- Issued By: Bharat Book Bureau
- City / State: Mumbai
- Phone: +912227578668
- Company Website: http://www.bharatbook.com
- Submitted: November 20, 2010 9:43 pm
FOR IMMEDIATE RELEASE
Mumbai, November 20, 2010:
Last three to four years have been eventful for global oil industry. Global oil demand managed to increase marginally over the last two years, as the slump in oil demand from OECD countries were outwitted by the increase in consumption in the Asia-Pacific region. Supply crashed massively in the first-half of 2009 in response to the global economic slowdown coupled with OPEC production cuts, but recovered to the pre-recession levels in second-half of 2009. This period was also marked with massive cancellation/deferral of new oil projects, putting at least 6.2 mbpd of new upstream capacity at risk. Global crude oil prices showed unprecedented volatility by crashing below $35 per barrel in Feb-2009 from its historic high of $147 per barrel in July-2008, and progressively recovering again at the current levels of about $75-80 per barrel.
On the other hand, India continued to report a sharp increase in crude oil consumption amid the economic buoyancy. However, growth of the crude oil consumption (4-year CAGR of 6.0 per cent) has not been able to keep pace with growth in GDP (4-year CAGR of 8.8 per cent) primarily due to rising crude prices and increased contribution of the service sector in the GDP. About 80 per cent of this incremental demand is satisfied through imported crude oil amid the declining domestic production from matured fields. The rising import along with stabilizing crude prices have led to a sharp run-up in India’s oil import bill, more than 60 per cent of which can be attributed to the increase in oil prices.
CARE Research has developed an Oil Intensity Model to forecast global oil demand over the next two years. The model involves CARE Research’s quantitative and qualitative judgment on oil intensities of over 70 countries and has utilized GDP forecast by the International Monetary Fund (IMF). On the supply side, CARE Research has used a combination of the decline rate methodology and its Oil Fields Database comprising over 170 new fields that are expected to come on-stream in the next two years to forecast global oil supply.
CARE Research expects global crude oil demand to rebound on the back of economic revival and lack of scope for any substitution/efficiency gain through 2010-12. However, the demand centres are expected to shift to parts of emerging economies. On the supply side, we expect OPEC spare capacity to remain high despite surging demand primarily due to addition of significant new oil production capacity. Our outlook on prices is formulated based on our supply and demand forecasts. We expect that any movement in oil prices to be more reflective of demand side factors in next 2-3 years, post which the price reactions would be more focused on supply side factors.
Table of Contents :
I. OUTLOOK SECTION
II. INDUSTRY SECTION
How oil is formed?
Characteristics of crude oil
Uses of crude oil
Crude oil reserves estimation methods
2. EXPLORATION & PRODUCTION BASICS
Oil Recovery Techniques
Types of offshore rigs
3. GLOBAL SITUATION
4. INDIA SCENARIO
What is Brent/Dubai EFS?
International Crude Tankers Market
Indian Shipping Industry & Policy for Crude Oil Import
Indian Crude Oil Pipelines
For more please visit
OR Contact us at
Bharat Book Bureau
207, Hermes Atrium, Sector 11, CBD Belapur, Navi Mumbai – 400 614, India.
Phone : +91 22 2757 8668 / 2757 9438
Fax : +91 22 2757 9131
E-mail : email@example.com
Website : www.bharatbook.com
418 total views, 1 so far today
- Sun Pharma Announces USFDA Approval for Generic Clarinex® (21 views)
- INDIACSR Presents essay writing competition on the topic of Corporate Governance for students (21 views)
- Ayushi Moving to CMM LEVEL 3 Certification (11 views)
- HTC Desire HD VS Samsung galaxy tab – Choose your best phone among these two (8 views)
- Easy Auscultation Releases Medical Education Course: Congenital Abnormalities (6 views)
- Cloud Computing World Forum Middle East and Africa Agenda Launched (4 views)
- HB Academics Los Angeles LSAT GMAT GRE MCAT SAT Prep Tutoring Enrollment for Winter Spring 2010-11 (4 views)
- Latest High PR One Way Links of Blurbpoint (4 views)
- Internet Marketing: Internet Marketing Strategy Tips and Advice (3 views)
- Mobile Phone Deals – Smart deals at cheap prices (3 views)