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Total: World oil output to reach 95 million b/d by 2020

06/16/2008
Worldwide oil production will stabilize at about 95 million b/d before 2020, including extra heavy crude from Venezuela and Canada, said Total SA Chief Executive Officer Christophe de Margerie based on a long-term, internal company oil study, just released.Energy savings and efficiency are therefore “absolutely necessary” to limit an ever-increasing demand pulled along by emerging countries and transport with an ever stronger focus on light products, the study said.A further 5 million b/d might be added with products processed from biofuels, gas-to-liquids and coal-to-liquids, condensates, LPG, and the addition of refining gains, raising to 100 million b/d the overall oil supp...
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