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The global oil industry has faced tough times over the last couple of years, the benchmark oil price has dropped from over $100 per barrel to (at its lowest) $33 in early 2016– the lowest oil price since 2004. However, things are starting to look up as the industry starts to recover. Projects are back on track and exploration companies are beginning to see available financing. In this issue RGN spotlights the current climate in the oil industry, where the recovery is occurring and what the future looks like.

In our headline interviews we speak to outgoing OPEC Secretary General Abdalla Salem El-Badri about OPEC’s take on the oil price crash and what its outlook is for the recovering market and the International Energy Agency’s chief economist Laszlo Varro speaks about the energy mix and what the future will be for the global energy sector.  We feature in-depth interviews with worldwide oil exploration companies such as Finder Exploration and discuss their assets in Western Australia, ADX Energy’s Ian Tchacos tells us about the opportunities in the Sicily Channel and Tunisia, and we also get an overview of the UK shale gas scene from Cuadrilla CEO Francis Egan.  Our expert columnists this issue include Skip York from Wood Mackenzie writing about how the oil industry might shift looking to 2020, Natixis analyst Abishek Deshpande outlines the US upstream focus and Ian Thomson provides an overview of the much maligned oil industry.

 

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