GLOBAL $200 BLN DOWN

Global oil and natural-gas producers have delayed $200 billion of investment in more than 45 projects following the slump in crude prices, according to Wood Mackenzie.

The deferrals "create a substantial hole in the industry's investment pipeline," accounting for about 20 billion bbl of reserves, the Edinburgh-based researcher said in an e-mailed report.

Brent crude prices have dropped by half in a year after the Organization of Petroleum Exporting Countries (OPEC) decided to maintain output to defend market share amid a global supply glut.

More than 50% of the affected reserves are in deep-water projects, while almost 30% are in Canadian oil sands, the report showed.

gasprocessingnews.com

More: 

1Q2015 WORLD OIL & GAS KEY POINTS 

OIL PRICES HAVE TIGHTENED 

US OIL WILL DOWN 91,000 

OPEC: LOWER DEMAND 

SHORT-TERM OIL OUTLOOK