EXPLORATION

$1T wiped from exploration spend

ONE quarter of the expenditure the global oil patch was planning to spend has been shelved since the price crash according to a new report that pegs total lost investments at more than $US1 trillion ($A1.35 trillion), putting the future of the sector at risk.

$1T wiped from exploration spend

Wood Mackenzie's latest look at the health of the energy sector shows the global upstream capital spend from 2015 out to 2020 has been reduced by 22% or $740 billion, or over $1 trillion when cuts to conventional...

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