Factbox: Oil companies slash 2015 spending

Rishabh Digha Steel and Allied Products

10/08/2015 17:57

LONDON, Aug 10 (Reuters) - International oil companies have 
significantly lowered spending this year due to persistently low 
oil prices, cutting budgets and thousands of jobs. 
    With crude oil prices at $50 a barrel and little sign that a 
glut in supplies will disappear before the middle of next year, 
analysts expect more cuts this and next year.  ID:nL5N10G2W1  
    Here is a table of capital spending (capex) cuts announced 
so far by the world's largest publicly-traded oil companies. 
     
     
 Company    2015    2014      PCT    Cost        Job    Link 
            Capex   Capex     chng   savings     Cuts    
            bln     bln                                  
 Royal      <$30    $37       20     $4 bln (10  6,500  [ID:nL5N 
 Dutch                               pct)               10A1AS] 
 Shell                                                   
  RDSa.L                                                 
 BP  BP.L   <$20    $22.9     13     Set to      $1     [ID:nL5N 
                                     exceed      bln    1080VO] 
                                     $1.2 bln    restr   
                                     in 2015     uctur   
                                                 ing     
 Total      $23-24  $26.4     11     Set to             [ID:nL5N 
  TOTF.PA                            exceed             1091JH] 
                                     $1.2 bln            
                                     in 2015             
 Statoil    $17.5   $19.6     11     $1.7 bln           [ID:nL5N 
  STL.OL                             from 2016          1080B8] 
 Eni        11 bln  12.6 bln  13                 up to  [ID:nL5N 
  ENI.MI    euro**  euros                        1,500  10A48I] 
                                                 by      
                                                 2016    
 Repsol     $4.5    $4.5      0                         [ID:nL5N 
  REP.M                                                 10A1GW] 
 Exxon      $34     $38.5     12                        [ID:nL1N 
 Mobil                                                  10B0TC] 
  XOM.N                                                  
 Chevron    $35     $40.3     13                        [ID:nL1N 
  CVX.N                                                 10B0WS] 
  
     
    * Assuming BG Group acquisition completed by early 2016 
    ** Eni plans 2015-2018 capex of about 48 billion euros ($53 
billion), down 17 percent from its 2014-2017 plan. 
($1 = 0.9073 euros) 
 
 (Reporting by Ron Bousso in London, Stine Jacobsen in Oslo, 
Stephen Jewkes in Milan, Jose Elias Rodriguez in Madrid, Terry 
Wade in Houston; Editing by Ruth Pitchford) 
 ((ron.bousso@thomsonreuters.com; +44)(0)(2075422161; Reuters 
Messaging: ron.bousso.reuters.com@reuters.net)) 
 
Keywords: OIL CAPEX/