Oil forecast
Oil experts believe supplies over the next 10 years will be plentiful but oil companies have been urged to spend more on exploration in developing countries. Fred Hartley, chairman of the American Petroleum Institute, said that supplies should be adequate to meet world demand for at least 10 years. The American Energy Secretary (Mr James Edwards), meanwhile, told the institute’s annual meeting that international oil companies shouid boost exploration in developing countries. American experts estimated that half of pofential world oil reserves were in countries where only 5 per cent of all drilling had been done. — Chicago.
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Press, 12 November 1981, Page 23
Word Count
99Oil forecast Press, 12 November 1981, Page 23
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