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The decrease in oil and gas prices since the highs of mid 2008 has adversely affected the revenues and operations of the oil and gas companies, including integrated and independent producers.
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The decrease in oil and gas prices since the highs of mid 2008 has adversely affected the revenues and operations of the oil and gas companies, including integrated and independent producers. Similarly, the downturn in the downstream sector and the decline in the refining margins have affected the downstream companies. However, many of the companies with a presence in the upstream section of the market may view the economic downturn as an opportunity to position themselves for an upturn by restructuring and consolidating their operations. The credit crunch led to a drop in the availability of credit which prompted some companies to divest their non-core operations in order to increase their financial stability. Additionally, the attractiveness of high growth areas, such as offshore exploration and production and the unconventional sector, provides the upstream firms with an opportunity to let go of their non-core assets and concentrate better on their core areas for growth and increase their reserves, production and future revenues.
This analysis was taken from a research paper published by GlobalData, to download the full Research Paper for free, click below:
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