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. Oil prices have dropped around 30 percent since summer highs, raising fears among producers across the globe. Yet, many oil majors are relatively diversified, with large holdings downstream.
Green Car Congress
MARCH 13, 2016
Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices.
Green Car Congress
JULY 22, 2015
With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran’s crude oil supply would further contribute to the already rising global supply glut. oil sector is likely to witness a lot more layoffs than we have seen so far?
Green Car Congress
MARCH 3, 2017
The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead. The collapse of oil prices forced the majors to slash spending on exploration, cut employees, defer projects, and look for efficiencies. per barrel.
Green Car Congress
DECEMBER 4, 2016
BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Oil production is expected to begin in late 2021. Today, the leaner $9-billion project, which also includes capacity for water injection, is projected to be profitable at or below current oil prices.
Green Car Congress
FEBRUARY 3, 2015
The Anglo-Dutch company failed to achieve permits on time, had its drill ships run aground , and saw its oil spill containment dome “crushed like a beer can” during testing. However, the first month of 2015 has darkened Arctic dreams even further. In December, Chevron suspended its drilling plans in Canada’s Arctic indefinitely.
Green Car Congress
APRIL 1, 2015
The question today is just how much Argentina is willing to change and how this plays into a low oil price environment that is already negatively impacting investment elsewhere. Argentina’s shale fields are currently producing 41,000 barrels of oil equivalent per day from 320 wells. Oil prices are set at $77.50
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