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Slump’s varied effects present mixed opportunities

11/24/2008
The varying effects of economic troubles on exporting countries and national oil companies present a mixed slate of opportunities to international oil companies with cash to invest.Lew Watts, chief executive officer of PFC Energy, told the RMI Oilfield Breakfast Forum in Houston Nov. 12 that most Persian Gulf members of the Organization of Petroleum Exporting Countries can weather the slump in the price of crude oil.National “break-even” West Texas Intermediate crude prices in 2010 are $54.26/bbl in Saudi Arabia, $52.07/bbl in Kuwait, and $45.59/bbl in the UAE, Watts estimated.By contrast, in Venezuela, where the government has spent heavily on social and international project...
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