Statoil sees Angola, Russia as best bets; U.S. shale overhyped

Statoil's (STO +2.1%) head of exploration sees offshore Angola and Russian shale as the industry's next big plays and considers U.S. shale oil overhyped.

"There is a huge, huge upside if it works," Tim Dodson says, referring to STO's preliminary deal with Rosneft in June to explore for shale in western Siberia; "the geology is absolutely fantastic and the scale of it is just enormous... the Bakken [in the U.S.] looks minute compared to it."

On the U.S., "we question a little bit all the hype... Of course, it is significant, but it is really only the Bakken," where STO holds ~330K acres.

From other sites
Comments (1)
  • Chancer
    , contributor
    Comments (4640) | Send Message
    The big question in Russia is: Between the cut for the corrupt government and the mafia, will the foreign company get any money out?


    The second big question is: After the foreign company invests billions, when does the government confiscate the company's assets and investment, and jail the executives?
    23 Aug 2013, 02:22 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
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