How Sub-$30 Crude Can Be a Boon for Norway's Giant Oilfield
- Oil rout squeezes suppliers, reducing project's investments
- Crude Prices expected to recover by production start in 2019
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Given a choice, Statoil ASA and the other owners of the giant Johan Sverdrup oilfield would have preferred to avoid the collapse of crude prices that has upended the industry.
But there’s a silver lining: price cuts by desperate oil service companies are now raising margins on projects that are still viable as crude prices have slumped below $30 a barrel.