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2014-09-08 18:30:00

SHELL: DOUBLING OIL & GAS DEMAND

SHELL: DOUBLING OIL & GAS DEMAND

The bulk of doubling energy demand between 2000 and 2050 is predicted to be met by oil and gas according to Royal Dutch Shell plc. The company's upstream director Andy Brown said a need for investment and prices will be driven by rising global energy demand.

"We are expecting renewables to take a larger share but by 2050, the vast majority of energy demand would be met by oil and gas," Brown said at a media roundtable.

On the recent news of Brent oil prices staying at around US $100 per barrel, Brown commented that that provides for ample opportunities for continuous investment in the sector.

He, however, cautioned that costs needed to be kept down to ensure ample returns to shareholders.

"We should be flexible with the oil prices but at the same time we need to drive costs down (more so) if the oil price becomes weak.

"Costs are always a challenge and we have to manage costs as well," he added.

arabianoilandgas.com

Tags: SHELL, OIL, GAS

Chronicle:

SHELL: DOUBLING OIL & GAS DEMAND
2018, June, 18, 14:00:00

U.S. IS BETTER

IMF - Within the next few years, the U.S. economy is expected to enter its longest expansion in recorded history. The Tax Cuts and Jobs Act and the approved increase in spending are providing a significant boost to the economy. We forecast growth of close to 3 percent this year but falling from that level over the medium-term. In my discussions with Secretary Mnuchin he was clear that he regards our medium-term outlook as too pessimistic. Frankly, I hope he is right. That would be good for both the U.S. and the world economy.

SHELL: DOUBLING OIL & GAS DEMAND
2018, June, 18, 13:55:00

U.S. ECONOMY UP

IMF - The near-term outlook for the U.S. economy is one of strong growth and job creation. Unemployment is already near levels not seen since the late 1960s and growth is set to accelerate, aided by a near-term fiscal stimulus, a welcome recovery of private investment, and supportive financial conditions. These positive outturns have supported, and been reinforced by, a favorable external environment with a broad-based pick up in global activity. Next year, the U.S. economy is expected to mark the longest expansion in its recorded history. The balance of evidence suggests that the U.S. economy is beyond full employment.

SHELL: DOUBLING OIL & GAS DEMAND
2018, June, 18, 13:50:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

U.S. FRB - Industrial production edged down 0.1 percent in May after rising 0.9 percent in April. Manufacturing production fell 0.7 percent in May, largely because truck assemblies were disrupted by a major fire at a parts supplier. Excluding motor vehicles and parts, factory output moved down 0.2 percent. The index for mining rose 1.8 percent, its fourth consecutive month of growth; the output of utilities moved up 1.1 percent. At 107.3 percent of its 2012 average, total industrial production was 3.5 percent higher in May than it was a year earlier. Capacity utilization for the industrial sector decreased 0.2 percentage point in May to 77.9 percent, a rate that is 1.9 percentage points below its long-run (1972–2017) average.

SHELL: DOUBLING OIL & GAS DEMAND
2018, June, 18, 13:45:00

SOUTH AFRICA: NO BENEFITS

IMF - South Africa’s potential is significant, yet growth over the past five years has not benefitted from the global recovery. The economy is globally positioned, sophisticated, and diversified, and several sectors—agribusiness, mining, manufacturing, and services—have capacity for expansion. Combined with strong institutions and a young workforce, opportunities are vast. However, several constraints have held growth back. Policy uncertainty and a regulatory environment not conducive to private investment have resulted in GDP growth rates that have not kept up with those of population growth, reducing income per capita, and hurting disproportionately the poor.

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