It’s useless forecasting oil price: Shell chief

Concern is rising among top energy officials that the oil industry is facing a deeper set of financial ailments and future supply problems.

According to industry estimates, around $100 billion (Dh367 billion) worth of oil and natural gas drilling projects – mostly in nations that aren’t members of the Organisation of Petroleum Exporting Countries (Opec) – have been either delayed or cancelled over the past year because of the world’s financial problems and weak oil prices.


Those reassessments may well hurt future energy supplies but they also have big implications for oil companies.

Charles Hodson CNN Anchor interviewed chairman and chief executive of Royal Dutch Shell, Jeroen van der Veer in Davos.

Gulf News