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Edited by JJCar

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39 minutes ago, JJCar said:

OPEC SEC GENERAL Barkindo said this Sunday that he wants to work with the US to resolve the oil supply issues and other issues

Can you cite the source of the above statement? This is all I've seen on the subject....

"Barkindo also said he also used his trip to Houston to meet with U.S. shale producers, as he has done before. The secretary general said he is eager to learn more about how the U.S industry is able to find capital to expand drilling."

Doesn't infer anything about working with the US, merely inquiring about financing routes.

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(edited)

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Edited by JJCar
typo

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(edited)

I'm of the mindset Saudi ARAMCO is seeking financial advice for the expansion of global oil and gas exploration, something they have never historically done.

Yes they have investments worldwide in petrochemicals and refining, but never in oil and gas exploration via ARAMCO. 

SK Energy( South Korean) has had positive results from their drilling acquisitions in Oklahoma, and it makes sense that Saudi ARAMCO would follow suit. 

For decades ARAMCO has stood toe to toe with the likes of BP, Conoco, Royal Dutch Shell and the other majors that move the global market all by developing their own reserves.

Makes perfect sense for them to expand into global operations.

Even though I don't count Forbes as a barometer of oil and gas, they do a fairly good job on this article.

Don't count the Saudi's out, they still have a ways to go.

 

https://www.forbes.com/sites/ellenrwald/2019/02/13/heres-why-saudi-aramco-may-be-coming-to-an-oil-field-near-you/

Edited by Justin Hicks
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Why worry about American oil debt and getting oil to $70. If one group goes bankrupt anouther will snap up the assets for a cheaper price.

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25 minutes ago, Boat said:

Why worry about American oil debt and getting oil to $70. If one group goes bankrupt anouther will snap up the assets for a cheaper price.

Greed...why produce oil at $40, when you can do it at $70 and attract more investors? It's more fun to play with other people's money than your own.

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