Monday, June 11, 2012

World oil production : 2010 VS 2009

Rising prices pushed a few more countries into the oil business. 125 countries  were producing oil in 2010 vs 115  in 2009. With all new players some countries gave up on their oil ambitions. Paraguay  and Mongolia do not produce any more oil, Panama gave up on  it's 2 barrels a day also, I guess governmental subsidies dried out.  The newbies are
1) El Salvador with 15 640 barrels per day
2) Sri lanka   with 637  barrels per day
3) Curasao , 531 barrels per day

4) Jamaica  506 barrels per day
5) Ireland, 431 barrels per day
6)Dominican republic, 392 barrels per day
7) Nicaragua , 377 barrels per day

8) Costa-Rica  , 263 barrels per day
9) Kenya, 136 barrels per day

10) Macedonia , 116 barrels per day
11) Jordan, 88 barrels per day

12) Senegal, 65 barrels per day

13) Bosnia and Herzegovina , 59 barrels per day

Top ten oil producing countries averaged  53 182 000 barrels  per day in 2010  which is by 1.925 mln barrels more than top ten did in 2009, however the next ten produced only  3000 barrels  more than their pars in 2009;

top 20  ( 2010 ) 72.735 mln barrels per day  VS  70.807 mln barrels in 2009

The  following third, fourth and fifth  tens  produced a little bit less than  they did in 2009 , the grand total for top-50  is 85 208.9 ( 2010 ) VS   83 325.5 (2009) or 1.8834  million barrels per day more.

grand total for 2010  -- 86 657. 989 barrels per day  and for 2009-- 84 764. 555 barrels per day 

So basically the world in 2010 produced   more than 691 million barrels of oil on top of it's  2009 production, and average availability of oil went up  to 4.565 barrels per year  per  resident ( increase  by about 8.78 liters, or 2.32 US gallons, despite of global population growth by about 75-76 million )

Despite of the increased production, in 2010 humanity spent around 2.4 trillion dollars on  crude oil, or  about 600 billion dollars more than it did in 2009.

However  more than 438 million barrels, or  almost 63.5% of an entire world's surplus, went to satisfy  China's need for energy , which in 2010 totaled a whopping  3.43 BILLION barrels of oil.
India in it's turn took over 73 million barrels, or almost 11%, from this new bonanza, and Saudi Arabia experienced similar growth in consumption. Indonesia also took  in about 64.6 million barrels more than it did in 2009. So just between these  4 countries ,  their increase of consumption would require over 96.5% of all  surplus for 2010. Fortunately  for everybody ( or almost  everybody ) many countries decreased their oil consumption, for example Russia  consumed  541 000 barrels per day less in 2010 ( what's up with that, by the way, probably a miscalculation, Thailand for example  is also said to increase it's oil consumption by 277 % in one year  ).

39 exporters were selling their surplus to the rest of the world, with Bolivia  becoming a new  exporter  even though it produces  barely 230 barrels a day more than it consumes. Bolivia became a net exporter  in 2010 thanks to decreased consumption of oil within the country.

Tunisia, Bahrain and Suriname  stopped being net exporters and became net importers in 2010.
Instead of offering to the world market  13 130 barrels of oil per day as they did in 2009 ( Bahrain 9560 , Tunisia 2380, and Suriname 1190 ) they now  have to find funds to buy  570 barrels per day ( Bahrain ) , 280 barrels per day ( Tunisia ) and  540 barrels per day ( Suriname ).
Simplistically saying, instead of getting $40 mln per month they now have a well over  a $ 4 mln bill. Not really a big deal, not yet, though it might be already for Suriname since their entire budget revenue is less than 68.9  million dollars per month and the oil exports used to bring more than $3.5 million per month into the country..

Main source of data : ;
Please remember that cia's data differs , sometimes significantly, for reasons unknown to me  from the data of  U. S  Energy Information Administration at .

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