Grupo de Economia da Energia

Posts Tagged ‘environmental accident’

The accident in the Gulf of Mexico and its consequences for the World Oil Industry

In oil on 05/07/2010 at 00:28

By Helder Queiroz

Over the last decade, the global oil industry (GOI) was strongly affected by the changes observed: i) asset configuration due to transactions of mergers and acquisitions; ii) market conditions, with changes in supply and demand structures; and iii) regulatory frameworks of the main producing countries.

Over the past five years, in particular, there was a major change in economic conditions of GOI: high international prices that reached the level of US$ 145 per barrel, after a long period of relatively low prices (below US$ 28 in 1986-1998).

Despite the hard drop recorded in July 2008 causing a new price level around US$ 60-80 per barrel and the reduction in global demand in 2009 due to the downturn in world economic activity, factors of uncertainty are present regarding the future expansion of production capacity. Continue lendo »