ConocoPhillips slashes billions from 2016 budget

ConocoPhillips follows Chevron and is now cutting billions from the oil major's investment budget. The company will slash its costs 55 percent compared to last year.

Photo: Tullow Oil

Oil major ConocoPhillips is now following in rival Chevron's footsteps by slashing billions from its planned investments, reports the Financial Times.

ConocoPhillips' cost reduction efforts are just the latest indicator of the fact that the energy industry projects that a potential oil price recovery is a long way off.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs