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Oil and Gas Supply - The Americas (A 10-year projection and review of oil and gas production and consumption)

Datamonitor, March 2010, Pages: 125


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Having witnessed in 2008 the first major signal that future conventional oil and gas supplies will become much harder to find and more expensive to develop, Datamonitor is publishing this analysis of deep water production around the world. As secure energy supplies become increasingly difficult and expensive to extract, an accurate forecast of supply/demand dynamics becomes more important.

Historically, global economic recessions have led to declining energy demand, but the resultant lower prices have soon led to a recovery in demand and then prices, especially as OPEC has acted to rein in output to tighten supply. This trend has already been reflected in the oil markets to some degree. In the gas sector, supplies will be available only if investment in infrastructure, above all long-distance pipelines and LNG conversion and receiving plants, is well advanced.

Key findings and highlights

- Oil production in the US peaked in 1970 as the old onshore fields of the southern states began to deplete. Despite new output from Prudhoe Bay in Alaska and from shallow waters in the Gulf of Mexico, production has never recovered and, since 1996, decline has been almost continuous.
- Brazilian oil production has been increasing rapidly since 1996 as deep water developments in the Campos basin off Rio de Janeiro State have got underway. Despite the need for pioneering technologies and some setbacks, deep waters are now fundamental to the Brazilian oil industry.
- Most Colombian oil production comes from the Magdalena Valley north of Bogota and from the Andean foothills. Output peaked in 1999, although a major recovery in output is occurring in the short term as new heavy oil developments go ahead.

Reasons to buy

- Gain understanding of which markets will see increased production levels over the next decade
- Identify potential commercial opportunities through an understanding of changing demand and supply dynamics in specific markets
- Analyze the changing balance between on and offshore production



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