Investments in exploration-production and refining in 2014

IFPEN analyses in this study the 2014 evolution of global investment in the field of exploration-production and refining.

SUMMARY

Changes in oil and gas prices  

• General background: weak economy and global disorder  
• Oil prices: fundamentals that could help to relax oil prices?  
• Gas prices: fall in europe, stability in japan, increase in the US

Exploration and production: slowdown in growth

• Moderate rise in investment in 2014
• Exploration – discoveries in 2014  
• Russia: sanctions will have limited short term impact  
• Implications of the reforms to the mexican energy sector

Drilling activity and market throughout the world  

• Onshore and offshore drilling  
• Geophysical activity and the geophysical market  
• Offshore construction activity and the offshore construction market  

Refining – significant increase in spending  

• Increase in industrial costs  

• A slowdown in the increase in excess capacity in the future?  

• A bleak future for the european refining sector

 > Download the report (PDF - 1.6 Mo)

THE AUTHORS

Investments in exploration-production - Geoffroy Hureau - geoffroy.hureau@ifpen.fr:
Upstream activities and markets - Sylvain Serbutoviez - sylvain.serbutoviez@ifpen.fr:
Investment in refining - Constancio Silva - constancio.silva@ifpen.fr
Changes in oil and gas prices  - Guy Maisonnier - guy.maisonnier@ifpen.fr