The fate of dozens of deferred oil and gas megaprojects looks increasingly uncertain with oil prices falling below $30 per barrel last week. Most international oil companies (IOCs) and many national oil companies outside the low-cost Middle East have shelved investments, primarily in deepwater, oil sands and LNG, and won't advance them until they see sufficient price or cost relief. Neither looks likely in the near term. Data from consultancy Rystad Energy show 62 pre-sanctions megaprojects worldwide deferred since mid-2014, delaying total capital investment of $222 billion and the development of nearly 4.2 million barrels of oil equivalent per day of peak production capacity and some 25.1 billion boe of reserves.
展开▼
