The media in Vienna July 8 reported that the Organization of Petroleum Exporting Countries (OPEC) Secretary-General Abdallah July 8 Badri said here today that the OPEC oil prices on the current comfort, but the current oil prices do not encourage further investment.
OPEC is in the annual report of the organization said. OPEC also in the report of its 5-year forecast to cut investment in oil field about 50 billion U.S. dollars.
Badri in the report to the media, said that the current oil prices are another comfort people, but the price does not encourage the oil to new oil production capacity for further investment.
Oil prices from the most recent in December last year, when 32 U.S. dollars per barrel rose to around 70 U.S. dollars a barrel, but oil prices a year ago is still far below the 147 U.S. dollars per barrel hit a record high.
Badri in response to a reporter's question on whether OPEC would like to cut production of this issue, said: "We would like to see oil prices can no longer meet our investment level, but the reduction or increase in oil production by OPEC members is the decision of the Council of Ministers a decision. "
Jul. 9, 2009
Sale of new exploration permits in India was 10 billion U.S. dollars investment
According to Norwegian media, New Delhi, July 2 reported that India's economic survey recently released statistics show that as of April 1 this year so far, India's new exploration licensing policy to sell (Nelp) the total number of tenders have been as high as 10 billion U.S. dollars promise of exploration investment.
Nelp system in India since 1999 have been signed since the implementation of 203 production sharing agreement, so that India's domestic oil and gas exploration area has increased by 3 times.
Statistical data also shows that by 10 billion U.S. dollars of investment in exploration, has invested 5.2 billion U.S. dollars to develop new oil and gas found, for example, is located in Krishna - Godavari basin D6 block, as well as the company Cairn Energy Mangala Rajasthan was found.
Jul. 5, 2009
Nelp system in India since 1999 have been signed since the implementation of 203 production sharing agreement, so that India's domestic oil and gas exploration area has increased by 3 times.
Statistical data also shows that by 10 billion U.S. dollars of investment in exploration, has invested 5.2 billion U.S. dollars to develop new oil and gas found, for example, is located in Krishna - Godavari basin D6 block, as well as the company Cairn Energy Mangala Rajasthan was found.
Jul. 5, 2009
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