Projects and energy: Rock solid returns
On 11 July, 2008, oil prices reached a record high of $147.47 (£74.54) per barrel. Although prices have fallen since the summer, they remain at historically high levels, driven by the combined forces of geopolitical upheaval, concerns about 'peak oil' having been reached and the ongoing influence of the Organisation of the Petroleum Exporting Countries (OPEC).Oil exploration is risky and very expensive. As a result, the decision whether or not to develop a potential prospect is to a large extent driven by the explorer's view of the price they will be able to achieve for the oil they eventually get out of the ground.
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