The West African offshore oil and gas industry has a history of exploration of more than 50 years, with international majors and smaller firms having held, and relinquished, licences all along the coast since the British discovered oil in the Niger Delta in the late 1950s.
Within the international oil and gas industry publicly traded companies do not share the same scale or degree of influence compared to the larger state-owned national energy giants. The following list showcases the top 10 oil and gas companies.
Prices are expected to rise, initially pushed higher by increased gas demand for cooling, as Senior Meteorologist Joe Bastardi of AccuWeather.com predicted this summer to be the “hottest summer since 2005 for much of the nation” and later from increased demand in industrial and power generation.
The oil spill liability could extend well beyond British Petroleum as Transocean Ltd., Halliburton Co. and Cameron International Corp. all had some exposure to this series of current events.
Even as investors are mulling mixed signals over crude supply numbers from the Energy Information Administration, there are clear indications that the Gulf state leaders have no plans to stop pricing oil in dollars. The rumour had traders hitting the panic button.
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