Blending the rules

The speed of decline of North Sea crude raises fresh concerns over the suitability of the North Sea as a benchmark, and to worries over the value of long-dated derivatives contracts. By Stella Farrington

pg15-graph-gif
UK North Sea oil production has fallen by almost a third in just five years, and the UK Department of Trade and Industry forecasts it to drop below 1.5 million barrels a day (b/d) by 2010 – a fall of 45% from its 1999 peak of 2.75 million barrels. And forecasts for the entire North Sea, including Norway, show oil production is set to fall from today’s 4.7 million b/d to 2.7 million b/d by 2010, with some putting it as low as 1.1 million b/d by 2030.

Although these dates seem a long way off

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here