OIL GAS INVESTMENT DOWN $85 BLN
GLOBALDATA - 04 May 2020 - To protect balance sheets, maintain shareholder pay-outs and preserve cash, oil and gas companies have gone into survival mode, reducing forecast expenditure where possible to weather the impacts of COVID-19 and oil market volatility, says GlobalData, a leading data and analytics company.
Daniel Rogers, Oil and Gas Analyst at GlobalData, comments: "The bearish near-term outlook for the industry has forced many companies to reassess their forward expenditure. To date, more than US$85bn has been cut from over 100 companies…
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