• 5 minutes Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 9 minutes Sell out now or hold on?
  • 16 minutes Oil prices going down
  • 16 mins Oil prices going down
  • 7 hours When will oil demand start declining due to EVs?
  • 19 hours Two Koreas Agree To March Together At Asian Games
  • 7 hours Oil and Trade War
  • 9 hours Russia and Saudi Arabia to have a chat on oil during FIFA World Cup - report
  • 9 hours Sell out now or hold on?
  • 7 hours venezuala oil crisis
  • 6 hours Trump Hits China With Tariffs On $50 Billion Of Goods
  • 11 hours Correlation Between Oil Sweet Spots and Real Estate Hot Spots
  • 6 hours Germany Orders Daimler to Recall 774,000 Diesel Cars in Europe
  • 10 hours Malaysia's Petronas vs. Sarawak Court Case - Will It End Up In London Courts?
  • 4 hours What If Canada Had Wind and Not Oilsands?
  • 20 hours Geopolitical and Political Risks make their strong comeback to global oil and gas markets
  • 3 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 17 hours Trump Renews Attack On OPEC Ahead Of Group's Production Meeting
  • 5 hours After Three Decade Macedonia End Dispute With Greece, new name: the Republic of Northern Macedonia
Alt Text

Where Will U.S. Frackers Drill Next?

With oil prices having stayed…

Alt Text

Venezuela Forced To Shut Down Production As Operations Fall Apart

Venezuela’s economic, social and political…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Oil In Global South Under The Gun

Oil and gas companies are paring back investments and slashing jobs, which is taking an enormous toll on oil-producing regions, particularly in North America.

But it is not just the north that is suffering. The Global South is also seeing investment dollars dry up as international exploration companies cut drilling plans, and in some cases, even cancel in-country plans all together. In fact, in many countries in Africa and South America with a burgeoning oil and gas sector, regulatory rules are a bit of a moving target. Worse yet, the necessary infrastructure – oil and gas pipelines, processing stations, even roads – are still developing, making drilling operations more difficult relative to well-trodden areas in North America.

Moreover, 2015 will likely be an historic year for the global oil and gas industry. Tens of thousands of jobs are starting to disappear and capital investment plans are being dramatically scaled back. That makes frontier areas for the industry – Africa and parts of South America in particular – first in line for cutbacks.

Take East Africa. The leading international oil and gas company in the region is Tullow Oil PLC (LON: TLW), which had a rough 2014. It blew some serious money drilling multiple wells in different parts of Africa, only to see them come up dry. In April 2014, Tullow drilled a deepwater well off the coast of Mauritania, which failed to find any oil or gas. That led to a $415 million write down…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News