"The long-term demand for oil outstripped supply, and that for companies with strong balance sheets and a long-term view now was the time to invest, not to withdraw, he said on the sidelines of the VIP Programme on the UAE’s future energy vision, held during the current Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2016)The oil industry is inherently cyclical - this is a basic point that often gets overlooked in the short-term noise - and finding an equilibrium between supply and demand is almost impossible," said Al Mazrouie, who is also the managing director of Abu Dhabi's International Petroleum Investment Company, IPIC. "
So what he is saying is: CEPSA for sure won't stop exploring in 11A. No way... that is why we are at day 243 after spudding the dry hole, remember.
The Doctor.
