OPEC's monumental decision and the fall-out

[admin]

Producers including Suncor Energy Inc. (SU) and Canadian Natural Resources Ltd. (CNQ), which each fell the most in at least three years yesterday, operate in one of the most expensive places on earth to produce oil. If crude prices continue sinking following OPEC’s decision not to cut global oil supplies, Canada’s producers big and small will have to tighten their belts to prepare for declining profits.

Alberta Producers With World’s Cheapest Oil Face Cascading Woes - Bloomberg

And buying TNK-BP has left Sechin, Rosneft’s chief executive officer and a long-time ally of Russian President Vladimir Putin, with a lot of debt to repay. State-controlled Rosneft owes about $60 billion to banks and bondholders, making it more indebted relative to earnings than any large oil producer apart from Brazil’s Petroleo Brasileiro SA.

Russia’s Oil Giant Battles Debt After $55 Billion Deal - Bloomberg