Uploaded by: Knoema
Accessed On: 06 April, 2016
The collapse in the price of oil has squeezed energy companies and countries that were betting on higher returns. Here’s what it costs on average to pump a barrel of oil in the 20 biggest oil producing nations.
This was compiled using data from more than 15,000 oil fields across 20 nations. The production costs were calculated by including a mix of capital expenditures and operational expenditures. Capital expenditures included the costs involved with building oil facilities, pipelines and new wells. Operational expenditures included the costs of lifting oil out of the ground, paying employee salaries and general administrative duties.