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Page added on March 29, 2009

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Hard times mean new opportunities for Big Oil

HOUSTON (AP)


At $50 per barrel, these countries are far more constrained and can’t adequately fund some oil and gas projects.


Experts say Western oil corporations, who stockpiled cash when profits were flush, can shift operations to any corner of the globe and have the capital that allows them to strike deals with state-controlled producers on very favorable terms. When that might happen is uncertain, but energy experts and some executives have said deals are imminent if prices remain at current levels.


AP



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