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OPEC took the initiative to meet with US shale oil and gas companies Back ->

Time: 2018-01-18

OPEC Secretary General recently said that OPEC took an active "ice breaking", meeting with major US shale oil and gas companies during the World Oil Congress in Istanbul, Turkey, was productive.


It is reported that in March this year, held in Cambridge Energy Week, OPEC and the United States shale oil and gas companies have contacts, and hope to have a more in-depth meeting. The main reason for this challenge is that shale oil companies in the United States do not have organizations such as the association with OPEC status.

Shale oil and gas companies in the United States are mostly independent companies, Not only to drill "wild cat" well-based small companies, but also have shells such as "predators", and more is between the two kinds of company. They are usually members of the American Petroleum Institute (API), but this institute does not make any industry policy. Even the most well-known Harold Hamm of the American shale oil and gas industry (40 years as chief executive of mainland resource companies) is difficult to reach agreement with any other company on any issue, Even if agreed to cut production measures, according to the US "antitrust bill" is also belong to illegal.

Historically, the United States did have a precedent for allowing oil companies to collaborate to achieve a particular goal, but they are all at a special time, Such as World War II, the 1973 oil crisis and so on. Even if the US government agreed to cut production of agreement between oil companies, some small oil and gas companies are overwhelmed, because Wall Street investors return on investment is square accounts in every detail.