The reduction in the price of crude oil to the mid $60s from a high of $147/bbl over such a short period of time has caused many to question its impact, as any drop of close to 50% in its key benchmark must impact any industry.
Following its $1.2 billion award in onshore contracts yesterday, Saipem has won three new offshore contracts for a total amount in excess of US$1.1 billion.
EDITOR’S NOTE: This in-depth article is extracted from an academic paper written by Ighodalo Aimienwanu, who recently completed work on his MBA degree in oil and gas management at the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee in Scotland.
Oil and gas company executives thinking of diversifying their business to include renewable or alternative energy should carefully evaluate their options first.
The nature of bubbles is that they burst. Fears of a global recession have brought oil prices down to levels not seen in a year, and effectively, burst the speculative bubble surrounding oil prices.
Comments by several key Democrats in Congress have hinted they are concerned that the transition to international accounting standards might weaken regulatory control.
Haynes and Boone LLP joins a select number of law firms that will represent the US Department of Energy (DOE) in project finance and other transactions that support the development of alternative sources of energy.
