Wood Mackenzie: Oil investments for USD 380 million cut

In the past six months, oil companies have postponed a total of 22 major projects and seven billion potential barrels of oil after the collapse of the oil price, estimates Wood Mackenzie. Capex investments worth a total of USD 380 billion have been slashed so far.

Photo: Statoil, PR

The southbound oil price has put massive pressure on the oil majors' incentive to invest in the past six months across the whole sector.

A total of 22 large-scale projects and a combined seven billion barrels of oil, BOE (Barrels of Oil Equivalent), have been put on hold since July 1st 2015, writes analyst agency Wood Mackenzie in a new report.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
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