Oil majors have publish profits less hearty that a year ago, the barrel since the spring of continuous upwelling incentive to boost exploration and production projects suspended during the recession. Supported by the return of growth in the United States, first country consumer of black gold in the world, the WTI prices, reference U.S. oil, reached 80,46 $ session yesterday in New York, against a low point of 34 dollars in December 2008. What make many again profitable sites.
Around the world, the number of drilling has already regrimpé 11 four months. "35 Projects postponed end of 2008 in the OPEC countries, the lack of liquidity and the collapse of the crude, 7 projects with a capacity of 1.2 million barrels per day have been revived", recently explained the Secretary General of the Organization, Abdallah el-Badri.
An alarm clock that offers prospects of substantial contracts to major OEMs in the industry. "If the economy continues to give signs of recovery, while the worst is behind us," said last week the patron of Schlumberger, Andrew Gould. The CEO of the first group of petroleum services held to issue a message of hope to investors. For the latter, the renegotiation of prices with oil producers are now completed. Schlumberger believes that the strength of the oil prices should encourage the majors to "maintain their spending.
Activities in the deep waters will remain supported and some on land markets will be on the rise. However, the weakness of the price of gas and the production overcapacity in the liquefaction of natural gas will continue to limit drilling or construction projects in the gas.
The Middle East at the feast
For the moment, Schlumberger nonetheless continues to absorb the consequences of the reports of projects and the violent falling prices imposed by the majors early in the year. The net result of the Group dropped by 48 in the third quarter to 787 million, for a turnover of 5.4 billion, a decrease of 25. But the group includes investments in "quite substantial" increase in 2010, and an increase of at least 10 of Russia drilling activities.
Same optimism from the British company Petrofac. Last week, it announced that it was on an increase of at least 20 of its annual results for the fact of an activity in the construction and the offshore exploration-production. The market capitalization of Petrofac has tripled since the beginning of the year. On average, the concession companies saw their value leap of 85 from the lows hit in December.
The Middle East should be a particularly active region in the coming months. Alone, the United Arab Emirates should grant $ 21 billion of contracts in energy by mid-2010, indicated the week last Arturo Grimaldi, Vice President of the region in Technip. Over the period 2010-2011, about 65 billion of projects will be launched by the country, calculates Petrofac. In 2012, it will be the turn of the Qatar, the Kuwait and the Saudi Arabia to take over and invest about $ 40 billion in energy projects, according to Technip.
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