​World oil companies froze projects valued $200 bln

Big energy companies have frozen expenses to approximately $200 bln for the new projects within the frameworks of emergency reduction of expenses, directed on protection of dividends of investors after the second sharp drop of oil prices this year, reports the Vesti.

"This sharp drop of oil prices went in parallel with reduction of prices for copper, gold and other crude goods, as a result in caused drop of prices at the crude goods of Bloomberg to the 6years minimum due to concern about slowdown of economic growth in China and growth of proposal on the market," reads the publication.
According to Wood Mackenzie, drop of oil prices since summer of last year has frozen performance of 46 big oil and gas projects for the fields development with 20 bln barrels stocks.
Among the companies freezing big projects performance are BP, Royal Dutch Shell, Chevron, Statoil and Woodside Petroleum.

Source: kaztag