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The Global Crude Oil Addiction
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The Global Crude Oil Addiction

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  • 1. Table Of Contents• Preface• Chapter 1 Major Factors Impacting The Global Crude OilAddiction• Chapter 2 Individual Country Analysis• Chapter 3 Major U.S. Exploration & ProductionCompanies• Statistical Tables• Conclusion• Sources• Additional Information• Author Description
  • 2. Chapter 1Major Factors Impacting TheGlobal Crude Oil Addiction• Global Crude OilConsumption• Mexico• WTI/Brent Comparisons • Great Britain• Components Of CrudeOil Consumption• Norway• Largest Oil ConsumingNations• Nations WhichSubsidize Crude Oil• OPEC • European Debt Crisis• Different Grades OfCrude Oil• PIIGS• Oil Depletion • Crude Oil Prices In2012• Technology Innovation • Hybrid/Electric Vehicles
  • 3. Chapter 2Individual Country Analysis• United States • Libya• Brazil • Iraq• Russia • Venezuela• India • Canada• China
  • 4. Chapter 3Major U.S. Exploration &Production Companies• Anadarko Petroleum • Devon Energy• Apache • ExxonMobil• Chevron • Occidental Petroleum• ConocoPhillips/Phillips 66
  • 5. Global Crude Oil Consumption
  • 6. Global Crude Oil Consumption• Global Crude Oil Demand Is Rapidly Approaching 90Million Barrels Per Day• Global Crude Oil Consumption Is Nearly 28 BillionBarrels Annually• From 2000 To 2011, Global Crude Oil Demand HasIncreased From Over 76 Million Barrels Per Day To Over87 Million Barrels Per Day• Voracious Vehicle Demand & Depleting ConventionalCrude Oil Supplies, Over The Last Decade, Were MajorFactors Driving Crude Oil Prices From $20 Per Barrel, In2000, To As High As $147 Per Barrel, In 2008
  • 7. Largest Oil Consuming Nations
  • 8. Largest Oil Consuming Nations• U.S. Consumed Over 18 Million BarrelsPer Day In 2011• China Consumed Slightly Less Than 9 MillionBarrels Per Day In 2011• Japan Consumed Over 4 Million Barrels PerDay In 2011• Countries Which Consumed Over 1 MillionBarrels Per Day In 2011 Include: Germany,France, India, South Korea, Spain, & Italy
  • 9. OPEC
  • 10. OPEC• 12 Members Of OPEC Supply Approximately 40Percent Of The World’s Conventional Crude Oil• Over The Next Five Years OPEC Plans ToInvest $312 Billion To Bring Forth New OilSupplies• In 2011 OPEC Earned An Astonishing $1.01Trillion From Its Net Crude Oil Exports, As BrentAveraged $111.28 In 2011
  • 11. Nations Which Subsidize CrudeOil
  • 12. Nations Which Subsidize CrudeOil• Venezuela’s Citizens Paid 8 Cents A Gallon ForGasoline In 2011 Due To Government Subsidies• Iran Changed Its Subsidies To Its Citizens In Late2010. Consumers In Iran Paid 36 Cents For GallonOf Gasoline In 2011. In 2010, Citizens In Iran Paid9 Cents A Gallon• Gasoline In Saudi Arabia Costs Between 40 CentsTo 44 Cents A Gallon• Saudi Arabia Must Become More Energy Efficient,And Due To Its Increasing Energy Consumption, ItsOil Exporting Capacity May Be Reduced Significantly
  • 13. Different Grades Of Crude Oil
  • 14. Different Grades Of Crude Oil• The American Petroleum Institute (API)Classifies Crude Oil By Their Respective APIGravities & Sulfur Content• API Gravity Measures Density Or Viscosity• Sweet Crude Oil Has A Lower Sulfur Content• Sour Crude Oil Has A Higher Sulfur Content• Light Oils Have API Gravities Higher Than 31.1Degrees, Medium Oil’s Have API’s Between22.3 Degrees & 31.1 Degrees, Heavy Oil’sContain API’s Below 22.3 Degrees
  • 15. Technology Innovation
  • 16. Technology Innovation• 3-D Seismic During The 1990’s RevolutionizedThe Quest For Finding New Quantities Of Oil &Natural Gas• Horizontal Drilling & Hydraulic Frackturing HaveEnabled The Energy Industry To Access NewResources In Low Permeability Rocks & ShaleFormations
  • 17. PIIGS
  • 18. PIIGS• Portugal’s Challenges Include: High Amounts OfPublic Debt, Low Competitiveness, & Low Growth• Ireland Has Suffered From The Collapse Of ItsConstruction & Housing Sectors• Italy Possesses A High Public Debt Burden, &Widespread Tax Evasion• Greece Has Received Two Bailout Packages, &Unemployment Is Over 24 Percent• Spain Is Still Reeling From The Collapse Of ItsProperty Market, Which Has Left Its Banks SaddledWith Bad Loans
  • 19. Hybrid/Electric Vehicles
  • 20. Hybrid/Electric Vehicles• Toyota Motors, Since 1997, Has Seen GlobalCumulative Sales Of Its Toyota Prius, Surpass4 Million Units• According To Bloomberg New Energy Finance,Nearly 43,000 Electric Vehicles Were SoldGlobally In 2011• Reducing The Battery Cost In Electric VehiclesIs The Major Challenge In Making ElectricVehicles More Competitive
  • 21. Can Natural Gas Be Used As AViable Alternative To Crude Oil?
  • 22. Can Natural Gas Be Used As AViable Alternative To Crude Oil?• The Trucking Industry In The U.S. Consumes 2.5 MillionBarrels A Day Of Diesel Fuel• Navistar & Westport Innovations Are AdvancingCompressed Natural Gas Vehicles, (CNG), To ReduceDiesel Consumption Within The Heavy Truck Industry• Natural Gas Is Expected To Grow The Fastest Over TheNext Several Decades, When Compared To Both Coal &Crude Oil• ExxonMobil Expects Natural Gas To Replace Coal, AsThe Leading Fuel For Generating Electricity In The U.S.,By 2025
  • 23. United States
  • 24. United States• 2011 Crude Oil Demand In The U.S. Totaled18.83 Million Barrels Per Day• The U.S. Consumes Over 6.5 Billion Barrels OfCrude Oil Annually• Canada, Mexico, Saudi Arabia, Nigeria, &Venezuela Exported The Most Crude Oil To TheU.S. In 2011• New CAFÉ Standards Were Finally Approved In TheU.S. In 2007 & 2010.• Since 1995, There Have Been More Than 24 MajorDiscoveries In The Gulf Of Mexico, Which Can UltimatelyRecover More Than 200 Million Barrels Of Crude Oil
  • 25. Brazil
  • 26. Brazil• In 2007 Brazil Has Made Several Very Large OilDiscoveries In Its Santos Basin• Brazil Is Expecting Its Total Crude Oil ProductionTo Double To 4 Million Barrels A Day, By 2020• Brazil’s Surging Middle Class Is Causing VehicleDemand To Surge• 2011 Total Vehicle Sales Amounted To 3.6Million Units
  • 27. Russia
  • 28. Russia• Russia Has A Total Resource Base Of Nearly1 Trillion Barrels Of Oil-Equivalent• Russia’s Four Major Offshore Regions Include:The Black Sea, Eastern Arctic, Far East, &Western Arctic• In June 2010, Russia’s Crude Oil Production,Surpassed 10 Million Barrels Per Day, A RecordFor Russia• Rosneft & ExxonMobil Signed A HistoricPartnership, In 2011, To Develop Russia’s VastEnergy Resources, & Plan To Spend Upwards Of$500 Billion Over The Next Several Decades
  • 29. India
  • 30. India• India’s Imports Over 3 Million Barrels Of Oil DailyWhich Accounts For 70 Percent Of Its DailyConsumption• From 2001 Through 2011, India’s Crude OilImports Have Doubled• Nearly 70 Percent Of India’s Oil Imports AreFrom The Middle East• 2011 Total Vehicle Sales In India Totaled 1.95Million Units
  • 31. China
  • 32. China• In 2009, China Overtook The U.S. As The LargestAutomobile Market Globally• China Added 18.5 Million Vehicles To Its Roads In2011• In 2010, China Overtook Japan As The SecondLargest Economy In The World• China Imports Nearly 5 Million Barrels Of Crude OilEach Day• China’s Major Energy Companies Have Been On ASpending Spree To Secure Crude Oil ReservesOverseas
  • 33. Libya
  • 34. Libya• Libya Is Africa’s Third Largest Oil ProducingNation After Nigeria & Angola• Libya Holds The Largest Crude Oil Reserves InAfrica• Libya Greatly Impacted Crude Oil Markets In2011, And Also Caused The Spread BetweenWTI & Brent To Widen Significantly• Libya’s Three Largest Oil Fields Include : TheWaha Oil Field, The Elephant Field, & The BouriField
  • 35. Iraq
  • 36. Iraq• Iraq Has Estimated Crude Oil Reserves Of 141Billion Barrels• Iraq Produces Over 3 Million Barrels Of CrudeOil In 2012• More Than 60 Percent Of Iraq’s Oil Production IsExported To India & China• Iraq Has A Very Aggressive Plan To DoubleCrude Oil Output by 2015• The Rumalia & West Qurna Oil Fields AreAmong Iraq’s Largest Oil Fields BeingDeveloped
  • 37. Venezuela
  • 38. Venezuela• The United States Geological Survey In 2009 IncreasedVenezuela’s Orinoco Recoverable Crude Oil ReservesTo 513 Billion Barrels• Venezuela Like Canada Is In The Process OfConstructing Massive Upgraders To Upgrade ItsMassive Quantities Of Ultra Heavy Oil Resources• Venezuela’s Largest Crude Oil Export Markets Are TheU.S. & China• Venezuela’s Orinoco Heavy Crude Oil Projects AreAnticipated To Start Producing In 2013, With TotalInvestment Of $80 Billion
  • 39. Canada
  • 40. Canada• Canada Is The Largest Exporter Of Crude Oil & NaturalGas To The U.S.• 97 Percent Of Canada’s Oil Reserves Are Comprised OfBitumen Resources• Alberta & Saskatchewan Are The Two Largest OilProducing Provinces In Canada• Canada Is Proposing Several Pipelines To Be Built ToIts Western Coast Which Include: The Northern GatewayPipeline & TransMountain Pipeline• The Oil Sands Leadership Initiative Was Formed ToImprove The Environmental, Social, & EconomicPerformance Of Canada’s Vast Oil Sands
  • 41. Major U.S. Exploration &Production Companies
  • 42. • Core Operating Regions Include:• Anadarko Produced 680,000 Barrels Of Oil-Equivalent In2011• Capital Expenditures Totaled $6.5 Billion In 2011• Revenues In 2011 Totaled $13.9 Billion•• U.S. Onshore • West Africa• Gulf Of Mexico • Algeria• Alaska • East Africa• Brazil • Canada
  • 43. • Core Operating Regions Include:• Apache Produced 748,000 Barrels Of Oil-Equivalent In2011• Capital Expenditures Totaled $11.7 Billion In 2011• Revenue Totaled $16.8 Billion In 2011• Net Income Totaled $4.5 Billion In 2011• Argentina • Egypt• Australia • Great Britain• Canada • United States
  • 44. • Chevron Operates In More Than 100 CountriesGlobally• Total Resource Base Of Nearly 60 Billion Barrels OfOil-Equivalent• Returns On Capital Employed Totaled 21.6% In2011• Chevron Recorded Its Highest Net Income In 2011Which Totaled $26.8 Billion• Chevron Produced 2.67 Million Barrels OfOil-Equivalent In 2011
  • 45. •& Phillips 66• ConocoPhillips Produced 1.61 Million Barrels OfOil-Equivalent In 2011• Net Income Totaled $12.4 Billion In 2011• ConocoPhillips Has Reduced Its Total RefiningCapacity By 400,000 BPD, Since 2009, To 2.2Million Barrels Per Day• Acquired 400,000 Acres In Wyoming’s NiobraraRegion & Canada’s Dubernay Region In 2011
  • 46. •In 2011• Revenue Totaled $11.4 Billion In 2011• Net Income Totaled $4.7 Billion In 2011• Total Net Acreage In Both Canada & The U.S.Exceeds 6 Million Acres• Devon Owns Substantial Acreage In The BarnettShale, Permian Basin, & The Haynesville Shale• Devon Acquired Substantial Acreage In 5 Tight OilRegions, In 2011, Including: Wyoming’s NiobraraShale & Michigan’s Utica ShaleDevon Produced 657,000 Barrels Of Oil-Equivalent
  • 47. • ExxonMobil Is The Largest Publicly Traded Oil CompanyIn The World• 2011 Net Income Totaled $41.06 Billion, With TotalRevenues Of $486 Billion• ExxonMobil Has A Total Resource Base GloballyTotaling 87 Billion Barrels Of Oil-Equivalent• ExxonMobil Produced 4.5 Million Barrels OfOil-Equivalent In 2011• 2011 Returns On Capital Employed Totaled 24.2%• ExxonMobil Plans To Spend $185 Billion On Its CapitalProgram Over The Next 5 Years
  • 48. • Occidental Petroleum Operates In 3 CoreRegions Which Include: The U.S., MiddleEast/North Africa, & Latin America• Occidental Petroleum Produced 733,000BarrelsOf Oil-Equivalent In 2011• 2011 Net Income Totaled $6.7 Billion, OnRevenues Totaling $23.9 Billion• 2011 Capital Expenditures Totaled $7.5 Billion
  • 49. Sources