A wash ? I don't think so. Everything is relative but its safe to say that production costs are pretty much always a lot below world prices.
Oil production off the coast of Newfoundland is among the most harsh conditions on the planet where they have to face the North Atlantic with difficult currents , vicious winter storms and iceburgs in the spring and they succeed in making billions for the oil companies and the governments.
Conditions in the Gulf of Guinea are benign by comparison !
Market Data 
Markets 
AI
