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Op-Ed Contributor - ‘Peak Oil’ Is a Wa…
9/4/2009 Op-Ed Contributor - ‘Peak Oil’ Is a Wa… August 25, 2009 OP-ED CONT RIBUT OR ‘Peak Oil’ Is a Waste of Energy By MICHAEL LYNCH Amherst, Mass. REMEMBER “peak oil”? It’s the theory that geological scarcity will at some point make it impossible for global petroleum production to avoid falling, heralding the end of the oil age and, potentially, economic catastrophe. Well, just when we thought that the collapse in oil prices since last summer had put an end to such talk, along comes Fatih Birol, the top economist at the International Energy Agency, to insist that we’ll reach the peak moment in 10 years, a decade sooner than most previous predictions (although a few ardent pessimists believe the moment of no return has already come and gone). Like many Malthusian beliefs, peak oil theory has been promoted by a motivated group of scientists and laymen who base their conclusions on poor analyses of data and misinterpretations of technical material. But because the news media and prominent figures like James Schlesinger, a former secretary of energy, and the oilman T. Boone Pickens have taken peak oil seriously, the public is understandably alarmed. A careful examination of the facts shows that most arguments about peak oil are based on anecdotal information, vague references and ignorance of how the oil industry goes about finding fields and extracting petroleum. And this has been demonstrated over and over again: the founder of the Association for the Study of Peak Oil first claimed in 1989 that the peak had already been reached, and Mr. -
Saudi Aramco Overview
Saudi Aramco Overview Saudi Aramco’s oil operations encompass the Kingdom of Saudi Arabia, including territorial waters in the Arabian Gulf and the Red Sea. Totalling more than 1.5 million square kilometres, this area is larger than the combined areas of Texas, California, Oklahoma and Utah, or of France, Spain and Germany. Most production comes from fields in the coastal plains of the Eastern Province in an area extending 300 kilometres north and south of Dhahran. Saudi Arabia Reserves of conventional crude oil in company-managed fields total about 260.1 billion barrels. In 2009, Saudi Aramco completed a multi-year, Saudi Aramco Benefits multiple mega-project program and raised its maximum sustainable crude oil production capacity to 12 million barrels per day. Basic Provisions of the Annual Vacation Plan Saudi Aramco has a multinational workforce consisting of 54,000 Personal Effects Shipment employees from over 50 nations, ensuring exposure to experienced professionals from around the world. Saudi Aramco Compensation Saudi Aramco Communities Saudi Aramco is headquartered in Dhahran, in Saudi Arabia’s Eastern province. BAYSIDE PERSONNEL | Engineering & Construction Recruitment www.baysidepersonnel.com.au Climate Saudi Aramco Temperature Benefits Classified as having a hot desert climate (Köppen: BWh), temperatures during the summer months are Saudi Aramco provides a highly extremely hot, approaching 50°C competitive benefits package for (122 °F) occasionally. The average international employees working in high temperature in July is 44°C Saudi Arabia on the global payroll. (111 °F). Winters are warm with cold, These include: windy nights. Monthly Benefits The overall climate is arid, and the Supplement city experiences very little rainfall, This is an monthly cash payment especially in summer, but receives a provided to finance individual fair amount of rain in March and April. -
FULLTEXT01.Pdf
http://uu.diva-portal.org This is an author produced version of a paper published in Natural Resources Research. This paper has been peer-reviewed but does not include the final publisher proof-corrections or journal pagination. Citation for the published paper: Höök, M., Söderbergh, B., Jakobsson, K. & Aleklett, K. ”The evolution of giant oil field production behaviour” Natural Resources Research, 2009, Vol. 18, Issue 1: 39-56 URL: http://dx.doi.org/10.1007/s11053-009-9087-z Access to the published version may require subscription. Published in Natural Resources Research Volume 18, Number 1, March 2009, Pages 39-56 http://www.springerlink.com/content/142004322x2885nk/ The evolution of giant oil field production behaviour Mikael Höök*, Bengt Söderbergh*, Kristofer Jakobsson*, Kjell Aleklett* Contact e-mail: [email protected] * Uppsala University, Global Energy Systems, Department of physics and astronomy, Box 535, SE-751 21, Uppsala, Sweden http://www.fysast.uu.se/ges Abstract The giant oil fields of the world are only a small fraction of the total number of fields, but their importance is huge. Over 50% of the world oil production came from giants by 2005 and more than haft of the worlds ultimate reserves are found in giants. Based on this it is reasonable to assume that the future development of the giant oil fields will have a significant impact on the world oil supply. In order to better understand the giant fields and their future behaviour one must first understand their history. This study has used a comprehensive database on giant oil fields in order to determine their typical parameters, such as the average decline rate and life-times of giants. -
Saudi Aramco Annual Report 2020 Has Certain Borrowings Where the Reference Rate Is Linked to LIBOR
ResilienceResilience andand agilityagility SaudiAnnual Aramco Report Annual 2020 Report 2020 Resilience and agility Aramco’s exceptional past belongs to its future. Our people define our success. Energy has been running in our DNA for generations. We are proud of what we accomplished during 2020. Once again, our resilience shone through. We delivered on our shareholder commitments. And we continued to deliver an uninterrupted supply of energy to the world. Our resilience and agility has built one of the world’s largest integrated energy and chemicals companies. And we are part of the global effort toward building a low carbon economy. Our horizon has never been clearer. This Annual Report covers financial and operational aspects of Aramco from January 1, 2020 to December 31, 2020, and is issued in both Arabic and English. The print version is identical to its PDF counterpart, which is available at aramco.com. The Arabic version prevails in the event of any discrepancy. The images in this document are representative of the services provided by Aramco. Some photos may have been taken prior to the COVID-19 pandemic. Wherever possible, sustainable printing techniques were used. 01 Contents Aramco Risk Chairman’s message ...................................06 Risk management........................................ 92 President and CEO’s foreword ...................08 Risk factors ...................................................94 History .......................................................... 10 1 2020 highlights ........................................... -
Saudi Government Concludes Purchase of Aramco Professional
11/15/2016 1980s 1980s 1980 Saudi government concludes purchase of Aramco The government increases its participation interest in Aramco's crude oil concession rights, production and facilities to 100%, with retroactive financial effect to 1976. Professional Development Program (PDP) established In its first year, the Professional Development Program (PDP) enrolls 400 employees. The program initially enrolls some expatriates but soon shifts its focus to encompass only Saudis. Enrollment in the program fluctuates throughout the decade, peaking at 910 in 1987. The Aramco communities grow quickly in the early 1980s. 1981 Data processing begins at EXPEC Computer Center Data processing begins at the EXPEC (Exploration and Petroleum Engineering Center) Computer Center, one of the world's largest geoscience computing facilities. Scholarships for women We provide the first scholarships to female employees to study at overseas universities. AlHasa Farm begins operations The company's 300acre alHasa Demonstration Farm cultivates 15 new varieties of vegetables and becomes home to new fish and agriculture farming projects. The Exploration and Petroleum Engineering Center is the first facility of its kind in the Middle East. 1982 EastWest Pipelines completed Two pipelines are completed, linking oil production facilities in the Eastern Province with Yanbu' on the west coast. One line transports natural gas liquids (NGL) from Shedgum and the other delivers crude oil from Abqaiq. The two pipelines are the most advanced computermonitored hydrocarbons pipelines ever built. http://www.saudiaramco.com/en/home/about/history/1980s.html 1/4 11/15/2016 1980s Company halts production at Well No. 7 The discovery well, Dammam No. -
Saudi Aramco by the Numbers
making a difference Annual Review 2010 Table of contents Introduction ......................................................................... 10 Exploration ........................................................................... 18 Oil Operations ..................................................................... 22 Gas Operations .................................................................. 28 Refining & Petrochemicals .......................................... 34 Table of Research & Technology ................................................. 40 Transportation & Distribution ..................................... 48 contents Human Resources ............................................................ 54 Safety & Health ................................................................. 62 Communities ....................................................................... 68 Corporate Citizenship ...................................................... 72 Awards ................................................................................... 84 Saudi Aramco by the Numbers ................................ 88 A Saudi Aramco engineer checks pressure on a propane-transfer pump at a company gas plant. Making a difference Saudi Saudi Aramco Aramco Annual Review Annual Review 2010 2010 2 1 Saudi Saudi Aramco Aramco Annual Review The Custodian of the Two Holy Mosques HIS ROYAL HIGHNESS AMIR SULTAN Annual Review 2010 2010 2 King ‘Abd AllAH IBN ‘Abd Al-’Aziz Al SA’ud IBN ‘ABD AL-’AZIZ AL SA’UD 3 The Crown Prince, Deputy Prime Minister, -
Preparing a Young Saudi Workforce
July 17, 2019 vol. LXXIV, No. 28 a weekly Saudi Aramco publication for employees preparing a young Saudi workforce setting a course for Saudi Aramco is working in partnership with the National Maritime success with iktva KPIs Academy to boost the skill levels of graduates, equip them with market Saudi Aramco has shown strong progress in its goal reading competency, and provide them jobs in the marine and port of localizing 70% of its service and procurement operations sector. see page 5 spending by 2021. Still, it remains critical that company organizations monitor and report their spending decisions if we are to make good on the promise to help generate new jobs and boost the diversification of the Kingdom’s economy. see page 5 a major step forward at SPARK King Salman Energy Park’s first major investment see page 3 Aramcon is Kingdom’s When Fred Clark heard of OPEC basket Saudi Aramco the recent Kitesurfing Festival five-week price trend 2019 top kitesurfer being conducted as part of by the numbers the Jiddah Season, he wanted to 66.02 65.33 explore a potential new site to surf and 63.87 62.90 meet new people. He had no idea $ 61.87 he might take top honors from a field of more than 50 fellow kitesurfers. new local290 manufacturers have been added to Saudi Aramco’s supply chain since the introduction of the In- see back page Kingdom Total Value Add localization June 14 June 21 June 28 July 5 July 12 program. July 17, 2019 the arabian sun 2 company news supporting localization and boosting business new signings strive to increase number of pre-qualified contractors GES contracts are in-Kingdom long form contracts established by Saudi Aramco’s Project Management in 2011 to support localization, bolster in-Kingdom engineering capabilities to undertake more complex projects, and provide services to all engineering and project execution organizations across the company, as well as non-Saudi Aramco organizations, for their engineering and project management business needs. -
Vision 2030: Creating Strategic Partnership with Japan Japan Stands Ready to Help Saudi Arabia Implement Its Aramco, While Telecoms Giant Softbank Group Corp
121st year | no. 42,289 ISSN 0289-1956 © THE JAPAN TIMES, LTD., 2017 SAUDI ARABIA FRIDAY, SEPTEMBER 22, 2017 Vision 2030: Creating strategic partnership with Japan Japan stands ready to help Saudi Arabia implement its Aramco, while telecoms giant SoftBank Group Corp. launched a huge technology investment wide-ranging Vision 2030 plan and to reduce the country’s fund in conjunction with the kingdom’s Public Investment Fund (PIF). dependence on oil. Designed to target “meaningful, long-term investments in companies and foundational plat- Japan and Saudi Arabia have a 62-year history of form businesses that seek to enable the next age strong diplomatic, trade and business relations, of innovation,” according to SoftBank, the fund but the signing of the comprehensive investment raised $93 billion in its fi rst major closing in May. and socioeconomic development blueprint Saudi- That impressive sum of capital commitments Japan Vision 2030, in March, signals a new excit- for funding delights Okuda, who feels PIF and ing period as the two countries align to accelerate SoftBank’s Vision Fund sends a very positive sig- economic development in the kingdom. nal to Japanese companies to build links with the Connections between the continental pow- kingdom. erhouses are at an all-time high. Saudi Arabia “Saudi Arabia is a special country, with huge is Japan’s main investment destination in the fi nancial potential,” he says, adding, “In the short IMAGE: Cabinet Public Relations O of Japan) (of the Government ce O Cabinet Public Relations IMAGE: Middle East, accounting for around 70 percent term, it has challenges to overcome, but in the of its investments in the region; bilateral trade medium and long-term, there are tremendous between the two reached a record $56 billion in opportunities for Japanese enterprises. -
Saudi Arabia Reference Projects for Oil & Gas Applications
NEWSLETTER JULY 2012 Saudi Arabia: Remarkable reference projects for oil and gas applications! Since 2010, Ceramic Polymer’s high-performance coating is approved for ”Saudi-Aramco-Standards”! More than 20% of the global crude oil is located under Saudi sand. The state-owned enterprise ”Saudi Aramco” is the biggest oil production company worldwide. Beside further 100 oil and gas fields, ”Saudi Aramco” owns with the ”Ghawar oil field” the largest oil reservoir and holds therefore the largest proven oil reserves of 260 billion barrels. By several subsidiary companies, amongst others the major tanker fleet and various joint ventures in oil and gas industry, ”Saudi Aramco” is the most profitable and valuable corporate group at present times. Coating products have to provide outstanding properties to meet the APCS-Criteria (Aramco Protective Coating System) and get accepted for ”Saudi Aramco” application. Our product CK-54 SF-APCS-2i was tested extensively by research laboratories of ”Saudi Aramco” and was approved for application in accordance with their demanding requirements of the standards APCS-2i, APCS-117 and APCS -28. Specific aspects for the achieved approval were e. g. the excellent chemical resistance at high operating temperatures up to 150°C and the extremely pressure resistance, which was proven by autoclave-tests with explosive decom- Condensate stripper pressions. Qatif – Gas and Oil separation plant #2 More than 300 tanks were already coated with CK-54 SF-APCS-2i! Some of our reference projects in Saudi Arabia: End user Date -
Saudi Aramco: National Flagship with Global Responsibilities
THE JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY SAUDI ARAMCO: NATIONAL FLAGSHIP WITH GLOBAL RESPONSIBILITIES BY AMY MYERS JAFFE JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY JAREER ELASS JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY PREPARED IN CONJUNCTION WITH AN ENERGY STUDY SPONSORED BY THE JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY AND JAPAN PETROLEUM ENERGY CENTER RICE UNIVERSITY – MARCH 2007 THIS PAPER WAS WRITTEN BY A RESEARCHER (OR RESEARCHERS) WHO PARTICIPATED IN THE JOINT BAKER INSTITUTE/JAPAN PETROLEUM ENERGY CENTER POLICY REPORT, THE CHANGING ROLE OF NATIONAL OIL COMPANIES IN INTERNATIONAL ENERGY MARKETS. WHEREVER FEASIBLE, THIS PAPER HAS BEEN REVIEWED BY OUTSIDE EXPERTS BEFORE RELEASE. HOWEVER, THE RESEARCH AND THE VIEWS EXPRESSED WITHIN ARE THOSE OF THE INDIVIDUAL RESEARCHER(S) AND DO NOT NECESSARILY REPRESENT THE VIEWS OF THE JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY NOR THOSE OF THE JAPAN PETROLEUM ENERGY CENTER. © 2007 BY THE JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY OF RICE UNIVERSITY THIS MATERIAL MAY BE QUOTED OR REPRODUCED WITHOUT PRIOR PERMISSION, PROVIDED APPROPRIATE CREDIT IS GIVEN TO THE AUTHOR AND THE JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY ABOUT THE POLICY REPORT THE CHANGING ROLE OF NATIONAL OIL COMPANIES IN INTERNATIONAL ENERGY MARKETS Of world proven oil reserves of 1,148 billion barrels, approximately 77% of these resources are under the control of national oil companies (NOCs) with no equity participation by foreign, international oil companies. The Western international oil companies now control less than 10% of the world’s oil and gas resource base. -
Facts & Figures 2013
Facts & Figures 2013 2013 Facts & Figures :: 1 :: Energy Is Opportunity :: Saudi Aramco Our business portfolio is being reshaped to meet evolving requirements in our upstream and downstream activities as well as across the Kingdom as a whole. ENERGY IS OPPORTUNITY—IN THE KINGDOM AND AROUND THE GLOBE. Contents 02 WHO WE ARE 08 EXPLORING NEW OPPORTUNITIES :: Energy Is Opportunity :: Saudi Aramco 07 OUR STRATEGY 10 EXPANDING OUR PORTFOLIO 12 RAISING OUR POTENTIAL 14 CITIZENSHIP 16 2013 IN NUMBERS 21 OUR OUTLOOK ABOUT THIS BOOKLET COVER PHOTO OVER THE LAST 80 YEARS, SAUDI ARAMCO HAS This booklet is a statistical compendium of our 2013 Annual Review and includes GROWN TO BECOME A FULLY INTEGRATED, GLOBAL oil and gas reserves and production figures for year-end 2013 as well as other PETROLEUM AND CHEMICALS ENTERPRISE. valuable figures, and a brief summary of key developments. 2 :: Energy Is Opportunity :: Saudi Aramco 2013 Facts & Figures :: 3 Who We Are What We Do The Saudi Arabian Oil Company (Saudi Aramco), Turaif Over the last 80 years, we have grown to become 494 million barrels of refined products and a fully integrated, global the world’s largest integrated energy enterprise. exported 121 million barrels, nearly matching petroleum and chemicals Saudi Aramco manages conventional crude oil our record numbers from 2012. We exported Al Jawf reserves of 260.2 billion barrels and gas reserves 2.5 billion barrels of crude oil in 2013, with 53.8 enterprise, is the state- Tanajib of 288.4 trillion standard cubic feet. percent exported to Asia. owned oil company of the Tabuk Safaniya Jubail Khursaniyah In 2013, we produced 3.4 billion barrels of As a vertically integrated company, we Kingdom of Saudi Arabia. -
Infrastructure Sector: Overview and Commercial Prospects in Saudi Arabian and U.S
2017 INDUSTRY SECTOR REPORT Infrastructure Sector: Overview and Commercial Prospects in Saudi Arabian and U.S. Construction, Real Estate, and Transport www.us-sabc.org Disclaimer The information that is published in this report was analyzed and compiled from sources believed to be accurate and reliable during the time of publication. The U.S.-Saudi Arabian Business Council accepts no liability for any loss or damage resulting from errors or omissions due to human or mechanical error in any part of this report. The U.S.-Saudi Arabian Business Council provides all information without any warranty. © 2017 The U.S.-Saudi Arabian Business Council. All rights reserved. Neither this publication nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the U.S.-Saudi Arabian Business Council. Reports are published quarterly by the U.S.-Saudi Arabian Business Council, 8081 Wolftrap Road, Suite 300, Vienna, VA 22182. 2 U.S.-Saudi Arabian Business Council Table of Contents 4 Executive Summary SAUDI ARABIAN MARKET 6 Trends in Contracts 7 Growing Value of Infrastructure 8 Government Infrastructure Goals and Financing 9 Infrastructure Objectives through Vision 2030 and the NTP 10 Government Bodies Involved in the Infrastructure Sector 11 Private Sector Initiatives 12 Oil Revenues and Government Projects 14 Financing 15 Regional Trends in Contracts Awarded 16 Domestic and Foreign Firms Involved in Saudi Arabian Infrastructure 20 Macroeconomic Trends 22 Housing Market 24 Transportation 27 Tourism Construction 29 Building Automation 29 Construction Supply Chain for Raw Materials 31 Labor 33 Real Estate 36 Infrastructure Projects in Energy 39 Industrial Infrastructure Projects 40 Special Projects 41 SME’s 41 Restarting Stalled Projects 42 Construction of Social Facilities 42 Commercial Construction U.S.