Greenfields Petroleum Corporation V.GNF

Energy

Greenfields Petroleum Corp is an oil and natural gas exploration and development company. Principally, it focuses on the development and production of proven oil and gas reserves in the Republic of Azerbaijan. The company operations consist of The Bahar Project, The Bahar Gas Field, and The Gum Deniz Oil Field. Its properties associated with the project are located in the shallow waters of the Caspian Sea. The company's reportable and geographical segments are Azerbaijan and Corporate.

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Greenfields Petroleum Corporation

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Post by Ledroneon Jan 15, 2018 12:05am

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Post# 27356212

oil goes up

Mamdouh G Salameh on January 12 2018 said:

The recent surge in oil prices since early December 2017 has put a price floor of $60 a barrel under the oil price. 2018 will see a price floor of $70/barrel.

While many analysts attribute the oil price surge to geopolitical developments, the truth is that oil market fundamentals are positive enough to support an oil price ranging from $70-$80/barrel on their own. That is why the oil price is heading towards $70 and beyond in 2018 and $100 or higher by 2020.

A fair price is $100-$130/barrel. Such a price enables oil producers to invest in oil exploration and capacity expansion so as to be able to meet rising global oil demand in coming years, enhances global investments and gives incentives to the global oil industry to invest in new projects. In so doing, they stimulate growth in the global economy.

Dr Mamdouh G Salameh
International Oil Economist
Visiting Professor of Energy Economics at ESCP Europe Business School, London

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