Exploration & Production

Industry must evolve to avoid supply gap – Burke

Caution following the drop in oil prices is set to leave a worrying gap in oil and gas supplies, warns Ray Burke, global product leader at GE Caution following the drop in oil prices is set to leave a worrying gap in oil and gas supplies, warns Ray Burke, global product leader at GE.
By Silvia Favasuli 18 July 2017 0 26803
Contractors' margins have been squeezed since oil prices fell. (SCP Oilfield Services)

Ray Burke, global product leader at GE, has forecast a worrying gap in oil and gas supplies sometime between the next 18 and 48 months as a result of the ‘survival mode’ that the oil and gas industry has been in since 2014, when the oil price dropped. Burke spoke to Interfax Natural Gas Daily about what the industry needs to do.

Ray Burke, global product leader at GE. (GE)Ray Burke, global product leader at GE. (GE)

Interfax Natural Gas Daily: What...