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Oil price impact far-reaching

MORE than 150 projects that could have added 19 million barrels of oil per day in extra production have been cancelled or delayed since the oil price plunge took hold last year, which will cause problems at the end of the decade, a new report from US-based Tudor Pickering Holt says.

Haydn Black

The report comes as Fitch Ratings said there would be no recovery in oil prices next year, but should start to pick up again in 2017. The largest proportion of shelved projects are in Canada's expensive...

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