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Barrels in sentence

186 examples of Barrels in a sentence

At 8.8 million barrels per day, US oil production is now higher than that of Iraq and Iran combined.
In the last two years, more than 1.7 billion barrels of oil have been discovered in the Lokichar basin.
Estimates vary widely, but there could be up to 20 billion barrels – a volume that would make Kenya one of Africa’s most resource-rich countries, second only to Nigeria, which has 37 billion barrels of proven reserves.
Nearby, Uganda has discovered 3.5 billion barrels, and Tanzania has found vast reserves of natural gas.
Four billion barrels of oil were discovered off Ghana’s coast in 2007, and production began in 2010.
With growth in non-traditional sources of energy – particularly the “shale revolution,” which drove a near-doubling in US production, to almost ten million barrels per day, in just four years – the Saudi-led OPEC oil cartel has less influence on market prices.
Argentina certainly has massive reserves still to be exploited: an estimated 19.9 billion barrels of crude oil and 583 trillion cubic feet of gas, concentrated in the Vaca Muerta shale formation.
Hydrocarbon reserves in Africa are estimated at 80-200 billion barrels.
According to OPEC’s monthly report, oil production has declined by 27% (equivalent to 520,000 barrels per day) in the 12 months to April of 2018.
Angola, which currently exports 25% of its oil production to China, was granted a $2 billion loan in exchange for a contract to supply China 10,000 barrels of oil per day.
The US Department of Energy estimates that such methods could make 67 billion barrels of oil – three times the volume of proven US oil reserves – economically recoverable.
To be sure, growth remains uneven and shaky, and mostly reflects the growth of oil output, which has attained its pre-sanctions level of nearly four million barrels a day.
Oil started to flow through the pipeline in July 2003, 16 months ahead of schedule, with the flow peaking at 225,000 barrels per day by the end of that year.
One estimate puts the cumulative spills over the past 50 years at approximately 10 million barrels – twice the size of the BP spill.
The United States Geological Survey has estimated that the Levant Basin, which extends across the Israeli, Cypriot, and Lebanese seabed, contains some 3.45 trillion cubic meters of recoverable natural gas and 1.7 billion barrels of oil.
And several strategically crucial oil-processing facilities are within range of Iranian missiles and special forces, including the Saudi oil-stabilization facility at Abqaiq, which processes seven million barrels daily.
Given that Americans consume roughly 18.5 million barrels of oil daily, a mere $8 increase in the price per barrel would sap $1 billion per week from the US economy, jeopardizing its already-fragile recovery.
Royal Dutch Shell’s joint venture with the government produces half of the country’s daily output of 2.5 million barrels.
That field will pump 225,000 barrels per day when it begins production in 2008.
It is becoming more difficult for Iran (whose economy depends to a large extent on oil exports of more than two million barrels a day) to find customers – and especially customers willing to pay full price.
We must call a halt in the days (if not hours) ahead to the rain of steel, the cluster and phosphorus bombs, and the barrels of chlorine dropped from low-flying government helicopters on the last parts of Aleppo held by moderate rebels.
Because the world burns 34 billion barrels of oil every year, a $10 fall in the price of oil shifts $340 billion from oil producers to consumers.
Once sanctions are lifted, Iran promises to double oil exports almost immediately to two million barrels daily, and then to double exports again by the end of the decade.
To do this, Iran would have to boost its total output (including domestic consumption) to six million barrels per day, roughly equal to its peak production in the 1970s.
Saudi Arabia, the source of one in nine barrels of oil consumed globally, is not just a linchpin of the global economy; its government’s stability is crucial to the international order.
Thanks to the shale-energy revolution, American oil production has risen from five million barrels per day in 2008 to 9.3 million barrels in 2015, a supply boom that has so far persisted, despite the price collapse.
More than 80 million barrels are produced (and consumed) daily, and a large part of that output is traded internationally.
To the average Russian, the country’s economy seems to be structured around exchanging barrels of oil for cars and smartphones.
The trouble, of course, is that as oil prices have plunged, those barrels buy ever fewer imports.
Iranian oil exports have plummeted since 2011, from approximately 2.5 million barrels per day to around 1.3 million, owing in part to a total ban on oil exports to the EU and significant reductions by China, Japan, India, and South Africa.
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