Word: bbl
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...vulnerable waterway. At such desert-edge ports as Ras Tanura, Abu Dhabi, Kuwait, Dhahran and Kharg Island, scores of supertankers congregate like wallowing whales to suck up crude oil. Daily they plow through the gulfs warm waters and out through the Strait of Hormuz carrying some 20 million bbl. of oil-almost half of the non-Communist world's consumption. If the gulf were closed, the effect on the U.S., Europe and Japan would be devastating...
...reducing air-conditioning levels in federal buildings, for instance, 113 million kilowatt-hours of electricity (equivalent to 270,000 bbl. of oil per year) would be conserved. Similarly, the number of trips by federal officials, who now travel some 250 million miles a year could be cut by 10%, saving about 1.7 million gallons of gasoline...
...value of Libya's oil reserves, which Gaddafi has lately been trying to conserve by limiting production to about 60% of 1970's 3,700,000 bbl. a day, will increase accordingly...
...Holland as far back as 1959, but the first two oilfields in the sea did not begin producing until last year. At least four more fields are scheduled to begin pumping by the end of 1974. Total deposits under the chill waters are estimated to be 12 billion bbl. of oil and 50 trillion cu. ft. of gas. That is rather small by Middle Eastern standards-the oil reserves would supply only two years of Mideast production-but large by almost any others. For example, the North Sea deposits probably exceed the 10 billion bbl. of oil estimated...
...technological challenge. Brown & Root, a U.S. construction firm, is helping to build two semisubmersible drilling platforms for British Petroleum in Scotland. They will be 700 ft. tall, about the size of the largest office building in Europe. A Norwegian firm is building for Phillips Petroleum a 1,000,000-bbl. at-sea storage tank with a double shell; the exterior is perforated to absorb the impact of the giant waves. This technology is so expensive that capital costs of drilling average 20 times higher than those encountered on land in the Middle East. Still, savings on transportation costs and taxes...