The Politics of International Oil
Gov 365P/MES 322K: Class 4
Introducing the Major Players: Producers and
Consumers
- Organization of Petroleum Producing Countries
(OPEC)
- Russia - 6.3% of world proven reserves (R/P=22
years), 12.4% of wld production but down from over 11 mbd in late
1980s to 9.9m in 2008, of which 2.8m consumed at home.
- United States - 2.4% of proven reserves, 7.8%
of wld production but down from over 11 mbd in 1970 to 6.7m in
2008. Consumption=19.4m so Imports = (19.4-6.7)/19.4 =65.5%.
Where
from?
- Norway - produces 2.5 mbd (but only 7.5
billion proven reserves, to run out in 8 years)
- UK - 1.5 mbd (3.4bb reserves, 6 yrs left!) -
and consumes 1.7 mbd
- Kazakhstan - more proven reserves than USA but producing only 1.55
mbd in 2008 (so R/P = 70 yrs).
- China - 3.8 mbd - about half USA reserves and production.
Consumption = 8 mbd (was 4.2mbd in 1998 so g=6.7% and E(2020) =
15.2 mbd - or maybe
as little as 11.3
- Brazil - Produced 1.9 mbd in 2008 and will become a net
exporter.
- Angola - 1.8 mbd - when will it join Nigeria to become a candidate for the Extractive
Industries Transparency Initiative
(EITI)? - with the 2009
progress report
- Just a quick PS on Iran, member of OPEC, big producer (growing consumer too, so
that production minus consumption = 4.049 - 1.659 = 2.4 mbd net
exports. A liberal newspaper was banned because of a cartoon
interpreted as insulting President Ahmadinejad (viewed as a
black
donkey with halo)
- Japan, like China very heavily dependent
on the Middle East
- Russia : poor Mikhail Khodorkovsky (ex CEO Yukos)
- Germany : imports mainly from Russia, Norway, and UK
- India
- France
- Italy
- UK
- Spain
- ExxonMobil - but then I had to google to get their annual
report 2007, even harder to find
annual
report 2008 - via tiger
links site.
- Royal Dutch Shell
- BP
- Saudi
Aramco
-
Main page
Sept. 8, 2009
- Department
of Government, University of
Texas at Austin.
Questions, Comments, and Suggestions to
chenry@mail.utexas.edu
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