Sector outlook 2008: Energy
- Published: 04 January 2008 17:11
- Author:Perry Williams | More by this Author
- Last Updated: 09 June 2008 13:48
The drive to push through previously uneconomic projects will continue while oil prices remain high.
With oil prices averaging about $72 a barrel in 2007, national oil companies (NOCs) in the region are flush with cash. From oil powerhouses, such as Saudi Aramco, through to emerging gas-focused exploration giants, such as Algeria's Sonatrach and Libya's National Oil Corporation, the drive to push through previously uneconomic projects while prices remain high will continue in 2008.
The drive to push through previously uneconomic projects will continue while oil prices remain high.
With oil prices averaging about $72 a barrel in 2007, national oil companies (NOCs) in the region are flush with cash. From oil powerhouses, such as Saudi Aramco, through to emerging gas-focused exploration giants, such as Algeria's Sonatrach and Libya's National Oil Corporation, the drive to push through previously uneconomic projects while prices remain high will continue in 2008.
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