Declining oil production hits lowest level since 1970

摘要

Maintenance, field redevelopments, mild weather, weak demand and floods, culminated in Australian petroleum production falling by 6% in the 2011 calendar year, according to energy economics group EnergyQuest. The report shows that production of oil, LPG, condensate and natural gas fell to 488 million barrels of oil equivalent in 2011, down from 519 mmboe in 2010 and the lowest level since 2008.