Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...voluntary conservation agreement worked out last week during a two-day conference of the 20-nation International Energy Agency in Paris. The nations agreed to cut overall oil consumption by 5%, but because the U.S. uses so much, it pledged to reduce imports by 11%, or 1 million bbl. a day. The U.S. Department of Energy announced that it would meet that goal by relaxing controls on gasoline so that the retail price, which now averages some 70? for regular, will rise about 5? during the year, thereby discouraging consumption...
Bazargan aims to increase Iran's oil production from its current rate of 700,000 bbl. a day, which is barely enough to provide for the country's needs, to 3.5 million bbl. in a few months. Though that is scarcely more than half Iran's pre-revolution output, it is a reasonably ambitious target, especially since the country's oilworkers have strong leftist sentiments...
...supplies fall, the price of oil is going up. Though Saudi Arabia and some other OPEC nations have been pumping an extra 3 million bbl. per day at higher prices to offset some of Iran's export shortfall of 5.5 million bbl. per day, the net world loss of 2.5 million bbl. has still started what some oilmen describe as a wild scramble for crude in the free market. Since mid-December the spot price has nearly doubled, to at least $22 a barrel, vs. the OPEC cartel's price of $13.34. This windfall profit for European...
...Portillo to begin negotiations between the two governments for American purchases of Mexican natural gas o avert social and economic disruptions López Portillo has vowed to follow a go-slow production policy and not permit Mexico's wells to pump more than 2.3 million bbl. of oil and gas a day (up from 1.5 million bbl. now) for the rest of his term, which ends in 1982. Thus Mexico will not be able to do much to help the U.S. out of its present energy bind...
Another unpopular measure to spare energy would be to moderate some antipollution regulations. The American Petroleum Institute estimates that the extra crude required to make unleaded gas for new cars with catalytic converters amounts to 140,000 bbl. per day, and the Department of Energy figures that yet another 500,000 bbl. will be added to daily demand if the next legally mandated reduction in gasoline additives goes through as scheduled in October...