Tuesday, 26 June 2007

Oil industry faces reliability problem, not supply

(Reuters) - The problem oil firms face in satisfying world demand is not a lack of supplies, but their ability to unlock new production and distribute it to consumers reliably, an oil industry conference heard on Tuesday.

"There is a lot of oil and gas out there, but the time of easy oil has peaked," Ann Pickard, regional executive vice president of Royal Dutch Shell for Africa said.


Read more at Reuters Africa

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