Deepwater struggles to make its case
The oil price recovery has not yet translated into a rush of cash into challenging offshore environments
The world's largest listed oil and gas firms are continuing to stress their financial discipline, continuing to shower their more buoyant cashflows onto shareholders through dividends and buy-backs, continuing to boost acreage in the US shale basins and continuing to invest in renewable technologies. What they are not rushing to do, though, is to make a splurge of investments in offshore deepwater projects, despite a consensus view that the global oil market needs investment in new barrels to avoid a supply shock sometime before the middle of the next decade. At Gulfquest's MCE deepwater development (MCEDD) conference in London in April, a panel of respected industry watchers tried to make s
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth