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Oil investments, producer governments need $100/b price: Total

Posted on 24 April 2013

Crude oil prices at “roughly” $100/barrel are required for future upstream investments in unconventional oil production as well as for the sustainability of producer governments, Xavier Preel, vice president for Middle East E&P at France’s Total, said Tuesday.
Speaking at the Middle East Petroleum and Gas Conference in Abu Dhabi, Preel said that without the relatively high oil prices since 2005, upstream investment would not have seen the “fivefold increase” that has happened. “Without those prices, we would not be where we are today.”……………………………………….Full Article: Source


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