These are attractive assets, and an interest in upstream assets is always valuable,
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We all put in the same parameters for BP and Shell, but BP just comes out better. The differences in management between the two groups are really beginning to show through.Peter Hitchens
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supply and demand price for oil stands at around 27, so 5 to 6 (of the current price) is pure speculation. There is no demand for oil at these prices, buyers are sitting and hoping oil prices will fall, but prices could shoot up if there is a panic. There is real concern heating oil could run out.
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The compromise could be 700,000 barrels but the actual production increase could be around 400,000. At 1 million extra barrels prices may be drawn lower but at 500,000 prices could hit 40.
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Hunting has reported a good set of final results ... We believe that the group will be one of the prime beneficiaries of the increase in upstream capital expenditure by the integrated oil companies.
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Norway is a relatively high-cost area for oil exploration, the Norwegian Shelf is becoming more mature and it's slipping down the appeal curve.
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