ShippingWatch

Oil analyst: Arctic extraction can prove too expensive

It could prove much too expensive to extract oil in the Arctic, warns the Norwegian oil analyst Torbjørn Kjus from DNB.

Photo: Christian Florian / DMI

The Arctic and its opportunities for oil extraction constitute an adventure which may end up being nothing but a good story, stated oil analyst Torbjørn Kjus from the Norwegian bank DNB to the national news paper Dagens Næringsliv.

Kjus believes that the oil price will decline significantly in the coming years to about USD 90 per barrel in 2020. With such a low oil price, oil extraction in the Arctic may not be profitable in any way.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Related articles

Latest news

See all jobs