Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...caused by excessive Government borrowing to cover the deficits, leaving little loanable money for businessmen and consumers. They also prophesied that unless the Iran-Iraq war ends speedily, world oil inventories will disappear by February or March, leading to "panic" price boosts-perhaps to as much as $50 per bbl. from $32 now-and a return of the shortages and gasoline lines...
...Organization of Petroleum Exporting Countries are gathering this week. The occasion will be OPEC's 59th ministerial meeting since the cartel was founded in 1960. Looming over all other discussions: whether to push up the cost of oil beyond the $30 Saudi benchmark price and the $37 per bbl. ceiling price set in June...
...from $2.41 to $10.95. Since then, oil-consuming countries have paid the oil producers a staggering $370 billion for the precious black product that is essential to industrial survival. Saudi Arabian Oil Minister Sheik Ahmed Zaki Yamani warns that oil could easily rise to as much as $60 per bbl. in the foreseeable future...
...pumping those reserves suddenly became competitive. The rush was on, with Amoco and Chevron the first major companies to leap in. Today, in 16 fields with more than 100 wells, each costing up to $25 million to build (five times the price in Texas), production has reached 30,000 bbl. of oil and 75 million cu. ft. of gas per day. Geologist Richard Powers estimates that as much as 15.5 billion bbl. of oil and 62.5 trillion cu. ft. of gas lie beneath Wyoming, Idaho and northeastern Utah-a resource larger than the proven reserves on Alaska's North...
...during the past few years Occidental Petroleum, Atlantic Richfield and Union Oil have spent millions experimenting with shale-oil extraction in Colorado's Piceance Basin. Occidental Chairman Armand Hammer believes that his company will be able to begin commercial production by 1985, keeping costs below $25 per bbl. Today other companies are digging mines near Grand Junction and Rangely, Colo., and Vernal, Utah. Exxon is the most enthusiastic: last May the oil giant paid Atlantic Richfield $400 million for its share in the Colony oil-shale project in Colorado, and now plans to spend $500 billion over the next...