The big oil companies in the world are cutting costs and added projects for 200 billion dollars on the shelf, according to the Financial Times, referring to a recent report by Wood Mackenzie.
Altogether 46 major oil and gas projects totaling 20 billion boe put on hold. It’s more than Mexico’s total reserve, the newspaper said.
Among the companies that have made exploration and production projects on the shelf is BP, Anglo-Dutch Royal Dutch Shell, US-based Chevron, Statoil and Australian Woodside Petroleum.
Analyses from Rystad Energy in May showed that projects for 118 billion dollars had been shelved, while the new Wood Mackenzie thus shows a much higher number.
More than half of reserves that are now shelved located at great depths that are both demanding technological, costly and risky. In addition, the analysis shows that Finacial Times points out that Canada has set oljesanprosjekter with reserves of 5.6 billion barrels at the end.
In the report released today writes Wood Mackenzie, according to FT.com, also projects that drops through the cracks this year probably can be counted on one hand.
Light Oil in New York is down 8 cents to $ 48.06 Monday morning.
Brent is up 7 cents to 54 , $ 69.
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