A new day for you, a new day for us
Dear Reader, The last thing you need right now is another dreary recitation of industry statistics that show how hard hit the global oil and gas industry has been in the past eighteen months. The fact is that amazing new technologies over the past two decades have produced a glut of both oil and natural gas. Shale technology, offshore developments in 3,000 metres of water, and new technologies applied to conventional reservoirs have created supply of more oil and gas today than the world consumes. The industry has endured massive dislocation recently, with lay-offs, a scaling back of capital investment that is unprecedented in percentage terms, and an existential scramble to lower costs. But
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