01.11.2014

30 minutes of reading

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IFPEN analyses in this study the 2014 evolution of global investment in the field of exploration-production and refining.

SUMMARY

 

Changes in oil and gas prices  

  • General background: weak economy and global disorder  
  • Oil prices: fundamentals that could help to relax oil prices?  
  • Gas prices: fall in europe, stability in japan, increase in the US

Exploration and production: slowdown in growth

  • Moderate rise in investment in 2014
  • Exploration – discoveries in 2014  
  • Russia: sanctions will have limited short term impact  
  • Implications of the reforms to the mexican energy sector

Drilling activity and market throughout the world  

  • Onshore and offshore drilling  
  • Geophysical activity and the geophysical market  
  • Offshore construction activity and the offshore construction market  

Refining – significant increase in spending  

  • Increase in industrial costs  

  • A slowdown in the increase in excess capacity in the future?  

  • A bleak future for the european refining sector

 

PDF picto > Download the report (PDF - 1.6 Mo)

THE AUTHORS

Investments in exploration-production - Geoffroy Hureau - geoffroy.hureau@ifpen.fr:
Upstream activities and markets - Sylvain Serbutoviez - sylvain.serbutoviez@ifpen.fr:
Investment in refining - Constancio Silva - constancio.silva@ifpen.fr
Changes in oil and gas prices
  - Guy Maisonnier - guy.maisonnier@ifpen.fr