EnergyWatch

Moody's: Oil market lacks USD 500bn to ensure sufficient output

Drilling companies need to raise their budget by 54 percent or more than USD 500bn if oil and gas supply shortages are to be averted in coming years, writes Moody's.

Photo: Mark J. Terrill/AP/Ritzau Scanpix

Drilling companies must raise their budgets by 54 percent or more than USD 500bn if supply shortages of oil and gas are to be averted in the coming years, says credit rating agency Moody's in an assessment to Bloomberg News.

Moody's levels criticism at the activity level among oil and gas drilling companies for having failed to keep up with other price increases in the energy market.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Employee of Danish marine fuel supplier charged for corruption in Singapore

A trader at KPI Oceanconnect, a subsidiary of Bunker Holding, has been charged with corruption totaling at least USD 191,250 as rewards for nominating Straits for the supply of bunker fuel to KPI's customers. The employee has been suspended and his contract terminated, the company informs ShippingWatch.

EU awards big aid for Danish scaled green hydrogen push

The European Union has green-lit millions of euros of subsidy for a 100MW hydrogen project in Denmark with the involvement of several big domestic players. The project is meant to be the enabling stepping stone for GW-scale H2 projects as well as electrolysis at sea.

Further reading

Related articles

Trial banner

Latest News

See all jobs