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With oil prices low, early signs of a pullback in drilling activity

Green Car Congress

NOVEMBER 14, 2014

With oil prices low and showing no sign of an immediate rebound, the industry is beginning to pull back on spending. For example, ExxonMobil and Chevron have been insulated in the third quarter because of their large holdings in refining. Yet, many oil majors are relatively diversified, with large holdings downstream.

Oil Prices 268
Oil Prices Oil Price Chevron 268
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Opinion: Why oil prices must go up

Green Car Congress

FEBRUARY 19, 2015

The industry did not log a single “giant” oil field. Capital expenditures increased by almost threefold to $700 billion between 2000 and 2013, while output only increased 17% ( see IEA chart ). Chevron reported 89% and Shell posted just a 26% reserve replacement figure.

Oil Prices 150
Oil Prices Oil Price Iraq 150
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