PROBLEMATIC

The current world oil consumption is 87,915 kBbl/day. The world total proven oil reserves is 1,478,974 million barrels.

The current daily production rate is 83,241 kBbl/day (That means we consume more than we produce oops!).

For the last 5 years (2005 to 2010), the world consumption has increased by 25%.

Someone will ask me what about the reserves? of course, the past 5 years, the reserves have increased by 29% but only 30% is recoverable by current methods and 55% by heavy

high tech engineering methods.

When is the end of oil as the primary source of energy

By Eric ADANGBA, Hult Energy Club

INTRODUCTION

Energy and persistence conquer all things. Benjamin Franklin (January 17, 1706 [O.S. January 6, 1705[1]] – April 17, 1790) was one of the Founding Fathers of the United States.

By Eric ADANGBA, Hult Energy Club

OPERATION OVERVIEW

By Eric ADANGBA, Hult Energy Club

OPERATION OVERVIEW TODAY

By Eric ADANGBA, Hult Energy Club

TOP 10 PRODUCER IN THE WORLD

• Russia 10450 • Saudi Arabia 9761 • USA 7805 • Iran 4259 • China 4103 • Canada 3367 • Mexico 2953 • United 2848 • Venezuela 2438 • Nigeria 2436

2010

(KBbl/Day)

By Eric ADANGBA, Hult Energy Club

WORLD’S PRODUCTION

0

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70000

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90000

1995 2000 2005 2008 2009 2010

Tho

usa

nd

of

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World's Production of Oil 2010 =82000 K Barrel/Day

By Eric ADANGBA, Hult Energy Club

TOP 10 RESERVE IN THE WORLD

• Saudi 262602 • Venezuela 211170 • Canada 175214 • Iran 137010 • Iraq 115000 • Kuwait 104000 • USA 97800 • Russia 60000 • Libya 46420 • Nigeria 37200

(Mbl) Top 10 Producer (Kbl/Day)

WATCH WHAT HAPPENNING TO THE OUTSIDERS

By Eric ADANGBA, Hult Energy Club

• Russia 10450 • Saudi Arabia 9761 • USA 7805 • Iran 4259 • China 4103 • Canada 3367 • Mexico 2953 • United 2848 • Venezuela 2438 • Nigeria 2436

By Eric ADANGBA, Hult Energy Club

84%

16%

World's Oil Reserve 2011

Top 10

Rest of the World

WORLD’S RESERVE

TOP 10 OIL CONSUMPTION

• United 19 528 • China 9 377 • Japan 4 422 • India 3 338 • Russia 3 041 • Brazil 2 724 • Saudi Arabia 2 664 • Germany 2 483 • South Korea 2 249 • Canada 2 234

59%

41%

World's Oil Consumption 2010

Top 10

Rest of the World

WATCH THEIR FUTURE ACTION (BRIC)

By Eric ADANGBA, Hult Energy Club

LEVEL OF DEPENDANCE

• Russia • Saudi Arabia • USA • Iran • China • Canada • Mexico • UAE • Venezuela • Nigeria

• Saudi • Venezuela • Canada • Iran • Iraq • Kuwait • USA • Russia • Libya • Nigeria

• United • China • Japan • India • Russia • Brazil • Saudi Arabia • Germany • South Korea • Canada

Top 10 Producer Top 10 Reserve Top 10 Consumer

IN TROUBLE: CHINA, JAPAN, INDIA, BRAZIL, SOUTH KOREA, GERMANY By Eric ADANGBA, Hult Energy Club

HOW LONG CAN WE SURVIVE?

Dependence from OIL&GAS Years to survive • USA 62% 10

• CHINA 22% 14

• JAPAN 63% 7

• INDIA 31% 18

• BRAZIL 58% 16

• GERMANY 56% 9

• SOUTH KOREA59% NA

• WORLD 45

By Eric ADANGBA, Hult Energy Club

OIL FUTURE

We produce only 2.2% of the Daily Reserve and consume 100% of our production

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44 43

44 45 45

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Future World's Oil

New Discovery

Years to survive

The Discovery Rate is about 5% increase average YoY.

OIL FUTURE IS UNCERTAIN, NOT PREDICTABLE

Production

By Eric ADANGBA, Hult Energy Club

WHEN OIL ENERGY WILL DIE?

Mideast/N.Africa oilfields 6 28 Arctic oilfields 32 100

Other conventional oilfields 6 39 Heavy oil/bitumen 32 68

CO2 enhanced oil recovery 30 80 Oil shales 52 113

Deep/ultra-deep-water oilfields 32 65 Gas to liquids 38 113

Enhanced oil recovery 32 82 Coal to liquids 60 113

Oil fie lds Estim ated Production Costs ($ 2008)

COST OF DOING OIL BUSINESS IS LESS THAN THE OIL PRICE

By Eric ADANGBA, Hult Energy Club

COMPARISION WITH SUBSTITUTES

By Eric ADANGBA, Hult Energy Club

WHAT IS THE NEXT SOURCE OF ENERGY

• HYDRO

• NUCLEAR

• COAL

• WIND

• GAS

• SOLAR

Need HULT MBA to crack it!

By Eric ADANGBA, Hult Energy Club