MARKETS

Despite solid fundamentals, O&G activity subdued

OIL prices remained high over 2022, peaking at US$120 a barrel after Russia invaded Ukraine, before retracting to around $80/bbl. These are prices industry has not seen for the better part of a decade, and should have translated to increased development activity, but drilling has remained stubbornly subdued.

 RISC Advisory managing director Martin Wilkes at the APPEA Conference 2023.

RISC Advisory managing director Martin Wilkes at the APPEA Conference 2023.

During the annual ‘year in review' technical session at the APPEA Conference 2023 in Adelaide this week, analysts noted traditional activity levels were depressed over 2022 while fundamentals remained...

Start a free trial to continue reading this article
Already have an account?  
Subscribe now

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry

editions

ENB Social Licence Report 2021

In its second year, this research now includes trends and new findings surrounding impacts and responses as the energy industry seeks to secure and maintain a social licence to operate.