Insight

Global Oil Cost Curves and Pre-FID Breakevens – updated H2 2018

Harry Paton

12 March 2019

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Are higher cost sources of supply required? Is US tight oil the cheapest form of new supply? We have updated our global breakeven analysis with our most popular charts and analysis to help you understand the global cost of supply.

This report answers some key questions including:

Is higher cost supply needed in the future?
Where are the most competitive sources of new supply?
How important are pre-FID projects and how much of a role will contingent resources, reserves growth and further exploration have in the future cost of supply?

Report summary

The Oil Supply Team have updated their breakeven analysis. Breakeven costs are assigned to every element of our global liquids supply view allowing a detailed, comprehensive view of the global cost of supply. Are higher cost sources of supply required? Is US tight oil the cheapest form of new supply? We have updated our global breakeven analysis with our most popular charts and analysis to help you understand the global cost of supply. This report answers some key questions including: • Is higher cost supply needed in the future? • Where are the most competitive sources of new supply? • How important are pre-FID projects and how much of a role will contingent resources, reserves growth and further exploration have in the future cost of supply?

Summary of Contents

Summary Power Point PDF File (10 page ppt):

Exec Summary
The global cost curve of 11 million b/d
Why do OPEC countries sit lower on the cost curve?
Individual resource theme cost curves
How does offshore compare to the US Lower 48 through time?
How do reserves growth, yet-to-find and other discoveries affect global supply?
Is higher cost supply required? The supply gap and the breakdown of what will fill it
How important are pre-FID projects? A closer look at what makes up global supply capacity
Which projects are competing for capital in the near term? The pre-FID cost curve
Detailed pre-FID cost curve in 2030
How has the pre-FID cost curve changed over time?