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Iran cuts off oil supplies to French, British companies

 
Anonymous Coward
User ID: 11082279
United States
02/19/2012 08:34 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]
 Quoting: See1234


So what are you crying about, exactly.

You didn't want that filthy Muslim oil anyway, right?
Anonymous Coward
User ID: 10330563
Italy
02/19/2012 08:35 AM
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Re: Iran cuts off oil supplies to French, British companies
The sfan if you hear the ruskies will cut some gas too then ahhh hiding.


5a
Anonymous Coward
User ID: 11084381
Brazil
02/19/2012 08:36 AM
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Re: Iran cuts off oil supplies to French, British companies
Just a question:

How much oil Iran uses to export to Britain every month?
Anonymous Coward
User ID: 1496557
Canada
02/19/2012 08:37 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.
 Quoting: Anonymous Coward 1201183


Dude, you peaked and are depleting faster than freefall. You actually imported liquefied gas last year by the shipload.
hiding
Anonymous Coward
User ID: 10555199
Australia
02/19/2012 08:39 AM
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Re: Iran cuts off oil supplies to French, British companies
Just a question:

How much oil Iran uses to export to Britain every month?
 Quoting: Anonymous Coward 11084381


None since the sanctions against Iran in the UN.
Anonymous Coward
User ID: 10464070
United Kingdom
02/19/2012 09:06 AM
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Re: Iran cuts off oil supplies to French, British companies
Why is this not PINNED!!

Wake up MODS!
Anonymous Coward
User ID: 11082279
United States
02/19/2012 09:08 AM
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Re: Iran cuts off oil supplies to French, British companies
Why is this not PINNED!!

Wake up MODS!
 Quoting: Anonymous Coward 10464070


Stop your whining.

Your Great Leaders wanted Iran to stop selling oil, so Iran stopped selling oil.

Now go fuck yourself.
Anonymous Coward
User ID: 1025311
United States
02/19/2012 09:13 AM
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Re: Iran cuts off oil supplies to French, British companies
bump
Anonymous Coward
User ID: 11078701
Germany
02/19/2012 09:13 AM
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Re: Iran cuts off oil supplies to French, British companies
Why is this not PINNED!!

Wake up MODS!
 Quoting: Anonymous Coward 10464070


they wait until DoorBert will post that!
dikkie

User ID: 1328988
Netherlands
02/19/2012 09:28 AM

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Re: Iran cuts off oil supplies to French, British companies
Why is this not PINNED!!

Wake up MODS!
 Quoting: Anonymous Coward 10464070


they wait until DoorBert will post that!
 Quoting: Anonymous Coward 11078701


chuckle
Anonymous Coward
User ID: 11084819
United States
02/19/2012 09:33 AM
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Re: Iran cuts off oil supplies to French, British companies
now would be a great time for a months long blizzard and ice storm to clean up the euro gene pool before we enslave them all as serfs and concubines )
Anonymous Coward
User ID: 11029056
United Kingdom
02/19/2012 09:34 AM
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Re: Iran cuts off oil supplies to French, British companies
now would be a great time for a months long blizzard and ice storm to clean up the euro gene pool before we enslave them all as serfs and concubines )
 Quoting: Anonymous Coward 11084819


we?

fit russkies and chinks maybe, but you tubsters?

nah!
Anonymous Coward
User ID: 11079097
Ireland
02/19/2012 09:49 AM
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Re: Iran cuts off oil supplies to French, British companies
now would be a great time for a months long blizzard and ice storm to clean up the euro gene pool before we enslave them all as serfs and concubines )
 Quoting: Anonymous Coward 11084819


Who's "we"? Let me guess

jihad2
Anonymous Coward
User ID: 11084819
United States
02/19/2012 09:52 AM
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Re: Iran cuts off oil supplies to French, British companies
now would be a great time for a months long blizzard and ice storm to clean up the euro gene pool before we enslave them all as serfs and concubines )
 Quoting: Anonymous Coward 11084819


we?

fit russkies and chinks maybe, but you tubsters?

nah!
 Quoting: Anonymous Coward 11029056


The ones we get will come here willingly to serve, the chinks and russtards will get the trash thats left either too slow sick or stupid too escape )
Anonymous Coward
User ID: 3148910
Canada
02/19/2012 09:52 AM
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Re: Iran cuts off oil supplies to French, British companies
Why is this not PINNED!!

Wake up MODS!
 Quoting: Anonymous Coward 10464070


they wait until DoorBert will post that!
 Quoting: Anonymous Coward 11078701


chuckle
 Quoting: dikkie


Leave DoorBert alone and play nicely, children.

churchlady
Anonymous Coward
User ID: 11057845
United Kingdom
02/19/2012 10:35 AM
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Re: Iran cuts off oil supplies to French, British companies
oh shitters.



all going as planned I expect.
Anonymous Coward
User ID: 5486281
United States
02/19/2012 11:28 AM
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Re: Iran cuts off oil supplies to French, British companies
When Iran cuts off US oil, the invasion begins. Iran nukes Israel, US nukes Iran, China, Russia nuke US, UK, Japan, etc. Titor was right.
Anonymous Coward
User ID: 10302735
02/19/2012 11:29 AM
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Re: Iran cuts off oil supplies to French, British companies
"The French news agency AFP says the decision is not expected to have a big impact. Last year France bought only 3% of its oil - 58,000 barrels per day (b/d) - from Iran and the UK imported even less Iranian oil."

Did anybody actually read the article?
Anonymous Coward
User ID: 8584993
United States
02/19/2012 11:35 AM
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Re: Iran cuts off oil supplies to French, British companies
This is actually a very good plan by Iran.
Iran has chosen the least of its customers to cut oil as a two level plan.
1/ as a warning to others such as Greece and Italy to force them to sign long term contracts with garanteed payments.
2/ To divide the EU
Very very clever Iran
Skin Suit

User ID: 4280163
United States
02/19/2012 11:36 AM

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Re: Iran cuts off oil supplies to French, British companies
i heard iran has electricity too now...

let's bomb them

Idol1
saved

User ID: 10975084
United States
02/19/2012 11:37 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]
 Quoting: Anonymous Coward 10575706


Fucking shills, the ship has set sail, make no mistake.
Come And Take It!
Snoopy
User ID: 1660642
United States
02/19/2012 11:39 AM
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Re: Iran cuts off oil supplies to French, British companies
When Iran cuts off US oil, the invasion begins. Iran nukes Israel, US nukes Iran, China, Russia nuke US, UK, Japan, etc. Titor was right.
 Quoting: Anonymous Coward 5486281


Titor is getting pretty accurate. I wonder if the us survivors, if any, will start civil war part two. Alternate timeline or not, this is getting interesting as hell!
Anonymous Coward
User ID: 8584993
United States
02/19/2012 11:41 AM
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Re: Iran cuts off oil supplies to French, British companies
When Iran cuts off US oil, the invasion begins. Iran nukes Israel, US nukes Iran, China, Russia nuke US, UK, Japan, etc. Titor was right.
 Quoting: Anonymous Coward 5486281


Titor is getting pretty accurate. I wonder if the us survivors, if any, will start civil war part two. Alternate timeline or not, this is getting interesting as hell!
 Quoting: Snoopy 1660642


It is 2012 after all
Did we not expect the grand opening?
Anonymous Coward
User ID: 10898505
United States
02/19/2012 11:42 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....
 Quoting: Anonymous Coward 10555199


Right, leave it to the propaganda machine to claim the Iranians are the evil ones for shutting off the oil flow.

so...

abomb
Anonymous Coward
User ID: 8584993
United States
02/19/2012 11:47 AM
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Re: Iran cuts off oil supplies to French, British companies
Iran negotiated a deal with China last week to increse oil export to China from 250,000 bpd to 500,000.
Now this is an extra 250,000 bpd which is far more than Iran exports to all of EU.
Seems Iran has increased its exports directly as a result of this oil ban. The only ones to suffer are the EU themselves.
Talk about shooting yourself in the foot.lol
Anonymous Coward
User ID: 1353726
United States
02/19/2012 11:56 AM
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Re: Iran cuts off oil supplies to French, British companies
i heard iran has electricity too now...

let's bomb them

Idol1
 Quoting: Skin Suit


Especially considering Iran's long history of invading other countries...

... oh wait.
Anonymous Coward
User ID: 11093238
United States
02/19/2012 11:57 AM
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Re: Iran cuts off oil supplies to French, British companies
"The French news agency AFP says the decision is not expected to have a big impact. Last year France bought only 3% of its oil - 58,000 barrels per day (b/d) - from Iran and the UK imported even less Iranian oil."

Did anybody actually read the article?
 Quoting: Anonymous Coward 10302735


just enough to keep prices and speculation nice and highbanana2
Anonymous Coward
User ID: 8584993
United States
02/19/2012 12:04 PM
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Re: Iran cuts off oil supplies to French, British companies
Iran oil burse is opening in March. Up to now they have been trading without the dollar only on biproducts from oil but as from March Iran will be selling oil without the dollar.
Iran is also selling oil to India in return for Gold and they will be negotiating with China in yuan. Iran has agreed with China if they can not recieve money for its oil then they will buy goods in return.
Anonymous Coward
User ID: 10996538
United States
02/19/2012 12:16 PM
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Re: Iran cuts off oil supplies to French, British companies
Iran oil burse is opening in March. Up to now they have been trading without the dollar only on biproducts from oil but as from March Iran will be selling oil without the dollar.
Iran is also selling oil to India in return for Gold and they will be negotiating with China in yuan. Iran has agreed with China if they can not recieve money for its oil then they will buy goods in return.
 Quoting: Anonymous Coward 8584993


That makes no sense why would Iran buy goods from China if China cant pay for oil?
Anonymous Coward
User ID: 10638301
United Kingdom
02/19/2012 12:17 PM
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Re: Iran cuts off oil supplies to French, British companies
Everyone should watch these videos. We've been fed the ultimate build up story over the years.

Embassy hostage situations anyone?

Thread: History of Iran & USA in 10 min, Every American must watch this!!

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