Thursday 29 January 2015

LOW OIL PRICES MAY STUNT SECTOR INVESTMENT BY $257BN

LOW OIL PRICES MAY STUNT SECTOR INVESTMENT BY $257BN The strain of low oil prices will lead to cancellation or suspension of investments worth $257billion in the oil and gas industry over the next two years and could create inducements for mergers and acquisitions, according to Wood Mackenzie, a Global oil sector consulting firm.
 
A breakdown of this indicates that investments worth $112bn will be cancelled or suspended in 2015 while another tranche of $145 billion will be affected in 2016.
 

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