09-22-2016, 10:45 PM
The two-year downturn in the oil and gas industry may be coming to a close. An annual survey released by Deloitte, shows approximately 59% of O&G professionals believe the recovery already has begun or will begin in 2017. While the current state of the market still leaves cost-containment initiatives a priority, executives nonetheless showed renewed confidence in an industry recovery. Those who responded pointed to expectations of rising prices, a return to increasing capital expenditures and headcount as drivers of their optimistic outlook.
Oil execs see 2017 as a year of recovery, Deloitte survey finds
Since November, when 195 countries signed the Paris climate change agreement, several energy writers, including myself, have concluded that the deal’s biggest winner would be natural gas.
What Is Stopping Global LNG Growth? | OilPrice.com
Petroleos de Venezuela is getting ready to start what it’s dubbed “one of the world’s largest drilling projects” in the Orinoco heavy crude belt with investment totaling $3.2 billion even as its president, Eulogio Del Pino, says the global oil market is oversupplied.
PDVSA set to start $3.2-billion drilling program
BP Plc would rather invest in Argentina’s shale oil fields than in Texas’ Permian basin, the U.S. drilling hot spot, CEO Bob Dudley said. BP is seeking to buy more assets in Argentina’s Vaca Muerta shale fields, which have "enormous potential," Dudley said in a Bloomberg Television interview Tuesday on the sidelines of the Argentina Business and Investment Forum in Buenos Aires. He said the government there has improved the investment appeal of the country by helping foreign companies cut through red tape.