EXPLORATION

More exploration warnings

THE International Energy Agency says last year’s historic low levels of oil discoveries and new project approvals could continue again this year, suggesting oil prices need to go higher to see activity really ratchet up.

More exploration warnings

The IEA said oil discoveries dropped to 2.4 billion barrels last year compared with an average of 9Bbbl a year over the past 15 years, while the volume of conventional resources sanctioned for development...

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