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Big oil firms the casualty in Opec's shale war

Big Oil will continue to play a significant role, particularly as field developments sanctioned in the era of US$100 a barrel come to fruition - but new projects will suffer.


WHEN Opec started a price war last November, driving oil down to its current US$65 a barrel, US shale drillers looked doomed. Six months later, it's the world's largest oil companies that are emerging as the unexpected casualties.

The reason: the multibillion-dollar projects