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Delays and costs hit oil output
- Saudi Arabia: Sunday, August 20 - 2006 at 11:54
Delays in project start-up and increased costs are hitting oil production at a time of inflated prices, reported the Bahrain Tribune. Norway's Norsk Hydro said in June that it was likely to miss its 2006 output target, while BP and Shell have also suggested they may miss their intended output. Deutsche Bank said that eight major European oil firms missed their targets by a combined 530,000 bpd in Q2.
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Jonathan Sheikh-Miller, Deputy EditorSunday, August 20 - 2006 at 11:54 UAE local time (GMT+4)
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