Yep. I was forwarded that letter from Petronas already, renegotiate all tenders awarded...

Life will be challenging this year.

I agree it won't bounce back so easily. The US shale production isn't being produced by one single oil company but by many smaller oil companies who focus very much on US local production only due to the crude oil export ban that's been in place for several decades. No single entity can control all these companies, it's not as easy to control as Saudi's oil production.

In all likelihood there's going to be another dip in the near future as more storage fills up. $60 is the new oil normal for the near and mid term.

Very true. They also have large cash reserves and a lower cost basis.

However private equity and cash rich companies are already looking at making acquisitions of distressed unconventional companies in the US shale regions already. I don't know if this will change US shale production much though.

Interesting times to be in non-petrotech oil and gas too, doing business development, portfolio management and M&A

Sad day in oil and gas today, heard about one major offshore incident in Malaysia with casualties. Be safe out there everyone.

Time downturn camtu la tuan, nak hire kena 2 SVP signature dan lain lain lagi. Yang nak menghire pun pening

Agreed, for me the only reason to go to Houston is a stopover point to go on to Austin, New Orleans, Orlando keh keh keh.

I wonder what the job market is like over there now after the oil price crash.