The breakeven price for Statoil's (STO -0.7%) Barents Sea oil field Johan Castberg has risen to...


The breakeven price for Statoil's (STO -0.7%) Barents Sea oil field Johan Castberg has risen to $85/bbl vs. a previous estimate of $71, Wood Mackenzie says after STO's surprise decision to delay the project due to higher costs. "When a field that contains 500M barrels isn't profitable, it's worrisome," another analyst says. "It's a warning call about the sector's cost development."

From other sites
Comments (4)
  • Nawar Alsaadi
    , contributor
    Comments (440) | Send Message
     
    peak cheap oil at work ...
    7 Jun 2013, 12:04 PM Reply Like
  • saratogahawk
    , contributor
    Comments (2535) | Send Message
     
    Not so much about the sector's cost but more about the cost of doing business in Norway.
    7 Jun 2013, 12:46 PM Reply Like
  • Veritas1010
    , contributor
    Comments (3264) | Send Message
     
    STO has lost a step, The Norwegian government a half-a-league.
    7 Jun 2013, 10:00 PM Reply Like
  • tarpio
    , contributor
    Comments (14) | Send Message
     
    I think that the decision of delaying the project has to see with the Norwegian government intention to increase taxes over oil production.
    8 Jun 2013, 05:41 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs