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i

Annual Statistical Bulletin 1999

Foreword ........................................................................ ............................................................................................ iv

General notes

Definitions ........................................................................ ..................................................................... v Country groupings ........................................................................ ................................................................. vi Economic organizations........................................................................ OPEC crude oil production ceiling allocations .......................... Conversion factors ........................................................................ Table ........................................................................ ..................................................................................... Page

Section 1: Summary tables and basic indicators

1OPEC Members' mid-year population........................................................................

...............................1

2Area, density and GDP per capita in OPEC Members........................................................................

..........2

3OPEC Members' GDP at current market prices........................................................................

...................3

4OPEC Members' values of exports ........................................................................

......................................... 4

5OPEC Members' values of petroleum exports........................................................................

.....................5

6OPEC Members' values of imports ........................................................................

......................................... 6

7OPEC Members' current account balances........................................................................

........................7

8Annual average exchange rates for OPEC Members........................................................................

............8

9OPEC proven crude oil reserves........................................................................

.......................................9

10World proven crude oil reserves by region........................................................................

..........................10

11OPEC proven natural gas reserves........................................................................

....................................11

12World proven natural gas reserves by region........................................................................

......................12

13Crude oil production in OPEC Members........................................................................

............................13

14World crude oil production by region........................................................................

................................14

15Marketed production of natural gas in OPEC Members........................................................................

.......15

16World marketed production of natural gas by region........................................................................

...........16

17Refinery capacity in OPEC Members........................................................................

..................................17

18World refinery capacity by region........................................................................

......................................18

19Output of refined products in OPEC Members........................................................................

....................19

20World output of refined products by region........................................................................

........................20

21Consumption of refined products in OPEC Members........................................................................

...........21

22World consumption of refined products by region........................................................................

................22

23Crude oil exports by OPEC Members........................................................................

................................23

24OPEC crude oil exports by region........................................................................

.....................................24

25Share of total OPEC crude oil exports by region........................................................................

.................25

26World crude oil exports by region........................................................................

.....................................26

27Exports of refined products by OPEC Members........................................................................

...................27

28World exports of refined products by region........................................................................

........................28

29Exports of crude oil and refined products by OPEC Members........................................................................

29

30World exports of crude oil and refined products by region........................................................................

....30

31Natural gas exports by OPEC Members........................................................................

.............................31

32World natural gas exports by region........................................................................

..................................32

Section 2: Oil and gas data

Exploration and reserves

33World proven crude oil reserves by country........................................................................

........................34

Graph 1World proven crude oil reserves........................................................................

Graph 2Crude oil reserves by region........................................................................

Graph 3Crude oil reserves to production ratios........................................................................

..............................35

34World proven natural gas reserves by country........................................................................

.....................36

35Active rigs in OPEC Members and in world........................................................................

........................37

36Wells completed in OPEC Members........................................................................

..................................38

37Producing wells in OPEC Members........................................................................

...................................40

Graph 4OPEC cumulative production and net addition to reserves........................................................................

....41

ContentsOPEC Annual Statistical Bulletin 1999

ii

TablePage

Crude oil and natural gas production

Graph 5OPEC crude oil production......................................................................................................................41

38Cumulative crude oil production in OPEC Members (with graphs): ................................................................... 42

Algeria, Graph 6......................................................................................................................................... 42

Indonesia, Graph 7 ................................................................................................................................43, 44

IR Iran, Graph 8 ....................................................................................................................................44, 45

Iraq, Graph 9 ........................................................................................................................................46, 47

Kuwait, Graph 10 ..................................................................................................................................47

SP Libyan AJ, Graph 11................................................................................................................................48

Nigeria, Graph 12 .................................................................................................................................49

Qatar, Graph 13 ...................................................................................................................................50

Saudi Arabia, Graph 14 .........................................................................................................................50, 51

United Arab Emirates, Graph 15 ..............................................................................................................52

Venezuela, Graph 16 .............................................................................................................................52, 53

39World crude oil production by country.......................................................................................................54

Graphs 17-25World crude oil production......................................................................................................................55

40Breakdown of natural gas production in OPEC Members.............................................................................56

41World marketed production of natural gas by country..................................................................................58

Graph 26World marketed gas production................................................................................................................59

Graph 27World natural gas reserves to production ratios...........................................................................................59

Share of production by company

42Crude oil production by companies in OPEC Members: .................................................................................. 60

Algeria, Indonesia, IR Iran........................................................................................................................60

Iraq, Kuwait, SP Libyan AJ, Nigeria............................................................................................................61

Qatar, Saudi Arabia, United Arab Emirates, Venezuela................................................................................62

43Parent companies' percentage equity in companies holding producing rights in OPEC Members.......................63

44Parent companies' estimated gross share of crude oil production in OPEC Members.......................................65

Refining

45Refinery capacity in OPEC Members by location.........................................................................................67

46World refinery capacity by country.............................................................................................................69

47Output of refined products by type in OPEC Members.................................................................................70

48World output of refined products by country...............................................................................................72

GraphsOutput of refined products vs refinery capacity............................................................................................73

OPEC, Graph 28......................................................................................................................................... 73

Non-OPEC, Graph 29................................................................................................................................. 73

Consumption

49Consumption of refined products by type in OPEC Members........................................................................74

50World consumption of refined products by country......................................................................................76

GraphProduction and consumption of refined products (OPEC/non-OPEC).............................................................77

Exports

51OPEC Members' crude oil exports by destination (with graphs):

Algeria, Graph 32....................................................................................................................................... 78, 79

Indonesia, Graph 33 .............................................................................................................................78, 79

IR Iran, Graph 34 ..................................................................................................................................79

Iraq, Graph 35............................................................................................................................................ 80, 81

Kuwait, Graph 36 ..................................................................................................................................80, 81

SP Libyan AJ, Graph 37 ..........................................................................................................................81, 82

Nigeria, Graph 38....................................................................................................................................... 82, 83

Qatar, Graph 39 ...................................................................................................................................82, 83

Saudi Arabia, Graph 40 .........................................................................................................................83

United Arab Emirates, Graph 41 ..............................................................................................................84

Venezuela, Graph 42 .............................................................................................................................84, 85

52World crude oil exports by country............................................................................................................86

Graphs 44-50Crude oil exports....................................................................................................................................87

53OPEC refined product exports by destination:

Algeria, Indonesia...................................................................................................................................88

Kuwait, Saudi Arabia...............................................................................................................................89

OPEC Annual Statistical Bulletin 1999Contents

iii

TablePage

54World exports of refined products by country..............................................................................................91

55World natural gas exports by country.........................................................................................................92

Imports

56World imports of crude oil by country........................................................................................................93

57World imports of refined products by country..............................................................................................94

58World imports of natural gas by country.....................................................................................................95

Section 3: Transportation

Tanker fleet

59Tanker fleet development in OPEC Members..............................................................................................96

60World tanker fleet by age.........................................................................................................................97

61World liquid gas carrier fleet by size and type.............................................................................................98

62Liquid gas carrier fleet in OPEC Members..................................................................................................98

63World combined carrier fleet by size..........................................................................................................99

64World laid-up tanker and combined carrier tonnage by size.........................................................................99

Tanker freight rates

65Average spot freight rates for all routes......................................................................................................100

66Freight costs in the spot market.................................................................................................................101

67Spot tanker freight rates for all sizes..........................................................................................................102

Pipelines

68Crude oil pipelines in OPEC Members: .......................................................................................................... 103

Algeria, Indonesia, IR Iran ........................................................................................................................103

Iraq, Kuwait, SP Libyan AJ .............................................................................................................................. 104

Nigeria, Qatar .............................................................................................................................................. 105

Saudi Arabia, United Arab Emirates ................................................................................................................ 106

Venezuela ..................................................................................................................................................... 107

69Gas pipelines in OPEC Members..............................................................................................................108

70Product pipelines in OPEC Members.........................................................................................................110

Section 4: Prices

71Spot OPEC Reference Basket prices..........................................................................................................112

72Spot crude oil prices...............................................................................................................................113

Graph 51Spot OPEC Reference Basket and other spot crude oil prices........................................................................117

Graph 52Spot price differences of WTI, Brent and Dubai to OPEC Basket....................................................................117

Graph 53Spot price of Bonny Light and Arab Heavy.................................................................................................117

Graph 54Spot price differences of Bonny Light and Arab Heavy to OPEC Basket..........................................................117

73Crude oil price in nominal and real terms..................................................................................................119

74Spot refined products prices in major markets.............................................................................................120

75Retail prices of refined products in OPEC Members.....................................................................................121

76Composite barrel and its components in major consuming countries.............................................................122

Graph 55Crude oil prices in nominal and real terms.................................................................................................123

Graph 56Composite barrel and its components........................................................................................................123

Section 5: Major oil companies

77Principal operations of the major oil companies..........................................................................................124

78Revenue, operating costs, deductions, taxation and net income of the major oil companies..............................125

79Costs, deductions, taxation and net income as a percentage of revenue of the major oil companies..................126

80Capital and exploratory expenditure of the major oil companies...................................................................127

Subject index .................................................................................................................................................................... 128

MapOPEC flows of crude and refined oil.........................................................................................inside back flap

iv

Foreword

May I welcome the reader to the new edition of the OPEC Annual Statistical Bulletin,which covers the final year of the old millennium, 1999. Our regu- lar readers will see that the publication has been given a fresh new design as part of the celebrations to mark the 40th Anniversary of the Organization of the Petroleum Exporting Countries on September 14, 2000. The wealth of data on the global oil and gas industry contained both herein and on the accompanying computer diskette, however, remains as comprehensive and informative as ever.

The main story of 1999 was the gradual recovery of the international oil market from its disastrous slump

of 1998. As is well known, this recovery has continued into 2000, although such recent developments lie outside

the scope of this foreword. The upswing began when OPEC and its non-OPEC partners agreed in March 1999

to take a further 2.1 million barrels per day of crude oil off the market, with OPEC contributing 1.7m b/d of the

total and non-OPEC another 400,000 b/d. This decision marked the beginning of the steady market recovery

whose effects can be traced in several of the tables in this book. The average price of the OPEC Reference Basket of crudes in 1999 was $17.47/barrel, a significant

improvement on the record low of $12.28/b in 1998 (see Table 71). As a consequence, the values of our

Members' petroleum exports rose to $154,717 million in 1999 from $107,352 in 1998 (see Table 5). The over-

all current account balance also improved to $16,012m in 1999, up from -$19,456m in 1998, as shown in

Table 7.

It is important to note, however, that even though these 1999 figures represent a considerable improve-

ment on 1998, they were still lower than in 1996 or 1997. This demonstrates once again the importance of view-

ing such statistics in their proper context, which generally means over a longer period of time, and not just select-

ing data covering only a short period in order to make a particular point. This book goes a long way towards

clearing the path to a better perspective on current developments. One should also note that in 1999, the combined population of the eleven OPEC Members surpassed

500 million for the first time (see Table 1). With such a huge total population, it is not surprising that there are

wide variations in the GDP per capita levels of the OPEC Members, or that the average GDP per capita is still

only $1,466 (see Table 2). Thus, an improvement in revenues does not necessarily give the government of a

country the ability to better provide for its citizens, if the population is also constantly growing.

The subject of oil taxation has been a very topical one in recent times, and details are shown in Table

76, which gives the breakdown of the composite barrel in the major consuming countries. It is a point that has

been made many times by OPEC, but the data in this table makes it absolutely clear that the Organization is not

to blame for the high prices of petroleum products such as gasoline in the consuming countries - the responsi-

bility for such high prices lies fairly and squarely on the shoulders of those governments that see fit to impose

extortionate levels of taxation on these products.

Finally, let me note that no collection of data, however comprehensive, can convey the importance of the

role that OPEC has played over the past 40 years. That role has encompassed many aspects: protecting the vital

interests of its Member Countries, ensuring regular supplies of petroleum to the consuming countries, and stabi-

lizing the market at levels that are fair for both producers and consumers of oil. We can be confident that OPEC's

role in the world energy industry will be no less crucial in the new millennium.

Rilwanu Lukman

Secretary General

v

General notes

Definitions

Proven reserves: an estimated quantity of all hydrocarbons statistically defined as crude oil or natural gas, which geological and engi-

neering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing econom-

ic and operating conditions. Reservoirs are considered proven if economic producibility is supported by either actual production or

conclusive formation testing. The area of an oil reservoir considered proven includes those portions delineated by drilling and defined

by gas-oil or oil-water contacts, if any, and the immediately adjoining portions not yet drilled, but which can be reasonably judged

as economically productive on the basis of available geological and engineering data. In the absence of information on fluid con-

tacts, the lowest known structural occurrence of hydrocarbons controls the lower proven limit of the reservoir.

Crude oil: estimates include oil which can be produced economically through application of improved recovery techniques follow-

ing successful completion of pilot testing. Estimates do not include:

• oil that may become available from known reservoirs but is reported separately as "indicated additional reserves";

• oil, the recovery of which is subject to reasonable doubt because of uncertainty as to geology, reservoir characteristics or eco-

nomic factors; • oil that may occur in untested prospects; and • oil that may be recovered from oil shales, coal, gilsonite and other such sources.

Natural gas:estimates are prepared for total recoverable natural gas, non-associated gas and associated-dissolved gas. Estimates

do not include gaseous equivalence of natural gas liquids expected to be recovered from reservoir natural gas as it is produced, nat-

ural gas being held in underground storage or non-hydrocarbon gases.

Rig:a derrick complete with engine-house and other equipment necessary for drilling, completing and servicing oil and gas wells.Well(exploratory and development): a hole drilled for the purpose of finding or producing crude oil or natural gas; or providing

services related to the production of crude oil and natural gas.

Completion:this term refers to the installation of permanent equipment for the production of oil or gas.

Oil or gas well:a well completed for the production of oil or gas from one or more zones or reservoirs.

Dry hole:a well found to be incapable of producing either oil or gas in sufficient quantities to justify completion as an oil or gas

well.

Crude oil:a mixture of hydrocarbons that exists in a liquid phase in natural underground reservoirs and remains liquid at atmospheric

pressure after passing through surface separating facilities. Production volumes reported as crude oil include:

• liquids technically defined as crude oil;

• small amounts of hydrocarbons that exist in the gaseous phase in natural underground reservoirs, but which are liquid at atmos-

pheric pressure after being recovered from oil well (casing head) gas in lease separators; • small amounts of non-hydrocarbons produced with the oil.

Natural gas liquids (NGLs):those reservoir gases liquefied at the surface in lease separators, field facilities or gas processing plants.

NGLs consist of field condensates and natural gas plant products such as ethane, pentane, propane, butane and natural gasoline.

Natural gas:a mixture of hydrocarbon compounds and small quantities of various non-hydrocarbons existing in the gaseous phase or

in solution with oil in natural underground reservoirs at reservoir conditions. The natural gas volumes in this Bulletin refer to Standard

Conditions of 60

o

F, 14.73 psia (15.6

o

C, 760 mm/Hg).

Gross production:the total flow of natural gas from oil and gas reservoirs of associated-dissolved and non-associated gas.

Marketed production:corresponds to gross production, minus the volumes of gas flared or re-injected into fields, minus the shrinkage.

Re-injection:the total volume of natural gas produced from oil and gas completions, processed through gas-processing plants and

field facilities, and used for gas lift, gas injection, and cycling operations.

Shrinkage:contraction due to natural gas processing, purification for the extraction of natural gas liquids.

Flared:total volume of vented or flared gas.

Refinery capacity (operable):the maximum amount of input to crude oil distillation units that can be processed in an average 24-

hour period.

Barrels per calendar day (b/cd):the total number of barrels processed in a refinery within a year, divided by 365 days, thus reflect-

ing all operational limitations.

Barrels per stream day (b/sd):the number of barrels of input that a refining facility can process within 24 hours, operating at full

capacity under optimal crude and product slate conditions. General notesOPEC Annual Statistical Bulletin 1999 vi

Petroleum products:products obtained from the processing of crude oil, and unfinished oils, NGLs, and other hydrocarbon com-

pounds. These include aviation gasoline, motor gasoline, naphtha, kerosene, jet fuel, distillate fuel oil, residual fuel oil, liquefied

petroleum gas, lubricants, paraffin wax, petroleum coke, asphalt and other products.

Gasoline:a mixture of relatively volatile hydrocarbons, with or without small quantities of additives, that have been blended to form

a fuel suitable for use in internal combustion engines; includes gasoline used in aviation. Kerosene: medium hydrocarbon distillates in the 150 to 280 C distillation range, and used as a heating fuel as well as for certain types

of internal combustion engine; including jet fuel, which is a fuel of naphtha, or of kerosene type, suitable for commercial or military pur-

poses in aircraft turbine engines.

Distillates:middle distillate type of hydrocarbons. Included are products similar to number one and number two heating oils and

diesel fuels. These products are used for space heating, diesel engine fuel and electrical power generation.

Residual fuel oil:these are fuels obtained as liquid still bottoms from the distillation of crude used alone or in blends with heavy

liquids from other refinery process operations. It is used for the generation of electric power, space heating, vessel bunkering and

various industrial purposes.

Output of refined products:the total amount of petroleum products produced from refinery input in a given period, excluding refin-

ery fuels.

Consumption of refined products:inland delivery, including refinery fuels and losses, as well as products from gas plants; exclud-

ing bunkers. Exports of refined products:includes products from gas plants and excludes bunkers.

OPEC Basket: the OPEC Reference Basket price - which was introduced on January 1, 1987 - is the arithmetic average of seven

selected crudes. These are: Saharan Blend (Algeria); Minas (Indonesia); Bonny Light (Nigeria); Arab Light (Saudi Arabia); Dubai

(United Arab Emirates), Tia Juana Light (Venezuela), and Isthmus (Mexico). Mexico is not a Member of OPEC.

Posted price:announced price reflecting the market development of crude oil and products.

Composite barrel:the composite barrel is a consumption weighted average of final consumer prices (including taxes) of the main

groups of refined petroleum products.

Geneva I Agreement:Agreement of January 20, 1972, between certain OPEC Member Countries and international oil companies

introducing adjustments to posted prices to take account of the world currency situation. For its calculations, the Geneva I Agreement

used the national currencies of Belgium, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland and the United Kingdom.

Country groupings

(OPEC Member Countries are shown in bold) North America:Canada, Greenland, St Pierre and Miquelon, United States.

Latin America:Antigua, Argentina, Bahamas, Barbados, Belize, Bermuda, Bolivia, Brazil, British Virgin Islands, Cayman Islands, Chile,

Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Falkland Islands (Malvinas), French Guiana,

Grenada, Guadeloupe, Guatemala, Guyana, Haiti, Honduras, Jamaica, Martinique, Mexico, Montserrat, Netherlands Antilles,

Nicaragua, Panama (including Panama Canal Zone), Paraguay, Peru, Puerto Rico, St Kitts-Nevis-Anguilla, St Lucia, St Vincent, Surinam,

Trinidad & Tobago, Turks and Caicos Islands, United States Virgin Islands, Uruguay, Venezuela.

Eastern Europe:Albania, Bulgaria, former Czechoslovakia, Hungary, Poland, Romania, former Union of Soviet Socialist Republics

(Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kirgizstan, Latvia, Lithuania, Moldova, Russia, Tajikistan, Turkmenistan,

Ukraine, Uzbekistan).

Western Europe:Austria, Belgium (including Luxembourg), Cyprus, Denmark (including Faroe Islands), Finland, France (including

Andorra and Monaco), Germany (Federal Republic of), Gibraltar, Greece, Iceland, Ireland, Italy (including San Marino and Vatican

City State (Holy See)), Malta, Netherlands, Norway (including Svalbard and Jan Mayen Islands), Portugal, Spain (including Canary

Islands), Sweden, Switzerland (including Liechtenstein), Turkey, United Kingdom, former Yugoslavia.quotesdbs_dbs42.pdfusesText_42

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