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Oil majors see low prices persisting for monthsThe global oil glut is likely to take longer than expected to clear and may depress oil prices for many more months if not years despite steep investment cuts and project cancellations around the world, executives from oil majors said on Tuesday More… |
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Oil majors fail to find reserves to counter falling outputBig oil companies had a poor record of finding and producing oil and gas last year, according to figures out in the past week - and big cuts in spending in response to falling crude prices could undermine their plans to turn that around. More… |
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Oil collapse to hit majors’ earnings, challenge austerityFalling oil prices and their impact on revenues will dominate European oil majors’ quarterly results next week, with investors eager to hear how companies plan to achieve ambitious cost-cutting plans in an increasingly tough environment. More… |
