how much does it cost to produce a barrel of oil?

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emordnilap
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how much does it cost to produce a barrel of oil?

Post by emordnilap »

Interesting article here which attempts to address that question.

The answer appears to vary widely:

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In this article not a single company could fund its capital expenditure with cash generated from operations. Apart from the majors (who can fund their investment, but hardly their dividend) there is practically no company that was able to do so in 2014, a year with a reasonable oil price. How the situation will look like in 2015, is another story. Once again, I express my opinion that an oil price at today's level is not sufficient for the upstream industry.
I experience pleasure and pains, and pursue goals in service of them, so I cannot reasonably deny the right of other sentient agents to do the same - Steven Pinker
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