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Spending cuts derail chain of new oil projects

Collapsing oil prices starve companies of cash, cripple growth, set up potential for supply shortage in future
Monday, January 12, 2015 - 05:50


DANGEROUS and difficult oil fields that looked like goldmines when crude fetched more than US$100 a barrel have turned into money pits as oil crashes to multi-year lows.

Collapsing oil prices not only shrink profits for producers and imperil dividend payouts prized by

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