You are here

Oil firms slash spending, jobs as prices slide for second time

Chasing growth in this environment would make no sense: Anadarko Petroleum Corp

IN A TOUGH SPOT: The easy money that helped even highly leveraged companies to keep drilling in the first half of the year may also become more scarce, another hurdle for the battered sector.


THE stark reality of a much-feared second dip in crude prices is prompting global oil majors and nimble US shale companies alike to axe spending once again a year after the first price crash started.

Just days into the second-quarter earnings season, Chevron Corp and Royal