Executive viewpoint

The last 10 years in the oil and gas industry have been one of the most exciting decades for some time. Through its newly developed technologies, the industry has been increasing production and helping the U.S. to lower its energy dependence. The next necessary phase in this journey is to lower production costs, especially in shale output. However, our increasing energy supply over the last six years has been matched by constantly weak economies in the U.S. and the European Union, which resulted in a slowdown in the Chinese economy. This created a global “increasing supply, decreasing market” equation. Geopolitical calculations vis-à-vis cost of production in each country have also played critical roles.

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