The following report from Reuters indicates Russia was able to increase oil production after a period in October after a period of apparently unsought reduction in oil output.  Russian October oil output highest in year Mon Nov 3, 2008 7:31am EST MOSCOW, Nov 3 (Reuters) - Russian oil production in October rose to its highest in 2008, to 9.86 million barrels per day (bpd), data supplied by Russia’s Energy Ministry showed on Monday. Oil exports from Russia via pipeline monopoly Transneft TRNF_p.RTS stood at 4.21 million bpd, slightly up …

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We can add Indonesia to the list of major oil fields in rapid decline.  The list is headed by Mexico’s giant Cantarell field and by the North Sea.  Apparently political mismanagement is a factor in Indonesia’s inability to attract foreign capital and expertise to try to find new reserves.
Indonesia warns oil output to finish in 10 years’ time
JAKARTA: Indonesia’s oil watchdog, BPMIGAS, warned on Friday that the country’s dwindling oil reserves could be exhausted in 10 years’ time if no new reserves are found.
Indonesia has struggled to develop its rich …

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I strongly recommend the following report from the 7/30/08 Financial Times in its entirety to serious oil supply students, but I will offer the following summarizing comment: According to the CEO of Schlumberger, a serious shortage of personnel trained to operate sophisticated oil drilling equipment, caused by two decades of low oil prices, will severely limit the ability of the industry to expand oil production.  It takes ten years to turn out a fully trained deep ocean drilling technician, apparently. A key element of the problem is that …

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The Financial Times provides the following interesting insight into how big complex oil projects are being delayed.   Champions of Thunder Horse have little to cheer By Sheila McNulty Published: July 4 2008 20:42 | Last updated: July 4 2008 20:42 When BP produced the first oil from Thunder Horse, its flagship project in the Gulf of Mexico, the company threw a barbecue. The Thunder Horse platform was supposed to begin producing in January 2005, but was delayed three years by a string of engineering problems. However, in spite …

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Here is a link to the original post shown below: CEO of NOC says Libya’s oil production will reach around 3 million barrels by 2012 2008-5-26   2008-05-26 Libya’s oil production will top around 3 million barrels a day by 2012 according to Chairman of the Steering Committee of the National Oil Corporation Dr. Shukri Ghanem, who said production, is expected to reach 2 million by the end of this year. “The Jamahiriya is producing 3 billion Cubic meters of gas daily which is seeking to double by …

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The following report from Middle East Online indicates Kuwait may open new areas to international oil companies for exploration and development in an effort to boost oil output from 2.5 mb/d to 4 mb/d by 2020.  In addition, refining capacity would increase by about 500,000 per day.  Here it is:

Kuwait to upgrade vital energy sector

Gulf state of Kuwait plans to spend 51 billion dollars over next five years on oil development.

By Omar Hasan - KUWAIT CITY

The Gulf state of Kuwait plans to spend 51 billion dollars over the next five …

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Figure 1 - World Liquids Fuel Production January 2002 - November 2007

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click here.

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