Kibkom North Cyprus Forum

The halving of the oil price in the last six months makes North sea oil is under threat as being to expensive to extract
How will this effect the gas exploration in the med around Cyprus ???

North Sea oil industry 'close to collapse': Experts' warning that oil price plunge is not all good news for UK economy
Oil tycoon and government adviser Sir Ian Wood says 10% of jobs could go
Premier Oil boss Robin Allan says at current oil prices it is 'almost impossible to make money'
Brent crude has nearly halved in price on world markets since June


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I dont see the drop in oil prices stopping the GCs efforts to get the gas from the sea, as its more pride (and pig-headedness) than anything else.
Whether it costs more to get to market than the price you get for it will be totally disregarded, until the time come to actually sell the stuff, and then they will wring their hands and blame the previous government.
With the continual improvement of the fracking process, especially in the USA, the GCs would be better-off leaving it where it is.
Michael

You may want to read this article in the Cyprus Mail:
http://cyprus-mail.com/2014/12/21/tales ... onsidered/

Ajay