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The unsteady state of global oil

Posted on 12 December 2011

The paradox of the oil majors is that their reserves are pretty minor. Back in 1970, Western oil firms had full access to 85% of the world’s oil reserves, according to consultancy PFC Energy. By 2010, this figure was just 7%.
Yet it would be a mistake to simply conclude that the likes of Exxon Mobil will be progressively squeezed out by monolithic national oil companies. Events of the past few weeks show why………………………………………..Full Article: Source


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VRS - who has written 40705 posts on Opalesque Commodities Briefing.


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