This is bad news for gasoline prices Note i
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Posted On: 04/02/2019 11:35:13 AM
This is bad news for gasoline prices
Note i love them as i drive a Prius , 50 to 60 MPG
I can hear all them SUV and truck owners bitching and i say screw you A HOLES
Biggest Saudi oilfield is fading faster...
https://www.bloomberg.com/news/articles/2019-...markets-vp
Ghawar can pump 3.8 million barrels a day, less than expected
Bond prospectus give details of the kingdom’s largest fields
...excerpt:...
It was a state secret and the source of a kingdom’s riches. It was so important that U.S. military planners once debated how to seize it by force. For oil traders, it was a source of endless speculation.
Now the market finally knows: Ghawar in Saudi Arabia, the world’s largest conventional oil field, can produce a lot less than almost anyone believed.
When Saudi Aramco on Monday published its first ever profit figures since its nationalization nearly 40 years ago, it also lifted the veil of secrecy around its mega oil fields. The company’s bond prospectus revealed that Ghawar is able to pump a maximum of 3.8 million barrels a day -- well below the more than 5 million that had become conventional wisdom in the market.
Note the decline , they have been pumping sea water into this field for years . The pipe is 6 feet in diaminator i think
Note i love them as i drive a Prius , 50 to 60 MPG
I can hear all them SUV and truck owners bitching and i say screw you A HOLES
Biggest Saudi oilfield is fading faster...
https://www.bloomberg.com/news/articles/2019-...markets-vp
Ghawar can pump 3.8 million barrels a day, less than expected
Bond prospectus give details of the kingdom’s largest fields
...excerpt:...
It was a state secret and the source of a kingdom’s riches. It was so important that U.S. military planners once debated how to seize it by force. For oil traders, it was a source of endless speculation.
Now the market finally knows: Ghawar in Saudi Arabia, the world’s largest conventional oil field, can produce a lot less than almost anyone believed.
When Saudi Aramco on Monday published its first ever profit figures since its nationalization nearly 40 years ago, it also lifted the veil of secrecy around its mega oil fields. The company’s bond prospectus revealed that Ghawar is able to pump a maximum of 3.8 million barrels a day -- well below the more than 5 million that had become conventional wisdom in the market.
Note the decline , they have been pumping sea water into this field for years . The pipe is 6 feet in diaminator i think
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