combined.” Prior to shut-in, production rates at Penglai 19-3 had peaked at roughly 130,000 bbl/day, according to an EIA Country Analysis Brief for China, revised in April.Central and South America: Market contractions throughout the region, notably Brazil and Argentina, contributed to a 1% decline in 2012, following an increase of 3% in 2011. Production in 2012 was 6.6 million bbl/day.Europe: Continued declining production in the North Sea is the primary reason for a downward trend in Europe. Production declines averaged 9% in both 2011 and 2012, in part due to unplanned outages in the UK and a 12% tax rate increase implemented in 2011 by the British government.

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Sunday, April 15, 2012

Baker Hughes to Present at Bank of America Merrill Lynch 2011 Global Energy Conference

HOUSTON, Nov. 11, 2011 /PRNewswire/ -- Baker Hughes (NYSE: BHI) announced today that Andy O'Donnell, Vice President and President, Western Hemisphere Operations, will present at the Bank of America Merrill Lynch 2011 Global Energy Conference in Miami, Florida, on November 15, 2011, at 2:50 p.m. Eastern time.  

If you would like to listen to the presentation during the conference, please log on to the following website:  http://investor.shareholder.com/bhi/events.cfm. If you would like to listen to a replay, it will be available within 24 hours of the live presentation and will remain available through November 29, 2011. Use the same website address above to access the replay.

Forward-Looking Statements

The presentation referenced in this news release and any oral statements made in connection with the presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934 as amended. Additional information and risk factors are contained in our Form 10-K for the fiscal year ended December 31, 2010 and other filings with the SEC about the risks and uncertainties that could cause actual results to be different than those in our presentation.  The company's SEC filings can be viewed at www.bakerhughes.com. The company assumes no responsibility to update any of the information referenced in this news release.

Baker Hughes provides reservoir consulting, drilling, formation evaluation, completions, pressure pumping and production products and services to the worldwide oil and gas industry.

SOURCE Baker Hughes


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Saturday, April 14, 2012

New Baker Hughes Research and Technology Center in Brazil Demonstrates Next Phase in Network of Global Technology Solutions

HOUSTON, TEXAS – Oct. 7, 2011 – Baker Hughes (NYSE: BHI) announced today the opening of a new research and technology center in Rio de Janeiro designed to enable the development of technologies and solutions to unlock the full potential of deep water and pre-salt reservoirs.

“Baker Hughes’ new research facility on the Federal University of Rio de Janeiro will open up a new level of collaboration with our customers and Latin American universities. Together we will build a new generation of highly specialized wellbore construction tools and services to economically produce the pre-salt reservoirs in offshore Brazil,” said Andy O’Donnell, president of the Western Hemisphere for Baker Hughes. “The new Baker Hughes Rio Research and Technology Center in Brazil represents the next phase in the expansion of our global technology network and strengthens our capability to provide local solutions.”

The Brazil center is one of 10 major research and technology facilities globally situated in the U.S., U.K., Russia, Germany and Saudi Arabia. The centers focus on providing solutions to oil and gas challenges specifically related to applications engineering and geosciences. In addition, the facilities enable Baker Hughes to provide support for field testing of new products and regional customization of existing commercial products.

By the end of 2012, the Rio Research and Technology center is expected to create 45 new jobs and the company will continue to add to its workforce by recruiting regional scientists and engineers and other professionals to the center as new projects are initiated.

Baker Hughes is already partnering with the Federal University of Rio de Janeiro and Petrobras to consult on the design, construction and operation of a full-scale laboratory drilling simulator located near the university. Baker Hughes will reproduce field-drilling conditions in a controlled environment so that the drilling process can be monitored, characterized and improved.

Amended on Nov. 8, 2011 to reflect Baker Hughes’ Rio Research and Technology Center in Brazil is located on the Federal University of Rio de Janeiro.

# # #

Baker Hughes provides reservoir consulting, drilling, formation evaluation, completions, pressure pumping and production products and services to the worldwide oil and gas industry.


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Friday, April 13, 2012

Baker Hughes to Present at the 2005 UBS Global Oil & Gas Conference

HOUSTON, May 23 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated(NYSE: BHI) announced today that James R. (Rod) Clark, Baker Hughes' presidentand chief operating officer, will present at the 2005 UBS Global Oil & GasConference in Austin, Texas on Wednesday, May 25, 2005 at 11:20 a.m., centraltime.

If you would like to listen to Mr. Clark's presentation during theconference, please log on to the following website:http://www.bakerhughes.com/investor/resources/presentations.htm . If youwould like to listen to a replay of the presentation, it will be availablethree hours after the live broadcast and available through June 26, 2005. Usethe same website address above to access the replay.

Forward-Looking Statements

The presentation referenced in this news release and any oral statementsmade in connection with the presentation may contain forward-lookingstatements within the meaning of Section 27A of the Securities Act of 1933, asamended, and Section 21E of the Securities and Exchange Act of 1934 asamended. Additional information and risk factors are contained in our Form10-K for the fiscal year ended December 31, 2004 and other filings with theSEC about the risks and uncertainties that could cause actual results to bedifferent than those in our presentation. The company's SEC filings can beviewed at http://www.bakerhughes.com . The company assumes no responsibilityto update any of the information referenced in this news release.

Baker Hughes is a leading provider of drilling, formation evaluation,completion and production products and services to the worldwide oil and gasindustry.

NOT INTENDED FOR BENEFICIAL HOLDERS

Contacts:
Gary R. Flaharty (713) 439-8039
H. Gene Shiels (713) 439-8822

SOURCE Baker Hughes Incorporated


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Wednesday, April 11, 2012

Baker Hughes to Present at UBS 2006 Global Oil & Gas Conference

HOUSTON, May 18 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated(NYSE: BHI; EBS) announced today that Chad C. Deaton, Baker Hughes' chairmanand chief executive officer, and Peter Ragauss, senior vice president andchief financial officer, will present at the UBS Global Oil & Gas Conferencein Austin, Texas on Tuesday, May 23, 2006 at 7:30 a.m., central time.

A copy of Mr. Deaton's presentation will be available within 24 hours ofthe presentation athttp://www.bakerhughes.com/investor/resources/presentations.htm .

If you would like to listen to Mr. Deaton's presentation during theconference, please log on to the following website:http://www.bakerhughes.com/investor/resources/presentations.htm . If youwould like to listen to a replay of the presentation, it will be availablewithin 24 hours of the live presentation and will remain available throughJune 6, 2006. Use the same website address above to access the replay.

Forward-Looking Statements

The presentation referenced in this news release and any oral statementsmade in connection with the presentation may contain forward-lookingstatements within the meaning of Section 27A of the Securities Act of 1933, asamended, and Section 21E of the Securities and Exchange Act of 1934 asamended. Additional information and risk factors are contained in our Form10-K for the fiscal year ended December 31, 2005 and other filings with theSEC about the risks and uncertainties that could cause actual results to bedifferent than those in our presentation. The company's SEC filings can beviewed at http://www.bakerhughes.com . The company assumes no responsibilityto update any of the information referenced in this news release.

Baker Hughes is a leading provider of drilling, formation evaluation,completion and production products and services to the worldwide oil and gasindustry.

NOT INTENDED FOR BENEFICIAL HOLDERS

Contacts:
Gary R. Flaharty (713) 439-8039
H. Gene Shiels (713) 439-8822

SOURCE: Baker Hughes Incorporated

CONTACT: Gary R. Flaharty, +1-713-439-8039, or H. Gene Shiels,
+1-713-439-8822, both of Baker Hughes Incorporated
Web site: http://www.bakerhughes.com
http://www.bakerhughes.com/investor/resources/presentations.htm


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Friday, March 23, 2012

Baker Hughes to Present at the Goldman Sachs Global Energy Conference 2007

HOUSTON, Jan. 2 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated(NYSE: BHI) announced today that Matt Pye, vice president - businessdevelopment, North America, will be a panelist at the Goldman Sachs GlobalEnergy Conference 2007 in New York, NY, on Wednesday, January 17, 2007 at11:00 a.m. eastern time. This event will not be Webcast nor is a formalpresentation available.


Forward-Looking Statements


The presentation referenced in this news release and any oral statementsmade in connection with the presentation may contain forward-lookingstatements within the meaning of Section 27A of the Securities Act of 1933, asamended, and Section 21E of the Securities and Exchange Act of 1934 asamended. Additional information and risk factors are contained in our Form10-K for the fiscal year ended December 31, 2005 and other filings with theSEC about the risks and uncertainties that could cause actual results to bedifferent than those in our presentation. The company's SEC filings can beviewed at http://www.bakerhughes.com . The company assumes no responsibilityto update any of the information referenced in this news release.


Baker Hughes is a leading provider of drilling, formation evaluation,completion and production products and services to the worldwide oil and gasindustry.


NOT INTENDED FOR BENEFICIAL HOLDERS


Contacts:
Gary R. Flaharty (713) 439-8039
H. Gene Shiels (713) 439-8822


SOURCE: Baker Hughes Incorporated


CONTACT: Gary R. Flaharty, +1-713-439-8039, or H. Gene Shiels,


+1-713-439-8822, both of Baker Hughes Incorporated
Web site: http://www.bakerhughes.com


View the original article here

Thursday, March 22, 2012

Baker Hughes to Present at Bank of America Merrill Lynch Global Energy Conference

HOUSTON, Nov. 5, 2010 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that Peter Ragauss, Senior Vice President and Chief Financial Officer, will present at Bank of America Merrill Lynch Global Energy Conference in Miami, FL, on November 11, 2010, at 9:45 a.m. Eastern time.  


If you would like to listen to the presentation during the conference, please log on to the following website:  http://investor.shareholder.com/bhi/events.cfm.


Forward-Looking Statements


The presentation referenced in this news release and any oral statements made in connection with the presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934 as amended. Additional information and risk factors are contained in our Form 10-K for the fiscal year ended December 31, 2009 and other filings with the SEC about the risks and uncertainties that could cause actual results to be different than those in our presentation.  The company's SEC filings can be viewed at www.bakerhughes.com. The company assumes no responsibility to update any of the information referenced in this news release.


Baker Hughes is a leading provider of drilling, pressure pumping, formation evaluation, completion and production products and services to the worldwide oil and gas industry.


Gary R. Flaharty, +1.713.439.8039, gflaharty@bakerhughes.com


SOURCE Baker Hughes Incorporated


View the original article here