International News

expectations of oil production

Canada confirmed the reports that says United States will become the largest oil producer in the world by the end of the decade should prepare a warning paints a dramatically need for Canada to diversify its oil exports.

Canadian Natural Resources Minister Joe Oliver said that 98% of Canada›s exports of oil and 100% of its exports of gasoline is heading to the United States.

He said he expected that the United States reduces its dependence on oil and gasoline from Canada, and then it is important to urgently build pipelines Pacific Coast to strengthen Canada to export to Asia.

Noteworthy that the International Energy Agency has reported that the United States will become the largest producer of oil on the outskirts of 2020 with detection techniques to find more resources.

Chinese Ministry of Land and Resources expected a high rise in the production of oil and gas by 2030 due to the significant increase in the resources available geological in the north-eastern region of China.

oil production to 250 million tons in 2030

The director of geological explorations in the ministry in a statement data reporters that oil production is expected to exceed 250 million tons on an annual basis in 2030 with the prospect of the arrival of gas production to 45 billion cubic meters.

He explained that the oil resources Geological northeastern regions of China reached 5.22 billion tons at the end of 2011 with the arrival of resources recoverable to 2.7 billion tons, up 7.5 billion tons and 3.1 billion tons respectively for the year 2007.

World Bank: Nigerias 41 years

World Bank predicted depletion of Nigerian oil within 41 years and Angola during 21 years.

The Bank›s report on the economic situation in the African continent that Nigeria - the largest oil producer in the African continent - will stop production after depletion of its oil during 41 years and Angola - the second largest oil producer in the continent - would stop production after 21 years from now.

The report added that the adoption of these two countries on the reserve continue in the near term and medium pointing out that oil production in some newly discovered country such as Ghana and Uganda will not last long

It is noteworthy that Nigeria is the largest oil resulted in the African continent which is also one of the core members in the Organization of Petroleum Exporting Countries (OPEC), where now produces more than 2.5 million barrels a day, according to U.S. officials.

Malaysia discovers new oil well

Malaysian Prime Minister Nageeb Abd Al-Razzak announced that he found additional oil reserves in the region of «Bertam» in the Malaysian state of Pahang.

Abd Al-Razzak told a news conference after presided over a meeting of the Executive Board of biotechnology companies PETRONAS and LUNDIN OIL with private limited exploration has located an oil well 160 km off the coast of Peninsular Malaysia at a depth of 76 meters.

He added that depending on the outcome of the study are still alive enforcement technical and economic volume of oil production is expected to reach between 17,500 and 20,000 barrels per day during the third quarter of 2014.

Abd Al-Razzek explained that Bertam oil region may contain 64 million barrels of oil thanks to this new discovery.