Posts From King World News

Tight oil is here to stay, Conoco CEO tells OPEC

The U.S. tight-oil boom is here to stay despite low crude prices as technological breakthroughs will allow steep reductions in costs, the head of U.S. firm ConocoPhillips (COP.N) told a seminar organised by oil-producing group OPEC. Tight-oil reservoirs can remain viable today, breakeven costs are already down by 15 to 30 percent,” Ryan Lance, chairman and CEO of Conoco, said on Thursday. The North American shale oil industry “will survive