Projects need to be run efficiently, now more so than ever before, so oil companies need to be proactive in making interventions if projects are unlikely to deliver an IRR that the project sponsors had planned for. Where projects are facing cost overruns, partners should agree to either re-scope, defer expenditure or (if the contracts allow) stop or delay production until the market has recalibrated itself. Lower costs need to be achieved so operations which are too expensive may need to be aborted or remodelled. Delaying final investment decisions on development projects or shutting in production on producing assets may have the benefit of reducing costs without reducing ownership interests in assets which could be profitable in the future when oil prices increase or other production costs decline. … [Read more...] about Preparing for and Adapting to Lower Oil Prices: Reducing Risk, Mitigation Loss and Capitalizing on Opportunities in Today’s Market
Brent crude oil price live
We want low oil prices. And Saudi Arabia has really done a good job in that respect. They pumped out a lot more oil than was going to be pumped out, when I called them about four weeks ago. And if you look at oil four weeks ago, it was at 82, 83, and was going up to a 100 a barrel. That would have doubled your prices and even tripled your prices at the car, for gasoline. And instead, you have very low gas prices all over the country. That’s because of what I did, and Saudi Arabia helped us. … [Read more...] about Fact Check: Is Trump Responsible for Falling Gasoline Prices?
The news came after U.S. Vice President Mike Pence on Friday decided to call off a planned China speech, which also increased optimism on upcoming trade talks with Beijing. Pence had upset China with a fierce speech in October in which he laid out a litany of complaints ranging from state surveillance to human-rights abuses. … [Read more...] about Asian stocks subdued, oil rises on U.S.-Iran tensions
Maris Ogg, at Tower Bridge Advisors, said the strong run up in share prices in the past few days, and the bull market of the last 18 months — which hit its peak in late January — mean the market retreat on inflation concerns is “pretty understandable.” … [Read more...] about Renewed inflation fears send US stocks tumbling
"The NAFTA agreement is clearly a positive to the extent that it reduces the risk of a generalized global trade war," JPMorgan analysts said in a note, though they cautioned it was not automatically positive for the outcome of talks with China. … [Read more...] about Asian shares gain on U.S.-Mexico trade optimism