The impact of lower oil prices on company plans has been brutal. What began in late-2014 as a haircut to discretionary spend on exploration and pre-development projects has become a full surgical operation to cut out all non-essential operational and capital expenditure.

Angus Rodger

Categorized in : Energy

China will likely continue on the same path as it has in recent years – an overwhelming focus on new gas production, leading to continued decline in its oil output.