Web
Analytics
The news is by your side.

oil investments

World needs new offshore oil investments to avoid shortages

HOUSTON: Higher investments in offshore oil production are critical to avoiding a supply squeeze by 2020, as expanding shale output will not match projected demand increases in the next few years, U.S. oil producer Hess Corp said on Thursday. The past four years of low oil prices have major producers pulling back on needed offshore investment, and the gap between supply and demand should help prices rebound, Hess Chief Operating Officer Greg Hill said at an energy conference at Rice University’s Baker Institute. “The…