Word: bbl
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Dates: during 2000-2009
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...came up with a process to convert coal to liquid fuel. When Adolf Hitler seized power in coal-rich, oil-poor Germany in 1933, the Nazis used the Fischer-Tropsch process to help power their military expansion across Europe; during World War II, Germany was producing 125,000 bbl. of synthetic fuel a day at 25 plants. After the war, a South African entrepreneur called "Slip" Menell bought the South African rights to Fischer-Tropsch, and in 1950 the new white supremacist Nationalist Party government formed Sasol--an acronym for Suid-Afrikaanse Steenkool en Olie (South African Coal...
That future, as Davies notes, could be dazzling. With the price of crude at one point this year reaching $147 per bbl., interest in alternative sources of oil is unprecedented. A big part of that interest comes from the U.S., India and China, which all rely on oil imports and have massive coal reserves. Feasibility studies for Sasol to build two plants in China, each projected to produce 80,000 bbl. a day by 2012, are at an advanced stage. In the U.S., Sasol is courting interest from several states, including Montana, Illinois and Wyoming, as well...
...list of 35 corporations, including six American giants, reads like a Who's Who of global oil players, all of whom are invited to bid on eight major oil and gas projects Iraq wants to launch next year. The goal is to get Iraq, currently producing about 2 million bbl. a day, pumping up to 3 million by the end of 2009. The eight oil projects on offer to outside companies chiefly involve refurbishing and developing various oil and gas fields in southern Iraq. American and Iraqi officials say the projects can go forward without passage of a long-delayed...
...Ueaibi says South Oil Company is in the process of rehabilitating about 200 wells that could increase production by about a quarter-million bbl. a day by the end of the year. Perhaps as much as 2.5 million bbl. a day could be flowing from Iraq within a year if South Oil Company can get some further outside help from companies in the coming months before any major deals are signed. Production levels beyond that, al-Ueaibi says, will depend on how much more outside help Iraq...
...direct route to restoring its influence in the Middle East. An Iranian-Russian alliance, Moscow knows, would be an Israeli-American nightmare, not to mention a major headache for the global economy. Russia sitting on Eurasian oil exports and Iran on the Strait of Hormuz would put 22 million bbl. a day under the control of a very unfriendly alliance. Will Moscow try to team up with Tehran...