Interesting table from our friends at The Oil Drum. Only 14 of the 54 oil producing nations in the world are still increasing their oil production. Considering 2008 saw a global all-time-high in exploration and production expense, could provide some food for thought in terms of geopolitical risk changes (see which countries are depleting more rapidly) and where the new areas of resources could be coming from. To be considered past-peak, a producer’s current (2008) production has to be at least 10% less than its best year, and the best year must have occurred prior to 2005.
- CountryPeak Prod.2008 Prod.% Off PeakPeak Year
- United States112977337-35%1970
- Venezuela37542566-32%1970
- Libya33571846-45%1970
- Other Middle East7933-58%1970
- Kuwait33392784 -17%1972
- Iran60604325-29%1974
- Indonesia16851004-41%1977
- Romania31399-68%1977
- Trinidad & Tobago230149-35%1978
- Iraq34892423-31%1979
- Brunei261175-33%1979
- Tunisia11889-25%1980
- Peru196120-39%1982
- Cameroon18184-54%1985
- Other Eur/Eurasia762427-44%1986
- Russian Federation114849886-14%1987
- Egypt941722-23%1993
- Other Asia Pacific276237-14%1993
- India774766-1%1995
- Syria596398-33%1995
- Gabon365235-36%1996
- Argentina890682-23%1998
- Colombia838618-26%1999
- United Kingdom29091544-47%1999
- Rep. of Congo 266249-6%1999
- Uzbekistan191111-42%1999
- Australia809556-31%2000
- Norway34182455-28%2001
- Oman961728-24%2001
- Yemen457305-33%2002
- Other S. America153138-10%2003
- Mexico38243157-17%2004
- Malaysia793754-5%2004
- Vietnam427317-26%2004
- Denmark390287-26%2004
- Other Africa7554-28%2004
- Nigeria25802170-16%2005
- Chad173127-27%2005
- Italy127108-15%2005
- Ecuador545514-6%2006
- Saudi Arabia1111410846-2%2005 / Growing?
- Canada33203238-2%2007 / Growing
- Algeria20161993-1%2007 / Growing
- Equatorial Guinea368361-2%2007 / Growing
- China37953795-Growing?
- United Arab Em.29802980-Growing
- Brazil18991899-Growing
- Angola18751875-Growing
- Kazakhstan15541554-Growing
- Qatar13781378-Growing
- Azerbaijan914914-Growing
- Sudan480480-Growing
- Thailand325325-Growing
- Turkmenistan205205-Growing
- Peaked / Flat Countries Total-49597-60.6% of world oil production
- Growing Countries Total-32223-39.4% of world oil production