Russia’s fourth-largest oil producer Gazprom Neft (LSE: GAZ) announced on Thursday that it had hit first oil in the Badra oilfield in Iraq. This announcement comes two months after Gazprom Neft postponed production at the field due to safety, logistical, and regulatory issues.
The field has a natural flow rate of 7,000 barrels per day, but the infrastructure needed to extract and transport the oil is far from finished. Gazprom Neft says construction is under way and is “nearing completion” but part of the company’s delay in November came from a lack of local contractors so the company’s actual progress is unclear.
America is Crumbling…Time to Buy!
Where there’s decay, there’s room for repair. Where there’s destruction, there’s room for construction. We needn’t look at a failing infrastructure as a sign of neglect, but rather as a sign of opportunity. There are a lot of places in America where critical urban infrastructure is so old that it needs constant attention. You can rest assured that investments in this space will yield returns.