Thursday, January 29, 2015

Tumbling Oil Prices Force Shell to Slash Spending by $15 Billion

By preserving, and even increasing, dividends, energy companies are attempting to keep investors on board while they wait for oil and natural gas prices to rebound to more profitable levels. Royal Dutch Shell Plc, Occidental Petroleum Corp. and ConocoPhillips pledged to slash spending on new wells, pipes and drilling leases by almost $10 billion this year alone -- enough to drill more than 1,400 ...

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