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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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OPEC: Rocky oil investments suffer from low productivity and cost inflation

rocky
rocky
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Join date : 2012-12-21

 OPEC: Rocky oil investments suffer from low productivity and cost inflation Empty OPEC: Rocky oil investments suffer from low productivity and cost inflation

Post by rocky Mon 02 Oct 2017, 3:24 am

[size=30]OPEC: Rocky oil investments suffer from low productivity and cost inflation[/size]
02/10/2017 09:04 | Number of readings:
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Trend Press / Geneva
 
[rtl]The Organization of the Petroleum Exporting Countries (OPEC) has confirmed that US rocky oil investments, which have been a source of a significant share of supply growth over the past three years, are currently experiencing a period of slow production of wells, accelerated cost inflation, slower growth of drilling rigs, and increased restrictions and difficulties in accessing Capital markets.[/rtl]
[rtl]A recent OPEC report on the outcome of the fifth meeting of the Ministerial Committee on Monitoring and Evaluation of the Production Cut Agreement, seen by Trend Press, said on Monday that the final investment decisions on oil companies' projects have significantly decreased to below historical averages, Significantly affect the future growth of the oil supply.[/rtl]
[rtl]The report referred to the active and good participation of Nigeria and Libya in the last meeting of the Committee for the Control of Production Reduction at its fifth meeting in Vienna, where the plans for reviving the production of oil in the international countries exempted from the reduction of production, which are currently consultations and contacts for the integration of the agreement, On the prospects and challenges and study the restrictions imposed on all producing countries to limit their exceeding the limits agreed upon in the levels of oil production.[/rtl]
[rtl]Once production levels are stabilized in Libya and Nigeria, they should engage in cooperation with other producing countries to contribute to market stability, the report said.[/rtl]
[rtl]The report quoted Kuwaiti Oil Minister Essam al-Marzouq as saying that everyone is looking forward to the day when investments are strong and back to health levels, which will make the world economy stronger and more developed.[/rtl]
[rtl]The report underscored the need to deepen long-term partnership and strengthen the ongoing cooperation between OPEC countries and non-OPEC producer partners, making it much easier to reach common goals and benefit the industry and the global economy as a whole.[/rtl]
[rtl]The report pointed out that the market indices are positive, especially with regard to demand, pointing out that previous estimates indicate that the levels of growth in demand for crude closer to stability at the level of about 1.3 million barrels per day in both 2017 and 2018, but the picture has changed according to the reality of the market where The Organization of the Petroleum Exporting Countries (OPEC) has seen a significant increase in global demand for oil by about 2 million barrels per day this year and early next year.[/rtl]
[rtl]The expected growth in demand will contribute to further reductions in the level of commercial oil stocks and accelerate market balance and further support from high levels of compliance and commitment to collective production cuts by OPEC producers and their partners from other independent producers led by Russia.[/rtl]
[rtl]In a related context, OPEC is due to submit its forthcoming World Oil Outlook report on the outlook for the world oil market at a press conference at its headquarters in Vienna on November 7.[/rtl]
[rtl]The report, which is expected by the world's financial and oil circles, will present OPEC Secretary-General Mohammed Barkindo and a number of his aides and provide an in-depth review and analysis of the global oil industry and provide a comprehensive assessment of the international and long-term supply and demand situation in the oil market.[/rtl]
[rtl]This report is published for the third time in a row. This report was first published in 2007 and provides a thorough and profound analysis of the many challenges and opportunities facing the global sector.[/rtl]
[rtl]The report is an important reference tool that provides insights into the status of upstream and downstream projects, as well as issues related to costs and investments and the potential impact of new policies and technologies, together with the Annual Statistical Bulletin, one of OPEC's annual flagship publications. Ending / 25[/rtl]


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