A
- Advertising Agencies
- Architects


B
- Banks


C
- Car Dealers
- Car Rental
- Casinos
- Commerce
- Consulting
- Cosmetology
- Craft


D
- Data Processing &
Computer Systems
- Decoration &
Furnishing


E
- Editing
- Elementary Schools
- Engineering &
Contracting
- Environment / Waste
Management Services
- Express Delivery


F
- Fashion
- Financial Services
- Food & Beverage
- Furnished Apartments


H
- Health / Beauty
- Higher & Vocational
Training
- Home Appliances
- Hotels 3
- Hotels 4(A)
- Hotels 4(B)
- Hotels 5
- Hotel & Restaurant
Amenities


I
- Industry
- Insurance
- Interior Design /
Decoration
- Internet


J
- Jewelleries


L
- Lighting
- Luxury


M
- Media
- Music


O
- Office Equipment /
Electronics
- Oriental Carpets
- Outside Decoration


P
- Printing
- Promotional Materials


R
- Real Estate
- Recruitment
- Restaurants


S
- Sanitary Wares
- Security
- Services
- Sweets


T
- Taxi
- Telecommunication &
Mobile Phones
- Transport
- Travel Agencies
- Technical Studies


W
- Watches
- Water Treatment










 


 

Back to archives Back to news
French Version


'Oil majors need closer ties with state-owned firms'

Western oil majors, struggling to find new reserves, should seek closer cooperation with state-owned companies in oil producing countries or embark on acquisitions to replace the crude they pump each year, analysts told an energy conference.

"The challenge for super majors to increase their reserve replacement ratio is daunting," said Jeffrey Waterous, nonexecutive chairman of oil and gas mergers and acquisitions consulting firm Scotia Waterous, adding: "They are under enormous pressure from shareholders and investors to find new reserves."

"Seven billion barrels have to be replaced this year. ... But we haven't seen any major new discoveries so far. In the remaining months we may see some acquisitions because the drills are not performing," Waterous told the conference.

Most international oil firms are finding it increasingly hard to make oil finds big enough to meet their goals to replace and increase production, putting their long-term health at risk.

The world's biggest reserves are controlled by Middle Eastern states that restrict access to their reserves and their own national oil companies, threatening the international majors' dominance of the oil industry.

Analysts said international firms had to be more creative in finding ways to gain access to reserves of national companies.

They said some African oil producing countries also hindered acquisition of assets there, while competition was growing from emerging new players in China and India.

"National oil firms and their governments in the Mideast, Africa and the Caspian region are in the driving seat today, not the super majors," said Waterous.

His firm, owned by Canada's Bank of Nova Scotia, advised on acquisitions and divestment programs worth $15 billion in the last three-and-a-half years.

"The majors are compelled to deal with the national oil firms to secure reserves and they have to run a very clever and creative policy in that respect," he said.

Beirut 05-09-2005
Redaction
The Daily Star



BUSINESS
INFORMATION
Business News
Business Forum
Business Opportunities
Fairs & Exhibitions
Useful Addresses
Currency Exchange Rates
Context
GENERAL
INFORMATION
Geography
Some Marks
To see in Lebanon
FIRST LEBANON
INFORMATION
Media of 1stlebanon
Impact of 1stlebanon
Add your company
Press Book
WEBSITE SELECTION
Flowers delivery Lebanon
Flowers delivery Dubai
Oriental food specialty
Lebanese wine
Real estate agency Beirut
Hotel Hamra-Beirut
Car rental
Beirut-Lebanon
Rent a car lebanon
Reservation for your travel in Lebanon
Association des français de l'étranger
-section Liban
Diamond jewelry Lebanon
Jewelry manufacturer Lebanon
Jewelry watches-Swiss made watches
Diamond Swiss watches
Modern and comtemporary jewelry
Byzantine & Phoenician jewelry
Jewelry creation
Oriental, classical and traditional decoration
Hand made furniture
Construction management Lebanon
Projects development
Shoes manufacturer and distributor Lebanon
Sole agent of Philips & Whirlpool in Lebanon
Web development
Web marketing
Printing press services
Paper products
Insurance company Lebanon
Insurance Lebanon
Rent villas France
Hotels all over Syria
Hotel management company
University Lebanon
Arab Media News