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Iran cuts off oil supplies to French, British companies

 
See1234
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User ID: 10919270
United Kingdom
02/19/2012 07:48 AM
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Iran cuts off oil supplies to French, British companies
[link to twitter.com]

news alert, woohoo
FyreStorm

User ID: 2198090
United States
02/19/2012 07:50 AM
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Re: Iran cuts off oil supplies to French, British companies
Now, this starts to get interesting
Mindless Baseball Entertainment
[link to www.cheaprooftoptickets.com]

If you need any web work done
[link to www.intelligentdynamicsllc.com]
Anonymous Coward
User ID: 10330563
Italy
02/19/2012 07:52 AM
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Re: Iran cuts off oil supplies to French, British companies
popcorn

Don't shit the fan is close poop
Anonymous Coward
User ID: 11029056
United Kingdom
02/19/2012 07:53 AM
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Re: Iran cuts off oil supplies to French, British companies
ok, that's it. nuke the fuckers
Anonymous Coward
User ID: 4748705
Netherlands
02/19/2012 07:55 AM
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Re: Iran cuts off oil supplies to French, British companies
Read on a thread yesterday. Libya can compensate 69% of the
loss of Iran oil supply, another reason why Libya was bombed.
Anonymous Coward
User ID: 11029056
United Kingdom
02/19/2012 07:56 AM
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Re: Iran cuts off oil supplies to French, British companies
Read on a thread yesterday. Libya can compensate 69% of the
loss of Iran oil supply, another reason why Libya was bombed.
 Quoting: Anonymous Coward 4748705


they must want to take Iran out SO badly.
Anonymous Coward
User ID: 8597527
United States
02/19/2012 07:57 AM
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Re: Iran cuts off oil supplies to French, British companies
bsflag
Dave
User ID: 1577793
United Kingdom
02/19/2012 07:58 AM
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Re: Iran cuts off oil supplies to French, British companies
ok, that's it. nuke the fuckers
 Quoting: Anonymous Coward 11029056


WOW you are a dead beat
Anonymous Coward
User ID: 11078701
Germany
02/19/2012 08:03 AM
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Re: Iran cuts off oil supplies to French, British companies
like they said last week and then denied it?
Anonymous Coward
User ID: 10330563
Italy
02/19/2012 08:09 AM
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Re: Iran cuts off oil supplies to French, British companies
hitting other msm's tho seems real this time
See1234 (OP)

User ID: 10919270
United Kingdom
02/19/2012 08:11 AM
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Re: Iran cuts off oil supplies to French, British companies
hitting other msm's tho seems real this time
 Quoting: Anonymous Coward 10330563


yes it is on reuters
oldboldpilot

User ID: 1349914
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02/19/2012 08:11 AM
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Re: Iran cuts off oil supplies to French, British companies
bsflag
 Quoting: Anonymous Coward 8597527


TRUE

[link to www.bbc.co.uk]
"Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth.” ~Marcus Aurelius
Anonymous Coward
User ID: 10575706
Canada
02/19/2012 08:12 AM
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Re: Iran cuts off oil supplies to French, British companies
shut up with the bs flag... don't you know how to google?!?

[link to rt.com]
Anonymous Coward
User ID: 11079097
Ireland
02/19/2012 08:14 AM
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Re: Iran cuts off oil supplies to French, British companies
These bullshit flag bandits crack me up. It's even on Sky news now.
Blackhawkie

User ID: 1565932
United States
02/19/2012 08:15 AM

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Re: Iran cuts off oil supplies to French, British companies
Shit starting to get real
You ever see Ranger Batman in his batman costume, very dapper. Do you like 3 siren alerts? --Hawk-02
Anonymous Coward
User ID: 10852391
United Kingdom
02/19/2012 08:16 AM
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Re: Iran cuts off oil supplies to French, British companies
i wish we weren't ruled by Zionists
Anonymous Coward
User ID: 11029056
United Kingdom
02/19/2012 08:17 AM
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Re: Iran cuts off oil supplies to French, British companies
ok, that's it. nuke the fuckers
 Quoting: Anonymous Coward 11029056


WOW you are a dead beat
 Quoting: Dave 1577793


nuke you as well.
Anonymous Coward
User ID: 11029056
United Kingdom
02/19/2012 08:17 AM
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Re: Iran cuts off oil supplies to French, British companies
i wish we weren't ruled by Zionists
 Quoting: Anonymous Coward 10852391


lol
Anonymous Coward
User ID: 11029056
United Kingdom
02/19/2012 08:18 AM
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Re: Iran cuts off oil supplies to French, British companies
another excuse to rape us with petrol/diesel prices.

sick of this shit now. time to get it sorted, one way or the other. we can't keep on like this.
Anonymous Coward
User ID: 8597527
United States
02/19/2012 08:21 AM
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Re: Iran cuts off oil supplies to French, British companies
bsflag
 Quoting: Anonymous Coward 8597527


TRUE

[link to www.bbc.co.uk]
 Quoting: oldboldpilot


BBC is a reliable source?

cruisecruisecruise
Blackhawkie

User ID: 1565932
United States
02/19/2012 08:23 AM

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Re: Iran cuts off oil supplies to French, British companies
[link to twitter.com (secure)]
You ever see Ranger Batman in his batman costume, very dapper. Do you like 3 siren alerts? --Hawk-02
Anonymous Coward
User ID: 11079097
Ireland
02/19/2012 08:24 AM
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Re: Iran cuts off oil supplies to French, British companies
bsflag
 Quoting: Anonymous Coward 8597527


TRUE

[link to www.bbc.co.uk]
 Quoting: oldboldpilot


BBC is a reliable source?

cruisecruisecruise
 Quoting: Anonymous Coward 8597527


Hey mastermind, that was the point of his sarcastic post. But its on Sky now, and Reuters - can't diss Reuters.
Anonymous Coward
User ID: 1201183
United Kingdom
02/19/2012 08:26 AM
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Re: Iran cuts off oil supplies to French, British companies
I shouldn't worry about it, its an insignificant amount of oil and by products, we can easily source from other sources.
Anonymous Coward
User ID: 11029056
United Kingdom
02/19/2012 08:27 AM
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Re: Iran cuts off oil supplies to French, British companies
so, when is this getting pinned then?

it will be just like GLP for an unpinned thread to be the one that gets us!
Anonymous Coward
User ID: 11082279
United States
02/19/2012 08:29 AM
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Re: Iran cuts off oil supplies to French, British companies
ok, that's it. nuke the fuckers
 Quoting: Anonymous Coward 11029056


Why? They're just giving you what you wanted.

The Brits wanted Iran to stop selling oil, so the Iranians stopped selling oil.

And you're STILL crying.

There's just no pleasing some people.
Anonymous Coward
User ID: 10555199
Australia
02/19/2012 08:29 AM
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Re: Iran cuts off oil supplies to French, British companies
I hate to tell you but the sanctions already in place prevent anyone buying oil from Iran....
Anonymous Coward
User ID: 11082279
United States
02/19/2012 08:29 AM
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Re: Iran cuts off oil supplies to French, British companies
i wish we weren't ruled by Zionists
 Quoting: Anonymous Coward 10852391


lol
 Quoting: Anonymous Coward 11029056


I do too.
Anonymous Coward
User ID: 11084381
Brazil
02/19/2012 08:30 AM
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Re: Iran cuts off oil supplies to French, British companies
Will the Minister deny it again, just like the last time?
See1234 (OP)

User ID: 10919270
United Kingdom
02/19/2012 08:32 AM
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Re: Iran cuts off oil supplies to French, British companies
Will the Minister deny it again, just like the last time?
 Quoting: Anonymous Coward 11084381


The move was confirmed by the country’s Oil Ministry, with the spokesman saying that Iran will be “selling its oil to new customers”.

[link to rt.com]
Anonymous Coward
User ID: 11029056
United Kingdom
02/19/2012 08:32 AM
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Re: Iran cuts off oil supplies to French, British companies
i wish we weren't ruled by Zionists
 Quoting: Anonymous Coward 10852391


lol
 Quoting: Anonymous Coward 11029056


I do too.
 Quoting: Anonymous Coward 11082279


and i'll giggle it again. lol
Anonymous Coward
User ID: 1201183
United Kingdom
02/19/2012 08:33 AM
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Re: Iran cuts off oil supplies to French, British companies
[link to www.seec.surrey.ac.uk]

"the UK ranks high in the global league of oil and gas producers. In 2004, production from the UK Continental shelf (UKCS) accounted for more oil and gas than Venezuela, Nigeria, Indonesia or Kuwait (Crawford, 2006); producing 1.3bnbbl of oil and gas in total, sufficient to provide over 80 percent of the nation’s total energy needs (Oil & Gas UK, 2006). The UK remains a major non-OPEC oil producer. In 2006, it had 4.0 billion barrels (bnbbl) of proven crude oil reserves, by far the largest of any EU member country (EIA, 2007). In the same year (2006), oil production reached 588 million bbl, providing respectively 96 percent of the nation’s oil and gas consumption.

The UK has been a net exporter of crude oil since 1981. Its largest export destinations in 2004 were the United States (28 percent), and other European countries (52 percent), chiefly the Netherlands, Germany and France (EIA, 2007).

Actual oil production in the UK sector peaked in 1999 at 2.9 million bbl/d, and has been declining since. The two main reasons given for this decline are, firstly, the overall maturity of the UKCS oil fields and, secondly, the declining size of fields, both in terms of new discoveries and developments.

Additionally, increasing unit extraction costs, in what is acknowledged to be one of the highest cost basins in the world, are damaging project economics and basin competitiveness. A shift of basin production to more remote and inhospitable areas of the UKCS is also a factor. Crude oil exports have followed a similar path to production, although they initially levelled off between 1999 and 2000 before slowly declining. Crude oil imports have risen steadily to narrow substantially the gap with exports although the UK still just remains a net exporter of crude (DTI, 2005).

In terms of natural gas, the UK is the fourth-largest producer of natural gas in the world. But in 2004, the country became a net importer of natural gas for the first time since 1996. In 2006, gas production reached 85 billion cubic meters (bcm) providing 92 percent of the nation’s gas needs (Oil & Gas UK, 2006).

Since 1975, the UKCS has undergone major changes. One fact that clearly emerges is the decline in the average size of fields during the 1990s, compared with the early development of the North Sea. Discoveries now average at 20-30 million barrels of oil equivalent (mmboe). This is 50 to 100 times smaller than the fields on which the North Sea was built (Oil & Gas UK, 2006).
A minority of fields account for the majority of aggregate reserves. The largest five fields account for 37 percent, the largest 10 for 52 percent and the largest 20 for 71 percent of the total reserves (Watkins, 2000). However, 29 of the UK major UK fields peaked prior to 1994 (DTI, 2005). By 2000, they had total oil production declines of more than 50 percent from their maximum production levels (Blanchard, 2000).

To counteract the rapid decline of mature fields, new but smaller fields are being brought on- line at an increasing rate. From 1985 to 2006, the number of producing fields on the UKCS has increased three-fold. Although it took 25 years for the first 100 fields to be brought on- line it took only six years to bring the second 100 fields on-line (Blanchard, 2000). As might
Can the North Sea Still Save Europe? Page 8 of 25 be expected, however, the fields found during subsequent periods have become progressively smaller, with an average discovery size of 25 to 30 mmbbl of oil equivalent. That is modest compared to the larger UK fields, like Forties and Brent, with an average size above 2,400mmboe (Sem and Ellerman, 1997). Furthermore, many of the new smaller fields have lifetimes of 10 years or less. In an extreme example, Dauntless field was brought on-line in August 1997 and was terminated in April 1999 (Blanchard, 2000).

In a survey carried out by Nakhle (2005), 40 percent of respondents agreed that despite the maturity of the UKCS, the UK North Sea era has not ended yet. Similarly, according to a study carried out by UKOOA and WoodMackenzie in 2004, there are still substantial opportunities to be accessed if the UK remains internationally competitive and can sustain current investment.

If successful the UK could still be producing the equivalent of 65 percent of its total oil requirements in 2020 and delay decommissioning by 10-15 years, making a major contribution to the UK’s security of energy supply. In stark contrast, if the UK becomes less attractive to new investment, then the UKCS will only provide the equivalent of 15 percent of total UK oil demand by 2020 (Oil & Gas UK, 2006). Consequently, the UKCS can either face a rapid decline, hence exposing the UK to an increasing dependence on oil imports, or production can be sustained for a longer period of time, hence extending the benefits to various stakeholders.

The same scenarios apply to gas. The UK will remain a significant producer of gas for years to come. According to Oil & Gas UK (2006), current production plans are only expected to deliver about 10 percent of UK gas demand in 2020, but, with sustained investment, UKCS production could still meet around 25 percent of such demand1.

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