Famous Quotes & Sayings

We are removing two million barrels a day from the market and we will make it clear that this is the first step to another possible reduction,

Over the last 20 years, the size of oil discoveries has fallen off dramatically. We are finding more fields than in the '60s and '70s, but they're much smaller. We're producing three barrels of oil for every one barrel of oil that we find.

Bob Woodward

over the summer, or as we get closer to the election, they could increase production several million barrels a day and the price would drop significantly.

Guy Ritchie

Lock, Stock and Two Smoking Barrels ... Snatch

Let me give you a number that is pretty shocking when you hear it. The world uses 30 billion barrels of oil a year. There is no way we're replacing 30 billion barrels of oil. Just a million barrels a day is 1,000 wells producing 1,000 barrels. That's big.

We want that opportunity, ... We would take that gas and those barrels of crude to market faster.

We were back to normal production six weeks after the hurricane. During that six weeks we distributed a million barrels of on-hand gas and imported another two million barrels for local and regional use.

With the right investment environment and under the right government, Iraq could increase production by a million barrels a day every year for the next 10 years, ... It could be the largest oil exporter in the world, eclipsing Saudi Arabia.

World producers need to bring another 1 1/2 million barrels per day on line every year to meet rising demand. So even a minor supply disruption is going to have a disproportionate impact on oil prices.

The government's offer of barrels from the Strategic Petroleum Reserve has mitigated some of the upward price pressure on crude oil. The problems with gasoline and natural gas may not be helped even if the SPR is tapped. If refineries are offline and can't run the extra oil, it will make no difference.

I mean, I believe very strongly in the fundamental of oil drilling, and the oil drillers are perhaps the most spectacular stocks of this year. They're still up; they were up yesterday, and they're near their all-time highs, and that's because the world uses 200 million barrels of oil more than it drills. The companies that own the equipment to drill are going to be utilized more and the rates are going up.

Oil resources and supplies are plentiful and OPEC has been producing 1.5 million more barrels per day than its quotas in the third quarter of 2005,

Dave Allen

No matter if we're counting days, work-hours or barrels refined, our truest measure of safety is that everyone goes home safely at the end of the day. We are proud of our employees who are dedicated and vigilant when it comes to safety.

The world produces about 85 million barrels a day. That's where demand is now, too. And I've seen forecasts that demand is going to be higher than that by the end of the year.

The warm weather in the U.S. may be cutting demand for oil by 1 million barrels per day.

They are going to have surplus production as the domestic oil consumption is 25,000 barrels a day.

There's less crude being run now through refineries than there is loss in production in the Gulf. We're estimating refinery runs are down about 2 million barrels a day while crude out of the Gulf is down a million and a half.

Iran and Nigeria have got people extremely nervous. There's a concern that around two and a half million barrels per day of Iranian exports could be removed.

If you're talking about a 400,000 barrels per day refinery next to a French Chateau in the Loire valley, the timeline is infinite. If you're looking at an industrialized part that already includes an oil refinery, it's much less of a big deal.

Gary Miller

In the United States, oil demand is projected to grow by 340,000 barrels per day this year and gasoline demand is projected to grow nearly two percent, averaging 9.3 million barrels per day for the summer.

In the wet-barrel market - the real barrels that are stored and traded - there is no shortage of oil. But the paper barrels - the futures market - react like a lightning rod in a volatile market. That's their role.

Instead, we get up to 50 million barrels of oil.

Bill Richardson

In our meetings with oil producing countries, we simply and forcefully made our case that increased production is in the interest in both producing and consuming nations, ... We made the point that the world is consuming 75 million barrels per day, and it is producing 73.

By June we should be looking at modestly another half a million barrels of capacity a day.

The IEA have only predicted losses in refined crude production for September, and the reality is that 4 major US refineries with a total output of 900,000 barrels are still down, and they are expected to be for the next 2-3 months.

The initial question is where is the 2 million barrels going to come from.

Production in the Gulf has yet to recover and the trouble in Nigeria shows no signs of easing. We are missing about 1 million barrels of output.

Our decision is in place, up until now we will still increase by 500,000 barrels a day from August. This decision is still valid.

After each heat, we're able to quickly turn the barrels up and dump the debris, filling them up and setting them down for the next round,

Oil prices are high at $30 a barrel. The U.S. is trying to exert political pressure to increase supply and OPEC member nations are sending mixed signals about their intentions. We have a very volatile market here. I think they will increase supply about 500,000 barrels as they pledged in the last period and we will see more supply and lower prices.

David Robinson

This acquisition represents an exceptional opportunity for us to increase shareholder value. We are starting with around 40 barrels of output a day, but with considerable potential to boost production.

E. B. White

It's not strictly true to say there was only minor damage to refineries. When you sit down you can see about four million barrels per day of refining capacity is down as a result of Rita and Katrina.

They are extracting 500,000 barrels per day, but plan on reaching 2 million barrels in 2008.