Gazprom and Shell in significant investment cuts
The falling oil prices make both Russian Gazprom and Shell reduce their investments significantly. Shell plans to cut USD 15 billion from new projects over the next three years.
BY RITZAU FINANS
Oil companies are now starting to put figures on the size of the expected cuts set to hit the industry and not least the numerous affiliated subcontractors. The rock-bottom crude prices hurt Russia's Gazprom and the company's ability to complete planned investments, says Gazprom in a statement.
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