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2015-09-21 19:00:00

LOW OIL PRICES: $1.5 TN

LOW OIL PRICES: $1.5 TN

Plunging oil prices have rendered more than a trillion dollars of future spending on energy projects uneconomic, according to a study that suggests that the impact on industry operators is worsening.

A report published Monday says $1.5tn of potential investment globally — including in North America's shale-producing heartlands — is "out of the money" at current oil prices close to $50 a barrel and unlikely to go ahead.

Industry operators expect capital spending on new projects to decline by between 20 and 30 per cent on average in the wake of the price slide, says Wood Mackenzie, the energy consultancy. It calculates…

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Tags: OIL, PRICES

Chronicle:

LOW OIL PRICES: $1.5 TN
2019, April, 19, 09:15:00

S.KOREA RENEWABLE ENERGY

South Korea's economy has been pushing to shed its heavy reliance on coal and nuclear power, with the latest target coming on top of a 2017 plan to increase the amount of renewables in its energy mix to 20 percent by 2030.

LOW OIL PRICES: $1.5 TN
2019, April, 19, 09:10:00

UAE GDP WILL UP 4.7%

The International Monetary Fund (IMF), has forecast the UAE’s nominal Gross Domestic Product (GDP) to grow 4.7 percent to AED1.673 trillion in 2019, compared to AED1.589 trillion a year ago.

LOW OIL PRICES: $1.5 TN
2019, April, 19, 09:05:00

U.S. TRADE DEFICIT $49.4 BLN

the goods and services deficit was $49.4 billion in February, down $1.8 billion from $51.1 billion in January,

LOW OIL PRICES: $1.5 TN
2019, April, 19, 09:00:00

U.S. RIGS DOWN 10 TO 1,012

BHGE - U.S. Rig Count is down 10 rigs from last week to 1,012, with oil rigs down 8 to 825, gas rigs down 2 to 187, and miscellaneous rigs unchanged at 0. Canada Rig Count unchanged from last week at 66, with oil rigs up 1 to 19 and gas rigs down 1 to 47.

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