OIL INDUSTRY MEETING THE CHALLENGE
This Special Report is based on remarks by CERA Vice President and Managing Director of Global Research David Hobbs at CERAWeek 2007 discussing whether the global oil and gas industry will meet the challenges it faces. Doubts have been raised about this ability as a result of reports of project delays and cost overruns. CERA is confident that there are solutions in process, including
*a 50 percent increase in real investment in oil and gas productive capacity (total capital investment corrected for the increase in IHS/CERA Upstream Capital Costs Index)
*the engagement of the innovation community in providing investment to help secure future energy supplies
