Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on August 19, 2013
Oil Depletion in Lithuania: 20 pct in 2013
According to the data provided by Lithuania’s Geological Service, within the year, oil extraction in Lithuania decreased by almost 20 percent. The main reasons for decrease are depletion of the current oil sources and slow progress in oil exploration, reported LETA/ELTA.
 |
|---|
According to Minister of Environment Valentinas Mazuronis, it is natural that exploiting the same oilfield it is finally exhausted. “Therefore, we have to look for new, both traditional and non-traditional fields of hydrocarbon. It is also necessary to review the tax base so that the State would benefit from the extracted oil and that the extraction companies would not suffer as well,” said Mazuronis.
In the first half of 2012, 5.353 million tonnes of oil were extracted, while in the first half of 2013, only 4,295 million tonnes of oil were extracted in Lithuania.
At present, there are three new oilfields have been explored in Lithuania. Though they are small, their extraction is economically viable.
2 Comments on "Oil Depletion in Lithuania: 20 pct in 2013"
BillT on Tue, 20th Aug 2013 6:18 am
Lithuania oil reserves are less than 12 million barrels or 12 hours US needs. Desperation is getting stronger if this is news.
BTW: 4300 million tons = 30 billion barrels ???
If my math is correct, they are claiming to produce more than Saudi Arabia and in only half of the year. Pure BS!-+
“… Lithuania produced approximately 8,000 barrels per day (bbl/d) of liquid fuels, including 2,000 bbl/d of crude oil,(2011) …” EIA article.
“…The Saudi Arabian Oil Co., known as Aramco, said Tuesday that oil production rose to 3.479 billion barrels in 2012,…”
Note the decimal point in the SA number and the comma in the above article. WTF?
verstapp on Wed, 21st Aug 2013 10:06 am
in many euro countries the comma is used as decimal point and the full stop as thousands separator, leading to the possibility of mistranslation.