• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 3 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 14 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 3 hours Saudi Arabia turns to solar
  • 47 mins Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 57 mins Why is permian oil "locked in" when refineries abound?
  • 7 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 19 hours Gazprom Exports to EU Hit Record
  • 2 hours Teapots Cut U.S. Oil Shipments
  • 20 hours OPEC Meeting Could End Without Decision - Irony Note Added from OPEC Children's Book
  • 2 hours Oil prices going down
  • 3 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 16 hours U.S. Withdraws From U.N. Human Rights Council
  • 13 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 3 hours Putin Says 'Fierce' U.S. Politics Hindering Summit With Trump
  • 19 hours Could oil demand collapse rapidly? Yup, sure could.
  • 19 hours Sell out now or hold on?
Alt Text

Australia Looks To Tackle Its Looming Gas Shortage

The world’s soon-to-be top liquefied…

Alt Text

The Permian Faces A Long Term Natural Gas Crisis

Bottlenecks in the Permian have…

Alt Text

Azerbaijan’s Pipeline Conundrum

Azerbaijan’s European pipeline project is…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Politics & Economics Sideline Eastern European Shale Potential

While most aren’t eyeing the Eastern European shale potential with too much excitement, Chevron stands out for its decisive buy-up of acreage in this region. Chevron has acquired millions of acres in Poland, Romania, Ukraine, Lithuania and Bulgaria. So far discoveries haven’t been as good as hoped; some explorers have pulled up stakes and others may soon get rid of their assets here. There is a great deal of uncertainty surrounding the regulatory environment while protests continue unabated across the region.

Under the current conditions in Eastern Europe, it will be hard to turn a profit. When the US began exporting gas, it caused global prices to fall and made unconventional drilling less profitable overseas. A KPMG study hits this home, saying that shale extraction costs in Europe will be around 40% higher than in the US. Geologically speaking, Europe’s shale is generally trapped about 50% deeper than US shale and the temperatures are typically higher. These countries would also need very expensive gasification facilities and other infrastructure that is not in place and will add exponentially to the costs of production and getting product to market.

The regulatory framework for shale extraction in the US is favorable. Elsewhere, the fiscal terms aren’t nearly as attractive for unconventional development. These terms were made for conventional oil and gas and translating this into unconventional drilling means that the costs…

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