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Question of the Day: How do you normally pay for purchases in stores?
Oil may fall to $25 - BP
- Thread starter BTTB
- Start date
hj2k_x
Honorary Master
Interesting...How long is the medium term though? More like years isnt it?
kissingmybbgoodbye
Expert Member
Caspian Sea/Angola/Equatorial Guinea
Interesting that they mention Large new discoveries off the West coast of Africa and the Caspian Sea.
My elder brother has worked off Angola and is now stationed in Baku servicing the Caspian Sea area.
He personally has mentioned the vast quantities of oil off Angola amongst other places like Equatorial Guinea, but was not keen to work in EG.
He says the Angolan Oil Platforms are great for the simple reason that the weather is in the tropics and the sea is relatively calm so the Tankers pump straight from the Oil Rigs, unlike the stormy North Sea for instance.
Now and then he reckons the Tankers take a "free" load into Luanda.
One should not also forget that South Africa also produces some Oil as well.
Apparently enough for 50% of our own consumption?
See South Africa's deep well of pride and my post here.
Interesting that they mention Large new discoveries off the West coast of Africa and the Caspian Sea.
My elder brother has worked off Angola and is now stationed in Baku servicing the Caspian Sea area.
He personally has mentioned the vast quantities of oil off Angola amongst other places like Equatorial Guinea, but was not keen to work in EG.
He says the Angolan Oil Platforms are great for the simple reason that the weather is in the tropics and the sea is relatively calm so the Tankers pump straight from the Oil Rigs, unlike the stormy North Sea for instance.
Now and then he reckons the Tankers take a "free" load into Luanda.
One should not also forget that South Africa also produces some Oil as well.
Apparently enough for 50% of our own consumption?
See South Africa's deep well of pride and my post here.
supersunbird
Honorary Master
To bad that doesn't mean the fuel pirce would be cut in half even...
freeek
Expert Member
Do you know how cheap petrol is in America ... those rat bastards!
Freshy-ZN
Executive Member
I worked in Equatorial Guinea as part of the construction team (Surveyor)
The gulf around the island of Bioko is full of natural gas and oil. They cant build refineries fast enought to process it all. At one stage the flares that burnt off the excess that the plant couldnt process was going full ball for months and months.
Heres a google earth coordinate for those that are interested:
3* 46' 43'' N, 8* 43' 11'' E
The image is a bit dated now (circa early 2004). South of the exisiting refinery you can see the construction of Phase 2 which is complete now and south of that you can see the clearings on the jungle for the next Phase 3. In addition to the on-shore refinery there are plenty ships and platforms that drill and pump gas in the Gulf.
The gulf around the island of Bioko is full of natural gas and oil. They cant build refineries fast enought to process it all. At one stage the flares that burnt off the excess that the plant couldnt process was going full ball for months and months.
Heres a google earth coordinate for those that are interested:
3* 46' 43'' N, 8* 43' 11'' E
The image is a bit dated now (circa early 2004). South of the exisiting refinery you can see the construction of Phase 2 which is complete now and south of that you can see the clearings on the jungle for the next Phase 3. In addition to the on-shore refinery there are plenty ships and platforms that drill and pump gas in the Gulf.
One area the article didn't seem to adress was the lack of refining capability. Most refineries are running at close to 100% at the moment, and it takes quite a while for refineries to be build. Crude oil is of little use to anyone.