29 Oct '16, 12am

What does the future hold for oil markets?: For the past 37 years I have been involved in the oil...

What does the future hold for oil markets?: For the past 37 years I have been involved in the oil...

What does the future hold for oil markets? For the past 37 years I have been involved in the oil and gas industry, a business as challenging as any in terms of politics, geography, economics and location – the industry is present in every part of the globe and every climate. The past 21 of those years have presented unique challenges and, as always in this industry, seen many changes. In 1995 the North Sea was in its heyday, with major fields still producing and new ones coming on-stream. By 1999 it was producing six million barrels of oil a day, plus gas in the southern basin. A world-class oilfield service business based around Aberdeen flew more specialist helicopters than anywhere in the world, and it also exported its expertise. That expertise is still required worldwide. However, with the price of oil at $27 a barrel at the start of this year, ruthless cost-cutting h...

Full article: http://peakoil.com/production/what-does-the-future-hold-f...

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