The bad boys of oil

Most of the world's new production is expected to come from just a few nations. That could spell big trouble for Big Oil and consumers alike.

So what's next?
So what's next?
Although the prospects look bleak, Western firms are not completely locked out. Many state-owned oil companies will still cut deals with the big multinationals, just under tougher terms.

With an eye toward supplying their own growing economies, the state oil firms may be willing to give up reserves in their own country in exchange for concessions elsewhere, said David Hobbs, head of research at Cambridge Energy Research Associates.

And combining oil deals with other plans to develop a country's infrastructure -- like building ports or railroads -- is another way foreign forms can secure new contracts. "Increasingly, you seeing deals with bundled components," said Hobbs. "Resource holders are looking to use access as a way to get more economic development in the country."

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.