List Ur Domain 4 Sale List Ur Softwares 4 Download Advertise Ur Site

Industry News

Oil Industry News

Oil production slips but gas fires up
Saturday, 06, March 2010


AUSTRALIA'S crude oil production has hit its lowest in 40 years as oilfields start reaching maturity, according to a leading industry report card.Energy economics group Energy Quest said production fell 17 per cent last year, from 120.6 million barrels to 99.5 million barrels.Graeme Bethune, chief executive of Energy Quest, said while levels had not been as low since 1970, production should be higher this year because of new projects.''The recent start-up of BHP Billiton's Pyrenees oilfield and Apache's Van Gogh field - both situated off Western Australia's north-west coast - will provide a boost in the short term,'' he said. '

'However, the long-term trend is for production to keep falling.''Last year's lucrative liquefied natural gas export deals from Western Australia's North-West Shelf propelled total gas production in Australia by 10.1 per cent to a record 1897 petajoules.''Australian LNG exports grew strongly in 2009, even though demand in Asia, Australia's major market, was down 7 per cent,'' Dr Bethune said.''Australia gained market share at the expense of suppliers from the Atlantic Basin such as Algeria, Egypt and Nigeria.''
Web Links | Add Directory | Indusrty News | Blogs | Free Packs | Download Softwares
Top Directories | Top Search Engines | Domains for Sale | Meta & Robots Info | SEO Tips
©2008 E-Links.mobi | Term of Use | Privacy | About | Contact
All Trademarks and Servicemarks are the properties of the site owner.