Latest casualty of lower oil prices


Worrying news from Shell that they have ditched a planned $6.5bn gas plant in Qatar, reported HERE in the DT.

With oil prices firmly below $50 per barrel billions of dollars of projects both upstream, or in refining and petrochemicals are under threat. Global energy consultancy Wood Mackenzie has said that 32 potential European oil field developments requiring more than $87bn (£55bn) of funding are at risk with oil prices below $60 per barrel.

As I’ve reported before, while low oil prices are good for some it’s a worrying time for those who work in the industry.