High prices and lack of resources worry oil E&P executives

A survey by Miller Insurance Services has shown that senior executives in exploration and production companies expect oil prices to remain high for the next 12 months: but the lack of available drilling rigs and spare parts was the single biggest concern.

"With oil prices high, and market participants expecting that to continue, the industry is operating at almost full capacity. These sustained high levels of activity have created the most extreme pressure on resources," says Julian Taylor, busin

To continue reading...