§ Norman BakerTo ask the Secretary of State for Trade and Industry what has been the annual global(a) production and (b) consumption of oil each year since 1997. [90786]
§ Mr. WilsonEstimates of global production of crude oil and natural gas liquids together with estimates for global oil demand are produced by the International Energy Agency and are given in the following table.
Million metric tones Year World production of crude oil and natural gas liquids World oil demand 1997 3,464 3,393 1998 3,532 3,419 1999 3,456 3,474 2000 3,585 3,516 2001 3,579 3,519 Source:
International Energy Agency (Oil Information 2002)
§ Norman BakerTo ask the Secretary of State for Trade and Industry what has been the average(a) gross and (b) net price received per barrel of oil extracted from the UK section of the North Sea in each year since 1974; and what the average price of oil per barrel was on the world market in each of those years. [90792]
§ Mr. WilsonThe DTI surveys which collect data giving the average price received per barrel of oil extracted from the UK were begun only in 1976. The prices from these surveys have been converted to $/barrel and are shown in the table against the spot prices of the three major world benchmark crudes. The prices shown are gross; prices net of costs and taxes/royalties cannot be estimated because data restricted to oil production are unavailable.
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Crude Oil Prices 1976–2001 Spot marker prices Average UK price received £/tonne $/bbl1 Brent $/barrel2 Dubai $/barrel3 West Texas intermediate $/barrel4 Exchange rate $/£ 1976 55.0 13.2 12.8 11.6 12.2 1.80 1977 59.4 13.8 13.9 12.4 14.2 1.75 1978 53.2 13.6 14.0 13.0 14.6 1.92 1979 73.7 20.9 31.6 29.8 25.1 2.12 1980 111.9 34.7 36.8 35.7 38.0 2.33 1981 138.3 37.3 35.9 34.3 36.1 2.03 1982 142.0 33.1 33.0 31.8 33.7 1.75 1983 148.3 30.0 29.6 28.8 30.3 1.52 1984 164.9 29.4 28.7 28.1 29.4 1.34 1985 158.3 27.4 27.5 27.5 28.0 1.30 1986 73.3 14.3 14.4 13.0 15.0 1.47 1987 81.7 17.9 18.4 16.9 19.2 1.64 1988 63.4 15.0 15.0 13.2 16.0 1.78 1989 81.0 17.7 18.2 15.7 19.7 1.64 1990 94.6 22.5 23.8 20.5 24.5 1.79 1991 86.0 20.3 20.0 16.6 21.5 1.77 1992 83.4 19.6 19.4 17.2 20.6 1.77 1993 85.8 17.2 17.1 14.9 18.4 1.50 1994 77.0 15.7 16.0 14.8 17.2 1.53 1995 81.1 17.1 17.2 16.1 18.4 1.58 1996 96.9 20.2 20.8 18.6 22.2 1.56 1997 87.4 19.1 19.3 18.1 20.6 1.64 1998 60.0 13.3 13.1 12.2 14.4 1.66 1999 80.0 17.3 18.3 17.3 19.3 1.62 2000 138.0 27.9 29.0 26.2 30.4 1.52 2001 125.6 24.1 24.8 22.8 25.9 1.44 Notes:
1. Assuming 1 tonne = 7.5 barrels
2. 1976–1984 Forties, 1985–2001 Brent
3. 1972–1985 Arabian Light, 1986–2001 Dubai
4. 1976–1983 Posted WTI prices, 1984–2001 Spot WTI prices
Sources:
UK price received: DTI PQ1100 Quarterly Enquiry and preceding surveys.
Spot marker prices: BP Statistical Review of World Energy (2002).
Exchange rate: ONS.
§ Norman BakerTo ask the Secretary of State for Trade and Industry what estimate she has made of(a) the quantity of oil in the world that remains unextracted and (b) how long this will last at present rates of extraction. [90787]
§ Mr. WilsonThe International Energy Agency (IEA) estimates that proven global reserves of conventional crude oil and natural gas liquids are 959 billion barrels. In addition, the IEA estimates undiscovered resources of conventional crude oil and natural gas liquids to be 939 billion barrels and recoverable non-conventional reserves, such as oil shales, to be 580 billion barrels. In their 2002 publication World Energy Outlook, the IEA commented that resources of conventional crude oil and natural gas liquids are adequate to meet the projected increase in demand to 2030, although new discoveries will be needed to renew reserves.
§ Norman BakerTo ask the Secretary of State for Trade and Industry how much oil has been extracted from the UK section of the North Sea in each year since 1974; and what the estimated total left unextracted is. [90789]
§ Mr. WilsonInformation on offshore UK production of crude oil and natural gas liquids is provided in the table.
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Year Million tonnes 1974 0.3 1975 1.5 1976 12.1 1977 38.2 1978 53.9 1979 77.6 1980 80.2 1981 89.2 1982 103.0 1983 114.6 1984 125.7 1985 127.2 1986 126.6 1987 122.8 1988 113.7 1989 91.0 1990 89.8 1991 87.6 1992 90.3 1993 96.5 1994 121.9 1995 124.8 1996 124.5 1997 123.3 1998 127.3 1999 132.8 2000 123.0 2001 113.8 As at the end of 2001, oil reserves on the United Kingdom Continental Shelf (including onshore and outside the North Sea) were estimated to range between 605 and 1,430 million tonnes for remaining reserves in existing discoveries and between 205 and 1,930 million tonnes in potential future discoveries.