Oil Search Sees Little Movement in Oil Prices in 2017

The video discusses the stabilization of oil prices and the development of natural gas resources in Papua New Guinea, focusing on the collaboration between Exxon and Totale. It addresses political uncertainties, economic reliance on resources, and cost optimization strategies. The discussion includes oil price trends, OPEC's influence, and the growing demand for LNG, particularly in China and India. The video highlights the importance of managing political and economic factors to ensure successful resource development.

What is the main focus of the collaboration between Exxon and Totale in Papua New Guinea?

• Developing natural gas resources

• Exploring new mining opportunities

• Building a new oil refinery

• Developing renewable energy resources

What has been the impact of cost-cutting measures in the oil and gas industry?

• Expansion of oil reserves

• Increased production costs

• Reduction in unit costs of production

• Decrease in oil prices

Which factor is NOT mentioned as influencing future oil prices?

• US drilling activity

• Supply-demand balance

• Global economic recession

• OPEC supply cuts

What is the expected trend for LNG demand in the early 2020s?

• Stable demand

• Decrease in demand

• Increase in demand

• Complete market saturation

Which countries are highlighted as having strong LNG demand?

• India and China

• Russia and Ukraine

• Brazil and Argentina

• Australia and New Zealand

What is the role of new customers in the global LNG market?

• They reduce demand

• They progressively take up volumes

• They stabilize prices

• They decrease competition

What pricing range is expected to stimulate LNG demand?

• $7-9 an MBTA

• $15.00 an MBTA

• $10-12 an MBTA

• $20.00 an MBTA