Translate the article into Russian in writing. U.S. shale's message for OPEC: above $40, we are coming back
U.S. shale's message for OPEC: above $40, we are coming back
Less than a year ago major shale firms were saying they needed oil above $60 a barrel to produce more; now some say they will settle for far less in deciding whether to crank up output after the worst oil price crash in a generation.
Their latest comments highlight the industry's remarkable resilience, but also serve as a warning to rivals and traders: a retreat in U.S. oil production that would help ease global oversupply and let prices recover may prove shorter than some may have expected.
A dramatic decline in costs and rapid efficiency gains have turned U.S. shale, initially seen by rivals as a marginal, high cost sector, into a major player - and a thorn in the side of big OPEC producers.
Nimble shale drillers are now helping mitigate the nearly 70-percent slide crude price rout by cutting back output, but may also limit any rally by quickly turning up the spigots once prices start recovering from current levels just above $30.
While the worst oil downturn since the 1980s sounds the death knell for scores of debt-laden shale producers, it has also hastened the decline in costs of hydraulic fracturing and improvements of the still-developing technology.
While Deloitte auditing and consulting warns that a third of U.S. oil producers may face bankruptcy, leading shale producers say their ambitions go beyond just outrunning domestic rivals.
One reason shale producers can be so fleet-footed is the record backlog of wells that have already been drilled but wait to get fractured to keep oil trapped in shale rocks flowing.
Some warn that fracking the uncompleted wells can offer only a short-term supply boost and a sustained increase would require costly drilling of new wells and therefore higher prices.
Some analysts also warn resuming drilling quickly may prove hard after firms laid off thousands of workers and idled more than three-quarters of their rigs since late 2014.
And even scarred veterans of past boom-bust oil cycles are not sure what will happen once prices start to recover - during the last big upswing a decade ago, shale oil did not even exist.
http://www.reuters.com/article, February 29th, 2016
NOTES
1. a generation -a period of about 25 to 30 years, in which most humanbabiesbecomeadults and have their own children
2. a thorn in one’s side -someone or something that continuallycausesproblems for you – бельмонаглазу
3. a death knell -a warning of the end of something – предвестникконца (гибели)
|
|
|
USEFUL TERMS AND EXPRESSIONS
· tosettlefor –довольствоваться, удовлетвориться, примириться
· tocrankup –наращивать, увеличивать объем, интенсифицировать
· tohighlight –указывать на, подчеркивать, выдвигать на первый план
· aretreat – отступление, отход, общее снижение
· nimble – проворный, мобильный, гибкий, быстро реагирующий
· to mitigate –смягчить, умерить, уменьшить
· rally –рост после снижения, оживление
· debt-laden –обремененный долгами, погрязший в долгах
· hydraulicfracturing –метод гидравлического разрыва пластов (технология добычи сланцевого газа)
syn. fracking
· to outrun –обогнать, опередить
· fleet-footed –быстроногий, проворный, мобильный
· backlog –резерв, запас, очередь
· to resume -возобновлять
· lay off –увольнять
· a rig –буровая вышка / платформа
CONSOLIDATION
Exercise № 11
Translate the following sentences into Russian.
1. Weak utilities production could be a drag on consumer spending.
2. Growth in the service sector accounted for 90% of all jobs created in 2015.
3. The extra cars produced then may delay the need for increased production now.
4. Imports stagnated in October as U.S. demand for crude oil plunged, an outcome that may prove to be temporary as the world’s largest economy picks up.
5. Consumer spending, which accounts for 70 percent of the economy, rose at a 4.4 percent annual pace in the fourth quarter, the biggest gain in four years, according to Commerce Department figures.
6. Analysts at Citigroup said in a recent report that Chinese steel demand had weakened sharply since March as overproduction had caused a build-up of inventories and downward pressure on prices.
|
|
|
7. While most of the world economies are shrinking, China's economy grew last quarter, along with the economies of Singapore, Hong Kong, South Korea, and Indonesia.
8. China’s economy still only accounts for 8% of global GDP in current dollars; domestic private consumption, though growing fast, remains a small part of national GDP by global standards.
9. As recently as 1990, manufacturing was the largest employer in 36 states in the U.S., according to the Labour Department.
10. Collapsing oil prices and weak manufacturing numbers have placed greater importance on consumer spending and service jobs.
11. Analysts say they believe that gains in production cannot be sustained only by rising exports: American consumers must increase spending.
12. Mining production tumbled 2.9 percent as oil and gas well drilling plummeted 8.5 percent after diving 15.8 percent in February.
13. Weakness in the industrial sector is more evidence of cooling in the economy since the start of the year and raises concerns about the ability for the U.S. to generate sustained stronger growth when the global economy is faltering.
14. Increasing service supplies and improving service qualities will help unleash huge potential in domestic demand, and thus offer firm support for stable economic growth and structural optimization.
15. U.S. manufacturing output unexpectedly declined in March by the most since February 2015, indicating factories remain scarred by global challenges that are slow to dissipate.
16. Britain exited recession last month with the strongest quarterly economic gain in five years, even as experts warn of an uneven path to recovery amid a global slowdown and the ongoing European debt crisis.
17. Since American exports only accounted for 7% of GDP in 1929, falling trade volumes can only explain part of the 29.5% reduction in real GDP it experienced between 1929 and 1933
VOCABULARY CHECK
Exercise № 12
Дата добавления: 2018-02-28; просмотров: 423; Мы поможем в написании вашей работы! |
Мы поможем в написании ваших работ!