EIA just published its annual World Crude Oil Distillation Capacity tabulation which gives a country by country breakdown of distillation capacity as of January 1, 2006. Distillation capacity jumped up 2.8% in the last year, to 85,127 thousand barrels a day, the highest increase since 1978 and the first time it exceeded 1.0% since 2000. Demand for oil for the first three quarters of 2005 (latest figures available) was up 1.16% over last year, so refinery capacity is up well ahead of demand. This should help eliminate the refinery bottleneck that has existed during the past year, as long as they can get enough crude.
The United States did not show any increase in distallation capacity during 2005, so our imports of refined products are going to increase. China showed the largest increase with 1,596 thousand barrels per day, followed by Saudi Arabia (350) the United Arab Emirates (267), Poland (117) and Germany (105) for a net total of 2,332 barrels per calender day to 84,500. Several countries had a loss of capacity, so note that the total is total net capacity.
The total world crude oil production (including lease condensate) is running about 73,500 thousand barrels per day or about 86% of distillation capacity. This is still a very high percentage on a worldwide basis, it would be OK for an individual country.
These number do not represent total liquids output capacity, natural gas liquids alone are about 7,500 thousand barrels per day, so be careful if you try to compare these numbers to other numbers.
Technorati tags: oil, refineries, energy, technology
Do you guys believe the peak oil theory of not building refining capacity. Peak oilers seems to believe that the reason why the US has not built a refinery for a few decades is because world was gonna hit peak oil. Here are some peak oil sites I found
www.peakoil.net
www.lifeaftertheoilcrash.net
www.theviewfromthepeak.com
www.oildrum.com
Posted by: Anonymous | March 16, 2006 at 08:09 PM
Moves by the CFTC to try and regulate the oil trading market and prevent the kind of speculation which has seen crude oil prices rise from $30 per barrel back towards $70+ this year took an interesting twist yesterday when it was announced that the weekly COT data would now include new details on the aggregate holdings of the big Wall Street dealers, hedge funds and other financial participants. COT data is a useful market sentiment tool but as many of the market participants both hedge and speculate it has become increasingly difficult to analyse. According to the CFTC the new format will be making its debut next Friday.
Posted by: Anna Coulling | September 06, 2009 at 03:57 AM
BP Oil crisis - Complexity
Why does something as simple as an oil leak turn into a full blown out crisis? Part of the reason is that British Petroleum (BP) denied world wide help until BP realized that the oil leak was much greater than they had anticipated. Even though we have access to the technology to prevent global epidemics like famine and starvation, they still occur despite our best efforts. What might start off as a simple problem can quickly escalate into a natural disaster if the appropriate response doesn’t happen immediately.
Posted by: matt_solis | August 18, 2010 at 03:23 AM
“What might start off as a simple problem can quickly escalate into a natural disaster if the appropriate response doesn’t happen immediately.”
Interesting concept. This mentality could be applied virtually any problem. Expand this concept to a global scale, and it will probably take exponentially longer for a response to occur in time.
Posted by: ANewHope | August 19, 2010 at 07:30 PM
I remember seeing a discussion on the shortage of resources and people competing for those resources on a Facebook community page http://www.facebook.com/thewatchmansrattle
Here’s the link to the actual video on why people hoard resources and compete with one another when they know working together creates the best outcome for everyone.
http://www.facebook.com/video/video.php?v=1493017207106
Posted by: Matt_solis | August 19, 2010 at 07:31 PM
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Posted by: about crude oil | January 02, 2012 at 11:26 AM