• BIST 96.121
  • Altın 242,203
  • Dolar 6,2046
  • Euro 7,2854
  • İstanbul 21 °C
  • Ankara 13 °C

Less money for new projects

Less money for new projects
There will be less money spent on new projects to raise oil production around the world.

There will be less money spent on new projects to raise oil production around the world.

The drop in crude prices is threatening investment needed to boost global oil production, Total SA Chief Executive Christophe de Margerie said today.

"Lots of smaller companies who are having problems raising funds can't invest,'' he told a stock market conference in Paris. There will be less money spent on new projects to raise oil production around the world, he said. Safety issues for oil workers in Iraq and Nigeria are also a barrier to raising output, he said. De Margerie dismissed as "false'' any suggestion that a project with Saudi Aramco for the Jubail refinery has been delayed or canceled.

Crude prices will rise in the long term

"We are in talks with contractors and we have told them they have to lower costs,'' he said.

In the long term, de Margerie said crude prices will rise, making investment worthwhile in projects such as the Shtokman field in Russia and Canadian oilsands.

www.TurkishMaritime.com.tr

This news is a total 744 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
  • MOL Launches Sunflower Kirishima20 September 2018 Thursday 10:30
  • GE Shipping Adds VLGC Jag Vasant to its Fleet20 September 2018 Thursday 10:00
  • Gulf Marine Services Bags MENA Contract20 September 2018 Thursday 09:30
  • Georgia Ports Authority Approves $92 Million Rail Expansion20 September 2018 Thursday 09:00
  • Ferry Burns and Sinks off Sulawesi19 September 2018 Wednesday 13:3
  • SENER-design LNG unit for Panfido19 September 2018 Wednesday 13:0
  • BSM Launches a Offshore Division19 September 2018 Wednesday 12:3
  • UK Aircraft Carrier Dodges Hurricane Florence19 September 2018 Wednesday 12:0
  • Boat Built with Recycled Plastic to Highlight Pollution19 September 2018 Wednesday 11:3
  • The USD1trln African Maritime Industry Mulls Further Growth19 September 2018 Wednesday 11:0
  • All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
    Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |