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Fossil Energy

about 11 years ago

BP says oil majors have axed 80 projects this year

ABU DHABI (Reuters) – Oil majors have cancelled a total of 80 projects across the globe this year because of low oil prices and cut capital expenditures by as much as $22 billion (£15 billion), BP’s head of exploration and production Lamar Mckay said on Tuesday. (Reporting by Dmitry Zhdannikov and

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ABU DHABI (Reuters) – Oil majors have cancelled a total of 80 projects across the globe this year because of low oil prices and cut capital expenditures by as much as $22 billion (£15 billion), BP’s head of exploration and production Lamar Mckay said on Tuesday.

(Reporting by Dmitry Zhdannikov and Rania El Gamal; editing by Jason Neely)

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