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Apophis   

With the crash of the price of oil, is this the end of Somalia oil exploration deals?


“Wood Mackenzie last week analysed the impact of an oil price of $35 on companies’ previous investment plans for 2020. “It’s a very, very ugly picture,” said Kretzschmar. “At $35 per barrel, 75% of projects don’t even cover the cost of capital.”

 

It is around $20 per barrel now.

WWW.THEGUARDIAN.COM

Analysts say the coronavirus and a savage price war means the oil and gas sector will never be the same again

 

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