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What are the crude oil production costs in various countries?
Release time:
2016-01-27
Source:
Overseas Mining Investment Network, Date: 2016-01-25
The recent plunge in oil prices has put significant pressure on many energy-producing companies and countries. Below are the costs incurred by the world’s 20 major oil-producing nations for every barrel of crude oil produced.
United Kingdom: $52.50
Brazil: $48.80
Canada: $41.00
United States: $36.20
Norway: $36.10
Angola: $35.40
Colombia: $35.30
Nigeria: $31.60
China: $29.90
Mexico: $29.10
Kazakhstan: $27.80
Libya: $23.80
Venezuela: $23.50
Algeria: $20.40
Russia: $17.20
Iran: $12.60
United Arab Emirates: $12.30
Iraq: $10.70
Venezuela: $9.90
Saudi Arabia: $8.50
The following analysis utilizes data from 15,000 oil wells across 20 countries. Production costs include both capital expenditures and operating costs. Capital expenditures encompass spending on oil facilities, pipelines, and the construction of new wells. Transportation costs cover oil extraction, employee salaries, and administrative expenses.
|
Country |
Capital expenditure |
Transportation costs |
|
United Kingdom |
$21.80 |
$30.70 |
|
Brazil |
$17.30 |
$31.50 |
|
Canada |
$18.70 |
$22.40 |
|
United States |
$21.50 |
$14.80 |
|
Norway |
$24.00 |
$12.10 |
|
Angola |
$18.80 |
$16.60 |
|
Colombia |
$15.50 |
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