CERAWeek2018: Oil from shale will be resilient with oil at $50: Hess CEO

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FILE PHOTO: John Hess, CEO of the Hess Corporation, speaks during the IHS CERAWeek 2015 energy conference in Houston, Texas April 21, 2015. REUTERS/Daniel Kramer

Reuters) – Oil production from shale formations will account for an increasingly large percentage of global oil production, Hess Corp. CEO John Hess said in Houston Monday.

Shale “will be resilient in a $50 world and we are in a $60 world,” Hess said, speaking at CERAWeek by IHS Markit. Shale’s output will grow as offshore production in the Gulf of Mexico plateaus, he said.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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