Keynote Speaker and Woodworker.
People can make the story they want out of actual numbers!
Sep 4, 2018 • 13 tweets • 9 min read
Comments by Paal Kibsgaard, Schlumberger Chairman & CEO 1- "Still, the well-established market consensus that the #Permian can continue to provide 1.5 million barrels per day of annual production growth for the foreseeable future is now starting to be called into question" 2- "In fact, so far in the third quarter, the hydraulic fracturing market has already softened significantly more than we expected in spite of the overall rig count holding up relatively well."
May 23, 2018 • 8 tweets • 4 min read
What is the size of the global #oil spare production #capacity? 1- Spare capacity doesn't matter, what matters is the "effective spare capacity", which is what you can bring on line within 90 days of crude quality that buyers are willing to buy.
#OPEC2- therefore, there are three conditions:
a- Supply: has to be produced within 90 days
b- Demand: Buyers are willing to buy it: crude quality and price wise
c- Delivery: Ability to deliver to byers. Stranded #oil production with no pipeline to transport should not be counted,