Technology key to enduring depressed crude oil prices

Canadian heavy oil, bitumen production outlook [52,136 bytes] Announced major oilsands profects [150,979 bytes] Barring unforeseen events, the petroleum industry should expect no early relief from depressed crude oil prices and tough petroleum industry economics. As a result, many development projects will remain in jeopardy of being postponed or canceled. But advances in technology can help companies cope with the current price climate by shaving exploration and production costs. This general outlook was shared by several speakers at last month's Canadian Energy Research Institute (CERI) conference. Among the regions and sectors expected...

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