Competitive Pressures, New Investment Dynamics Put Squeeze On Independents In International Oil & Gas

摘要

Englewood, CO.-While many outsiders view the energy industry as riding high on profits, industry executives are likely to tell you they are starting to feel squeezed by several factors that are driving fundamental changes in the international exploration, drilling and production business. Oil and gas market volatility and uncertainties have been characterized by three less-than-pleasant surprises that occurred during the past two years. The first was the supply and demand crunch of 2004, which was driven by an unexpected demand surge in Asia that significantly challenged global oil production capacity.