Upstream Oil And Gas: Consolidation Opportunities Ahead

Much attention is currently being paid to the effect of the credit crunch and the global financial crisis on the upstream oil and gas industry, particularly the impact on capital expenditure plans and investment programmes for marginal development projects. With traditional sources of capital funding having been dramatically curtailed and crude prices having more than halved from their July 2008 peak, the focus has been on the negative effects for exploration and production (E&P) companies. Although several companies have been badly hit by the financial crisis, however, the current global situation also presents opportunities, particularly in the field of M&A

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