A Review of 1960 Domestic Production
- Raymond W. Miller (Northern Natural Gas Co.)
- Document ID
- Society of Petroleum Engineers
- Journal of Petroleum Technology
- Publication Date
- April 1961
- Document Type
- Journal Paper
- 319 - 320
- 1961. Original copyright American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc. Copyright has expired.
- 4.2 Pipelines, Flowlines and Risers, 4.6 Natural Gas
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The General Picture
Totaling the score on the oil Industry for 1960 gives a sobering picture. Demands for petroleum products were up 2 per cent for the year. This was on the plus side but was a lot less than industry is accustomed to when contrasted with increases of about 4 per cent for 1959 and 5 per cent per year in the earlier postwar years.
Crude-oil production was about 0.5 per cent below 1959, with an increase of about 7 per cent in the production of natural-gas liquids. Crude-oil stocks were down 9.6 per cent from the previous year, which was the lowest yearend crude-stock figure in more than a decade. On the other hand, gasoline and kerosene stocks were up substantially while distillate and residual fuel oils were a little lower than a year ago.
It is important to note that much of the so-called stocks are actually in pipelines and are working stocks rather than readily available. With the increased use of pipelines for products, a higher per cent of the products are now working stocks. Over-all, at least one-half of the total stocks are not readily available for use.
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