IOCs may face strong competition for Iranian contracts from domestic oil and gas developers and service companies that have grown in size under sanctions.
Imports of Russian gas into Europe will rise. Even if transit via Ukraine comes to an end after 2019, new lines into Europe will support additional flows.
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Shell’s takeover of BG Group is starting to look like a gamble, as analysts are asking if the deal will work with oil at $70 per barrel.
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