Oil Production Costs Surge, But Shale Projects Remain Profitable
Tuesday, 1 October 2024 () The cost of developing new upstream oil projects is continuing to rise as inflationary pressure and supply chain woes endure. New research from Rystad Energy shows that the average breakeven cost of a non-OPEC oil project grew to $47 per barrel of Brent crude, a 5% increase in the last year alone. Despite rising costs, breakevens are still less than current oil prices. Offshore deepwater and tight oil projects remain the most economical new supply sources, with oil sands still the most expensive. By analyzing breakeven costs, we can estimate how…
India has overtaken China to become the largest importer of Russian oil, marking a significant shift in global energy dynamics. In July, Russian crude made up 44% of India’s total oil imports,..
Tuesday, 1 October 2024 ()
![India Dethrones China as Russia's Top Oil Buyer, Grabs 44% of New Delhi's Imports | Details [Video]](https://video.newsserve.net/300/v/20240824/1385637970-India-Dethrones-China-as-Russia-Top-Oil.jpg)
