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Category: Investments

Report: $930B in Future Oil, Gas Investments at Risk from Low Oil Prices

December 17, 2014 Posted by Chris Wysong

Goldman Sachs is reporting that up to $930 billion in future investments could be cancelled. Karen Boman of RIGZONE explains. Report: $930B in Future Oil, Gas Investments at Risk from Low Oil Prices By: Karen Boman (Rigzone) Future oil and gas investments of $930 billion could be at risk of cancellation due to low oil prices, according to analysts at Goldman Sachs. In its Top 400 analysis of the worlds largest new oil and gas fields, Goldman Sachs found that pre-sanction fields that are uneconomic at $70/barrel Brent crude represent 2.3 million barrels per day (bpd) of 2020 production and 7.5 million bpd of 2025 production, or three percent and eight percent of current global oil demand. These future investments include shale developments, where the concept of pre-sanction/post-sanction is more blurred, according to the Dec. 15 research note. In order to bring these projects back into profitable territory at $70/barrel Brent, costs would need to come down by 20 percent to 30 percent,

Posted in Oil, Investments
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