How the oil industry plans to please investors

London

THE world's largest oil companies have a plan to weather the worst market in over a decade: borrow more money.

Major oil companies faced with the lowest crude prices since 2003, capital spending budgets with little left to cut, and strong commitments to their dividends will have to take on billions in debt this year as they await a market rebound.

Take BP Plc, whose net debt rose by almost US$5 billion in 2015. …