EUR/USD 1.15885
-0.034%
Gold 4192.78
-0.065%
Oil 58.277
-0.313%
USD/JPY 154.732
-0.050%
GBP/USD 1.31205
-0.094%
GBP/JPY 203.020
-0.132%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Legendary Stars (06683.HK) fell nearly 20% at one point during the day, and the company plans to place shares at a discount of about 19.91%.On November 13th, the German Council of Economic Experts held a press conference in Berlin on November 12th to present its report on Germanys economic performance this year and its development forecast for next year. The council predicts weak economic growth in Germany in 2025 and 2026, lower than previously expected. The council stated that US tariff policies have hindered Germanys economic recovery and development.Samsonite (01910.HK) surged over 21%, with the company reporting an 11% year-on-year increase in net profit and a gross margin of 59.6% in the third quarter.On November 13th, local time, the U.S. House of Representatives passed an appropriations bill on Wednesday to fund food aid programs that were disrupted during the shutdown, to pay back wages for hundreds of thousands of federal employees, and to restore normal operation of the air traffic control system. With the House passing the bill 222 to 209, the record-breaking 43-day shutdown of the U.S. federal government is about to officially end, although the two parties are still arguing over federal Medicare subsidies. The bill will now be sent to President Trump for his signature. The House passed the bill on Wednesday, and Trumps support largely preserved Republican unity despite fierce opposition from Democrats. What angered Democrats was that their long-standing standoff in the Senate failed to reach an agreement to extend Medicare subsidies. The Senate had previously passed the bill, and despite mutual blame, neither party appeared to have achieved a clear victory. A Reuters/Ipsos poll released Wednesday found that 50% of Americans blamed Republicans for the government shutdown, while 47% blamed Democrats.The U.S. House of Representatives passed a bill to end the government shutdown with 222 votes in favor and 209 votes against.

How to prevent a severe shortage of oil supply? Moody's: The drilling budget of the exploration company is at least this number

Oct 26, 2021 11:02

According to data from the three major international credit ratings Moody's Investor Services, the upstream annual investment plummeted by about 30% in 2020, and has since rebounded only slightly. Oil exploration companies need to increase their drilling budget by 54% to more than $500 billion to prevent severe supply shortages in the next few years.

Crude oil and natural gas drillers have suffered from unprecedented demand and price drops last year, but they have not expanded their search for undeveloped oil fields as the industry usually does, and have responded to the recent market rebound.

Moody's stated in a report last week that although international crude oil and US natural gas have increased by 50% and 120% respectively this year, global drilling expenditures are expected to grow only by 8%.

Moody's analyst Sajjad Alam wrote in the report that this figure is too small to replace the oil that these companies will extract from the ground in 2022, thereby laying the foundation for a more tight supply scenario. Any such austerity will be on top of the current crises that plague Asian and European economies. As winter approaches, prices are breaking records almost every day, and they are busy supporting fuel reserves. The industry will need to increase spending significantly, especially if oil and gas demand continues to rise by 2025, exceeding pre-epidemic levels.

Moody's quoted estimates from the International Energy Agency that oil and gas companies are expected to spend $352 billion on drilling and related activities this year. If they increase to the recommended $542 billion, it will be the highest in the world since 2015.

On Monday (October 11), U.S. crude oil prices continued to soar, setting a new high in the past seven years, while Bulu oil hit a three-year high. How long can oil be hot? Industry insiders believe that there is a lot of demand for oil heating in winter, the oil market (OPEC) increased production as originally planned, and the European and American energy crisis hits, resulting in strong expectations for oil prices in October. However, the fourth quarter is generally optimistic about oil prices. It should be noted that there may be some The risk of a callback.

Suggestion