Economy 52,860 Posted January 10, 2017 Share Posted January 10, 2017 http://oilprice.com/Energy/Oil-Prices/Oil-Price-Rebound-May-Come-Too-Late-For-UK-Oil-Sector.html Dozens of UK Oil companies have are really gone bankrupt or insolvent and the remaining ones are struggling with more bankruptcies expected for 2017 They are struggling as $50/barrel oil is insufficient to cover the high costs of deep sea drilling With Shale on the rise and the drop in costs in Oil Sands... it is unlikely Deep Sea Drilling can compete long term to stay in business Link to post Share on other sites More sharing options...
Ares 808 Posted January 10, 2017 Share Posted January 10, 2017 Time to... Go Green Link to post Share on other sites More sharing options...
Luc 4,776 Posted January 10, 2017 Share Posted January 10, 2017 Does this include Shell? Link to post Share on other sites More sharing options...
Economy 52,860 Posted January 10, 2017 Author Share Posted January 10, 2017 4 minutes ago, Luc said: Does this include Shell? Id assume the Super Giants are the most resilient... Also companies that large always have operations in multiple areas... Shell produces some oil in Canada's Oil sands for example Those companies would simply discontinue business in Deep Sea Drilling in UK if it became a chronic consistant loss to do business there but the company would still exist by doing business else where Small or Medium sized resource companies usually only do business in one area tho Link to post Share on other sites More sharing options...
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