Rising profits also raise pressures on producers

High oil and gas prices and record profits are generating complex challenges for producers, said Petroleum Industry Research Foundation Inc. (Pirinc) in a recent report.Although shareholders and energy pension fund participants are benefiting from the industry’s good fortune, the Pirinc report said, a nagging public concern remains: “What is the industry doing with its higher profits to improve supply?”Negative public opinion is encouraging governments to expand their claims on production revenues, raising political risk, and adding foreign-policy concerns.These changes in the political climate add to pressures on the industry from near-term capacity constraint; rising c...

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