CNN: the price of oil rose, but too late for USA
09:2317.05.2016
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MOSCOW, may 17 — RIA Novosti. More and more American companies become “victims” of the fall in oil prices, despite the fact that black gold from the middle of February, played 80 percent of its value, according to the channel CNN.
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In the US Department of energy made the growth of oil prices up to $252 per barrel
“This is the harsh reality: oil prices are recovering too late to save many U.S. oil companies drowning in debt, it will not succeed,” writes CNN.
On Monday, a bankruptcy petition filed one of the largest oil companies in the U.S. SanRidge Energy. According to CNN, her debt to creditors of approximately four billion dollars. Just a week before, a similar statement was made by another American company — lINN Energy, 10-billion debt.
Sunday about the beginning of bankruptcy proceedings stated also specialized in oil exploration and oil production company Breitburn Energy Partners, and last week Penn Virginia, mining shale oil.
Thus, despite a significant jump in oil prices, the oil companies have to continue to deal with falling profits amid falling production. According to CNN, these companies have accumulated serious debts in those days, when the price of oil exceeded $ 100 per barrel.
© RIA Novosti. Ilya Pitalev
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Novak does not exclude in the near future the price of oil of $50 per barrel
According to the law firm Haynes and Boone, only this year about the design of bankruptcy announced 29 American oil and gas companies.
From the point of view of George Koutsantonis, managing Director of consulting firm SOLIC Capital, in the near future the industry will find even more bankruptcies, especially among small firms.
“This industry has historically been full of speculators. There is nothing surprising in the fact that we go through this cycle of boom-bust,” said he.
On the eve of the investment Bank Goldman Sachs has announced that for the first time in two years on the world market of oil in place of over-saturation came the deficit. The Bank forecasts that this means that the price of oil in the second half of this year will reach $ 50 per barrel.
RIA Novosti http://ria.ru/economy/20160517/1434822275.html#ixzz48uJCFsb0
