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More than $150 billion of oil projects face the axe in 2015

2014-12-05 09:30:17| Energy - Topix.net

Global oil and gas exploration projects worth more than $150 billion are likely to be put on hold next year as plunging oil prices render them uneconomic, data shows, potentially curbing supplies by the end of the decade. As big oil fields that were discovered decades ago begin to deplete, oil companies are trying to access more complex and hard to reach fields located in some cases deep under sea level.

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Category:Energy and Environment

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