MOST OPEC NATIONS LOG OUTPUT GAINS IN 1990

Total crude oil production by the members of the Organization of Petroleum Exporting Countries rose to 23.26 million b/d in 1990 from 21.34 million b/d in 1989, despite the lost production from Iraq and Kuwait during the second half.

Those two were the only OPEC members not recording production increases for the year.

According to the annual statistical bulletin issued by the OPEC secretariat late last month, the value of total OPEC petroleum exports also jumped markedly, to $147.44 billion from $114.28 billion in 1989.

This enabled the organization to end the year with an estimated current account surplus of $13.77 billion, compared with the 1989 surplus of $4.34 billion.

PRODUCTION

The production increases were: Algeria 727,300 b/d to 788,500 b/d, Ecuador 278,900 b/d to 286,100 b/d,

Gabon 204,300 b/d to 269,,300 b/d, Indonesia 1.23 million b/d to 1.28 million b/d, Iran 2.81 million b/d to 3.18 million b/d, Libya 1.13 million b/d to 1.39 million b/d, Nigeria 1.72 million b/d to 1.73 million b/d, Qatar 320,200 b/d to 405,600 b/d, Saudi Arabia 5.06 million b/d to 6.43 million b/d, United Arab Emirates 1.86 million b/d to 2.06 million b/d, and Venezuela 1.75 million b/d to 2.13 million b/d.

Of the declines, Iraq's production fell to 2.12 million b/d from 2.78 million b/d in 1989 to 2.12 million b/d last year, while Kuwait saw output drop to 1.18 million b/d from 1.46 million b/d.

OPEC's secretariat estimated total world crude oil production, including the former centrally planned economies, rose to 60.38 million b/d in 1990 from 58.97 million b/d in 1989.

Oil & Gas Journal estimated world crude output rose 1.4% to 60.317 million b/d in 1990.

Total OPEC natural gas production rose 5% in 1990 to 425.03 billion cu m.

Among OPEC member countries, gas production in Algeria, the organization's largest producer, was up by 5.8% to 126.61 billion cu m, Indonesia by 9.4% to 61-21 billion cu m, Saudi Arabia by 6% to 49.3 billion cu m, and Iran by 7.1 % to 46.5 billion cu m.

EXPORTS

OPEC's total crude oil exports in 1990 climbed to 16.66 million b/d from 15.22 million b/d in 1989. Ten OPEC countries increased crude oil exports and three registered declines.

Compared with 1989, net export increases were: Algeria 100 b/d, Gabon 66,700 b/d, Indonesia 9,000 b/d, Iran 52,000 b/d, Libya 148,000 b/d, Nigeria 24,100 b/d, Qatar 27,800 b/d, Saudi Arabia 1.51 million b/d, U.A.E. 215,000 b/d, and Venezuela 255,600 b/d.

Net exports fell in Ecuador 2,500 b/d, Iraq 664,000 b/d, and Kuwait 205,000 b/d.

OPEC's share of world crude oil exports jumped to 61.3% in 1990 from 59.1% in 1989. In the same comparison, its share of world oil production increased to 38.5% from 36.2%.

RESERVES, DRILLING

OPEC member countries last year increased their proven crude oil reserves by 1.97 billion bbl, maintaining the organization's share of the world total at 76.7%, the secretariat reported.

Of world proven crude oil reserves of 1.01 trillion bbl in 1990, OPEC held 776.03 billion bbl.

Nigeria posted the biggest year to year increase in reserves in OPEC in 1990, from 16 billion bbl in 1989 to 17.1 billion bbl last year. Increases were also recorded in Libya (22.8 billion bbl to 22.93 billion bbl) and Venezuela (59.04 billion bbl to 60.05 billion bbl).

Of the world's total proven natural gas reserves of 130.92 trillion standard cu m in 1990, OPEC's share accounted for 49.51 trillion cu m, or 37.8%, compared with 49.97 trillion cu m, or 38.4%, in 1989.

Within OPEC, Iran had the biggest gas reserves of 17.01 trillion cu m, followed by U.A.E. 5.62 trillion cu m, Saudi Arabia 5.18 trillion cu m, and Qatar 4.44 trillion cu m.

A total of 1,657 wells was completed in OPEC member countries in 1990, compared with 1,461 the previous year, with active rigs averaging 217 vs. 216 in 1989. The number of producing oil wells within the organization rose from 27,923 to 28,253.

REFINING, TANKERS

OPEC's total refining capacity soared from 6.93 million b/d in 1989 to 8.54 million b/d last year, even with the loss of Kuwaiti and Iraqi capacity.

Venezuela's refining capacity increased from 1.17 million b/d to 2.47 million b/d, followed by Saudi Arabia's climb from 1.42 million b/d to 1.76 million b/d.

OPEC's share of the world tanker fleet slipped from 6.5% in 1989 to 6.1% last year with member states controlling 159 vessels totaling 15.67 million dwt compared with 164 vessels and 16.34 million dwt in 1989.

Eight of the member countries ended the year with budget surpluses: Algeria $800 million, Gabon $50 million, Kuwait $4.55 billion, Libya $1 billion, Nigeria $3 billion, Qatar $400 million, U.A.E. $3 billion, and Venezuela $7.4 billion.

Of the countries in deficit, Saudi Arabia was the most seriously affected with $2.5 billion, followed by Indonesia with a $2.4 billion budget deficit.

Copyright 1991 Oil & Gas Journal. All Rights Reserved.