17 May 2013 22:56 [Source: ICIS news]
HOUSTON (ICIS)--A majority of energy executives believe the question of whether the ?xml:namespace>
Some 62% of those surveyed by the KPMG Global Energy Institute believe the
Many company executives have begun to feel the effects of the ongoing shale oil and gas revolution to the point that the debate over it is getting “more fine-tuned” toward the long-term ramifications, said Regina Mayor, oil and gas sector leader for KPMG.
“People are still quite bullish on the future,” she said.
“Increased domestic production, particularly from shale assets, is having a profound impact on the global energy sector, introducing new sources to the energy matrix,” said John Kunasek, national sector leader for energy and natural resources for KPMG.
About 73% of those surveyed expect the price of natural gas to remain in the $3-4MMBtu level for the remainder of 2013, while 39% expect Brent crude oil to peak at $116-125/bbl in 2013.
“Greater assurance of supply appears to be stabilising commodity price environments and enabling large investments,” Mayor said. “At the same time, marginal production remains ‘shut in’, which could quickly be reinstated should the price picture become even more robust for gas.”
About 62% of energy executives said that the low-priced natural gas environment in the
Survey respondents cited regulatory and legislative pressures (47%), pricing pressures (26%), volatile commodity and input prices (19%) and energy prices (19%) as the most significant growth barriers facing their companies over the next year. Also, 64% said political and regulatory uncertainty was the biggest threat to their business models.
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