Oil Slump to Hit $1t Projects

Oil Slump  to Hit $1t ProjectsOil Slump  to Hit $1t Projects

The steep fall in energy prices will hit investment in oil and gas projects worldwide and the industry may cancel about $1 trillion of planned projects globally in the next couple of years, Amin Nasser, Saudi Aramco senior vice president for upstream operations, said, noting that the $1tr figure included projects that might merely be delayed, not just those that could be cancelled outright, TradeArabai reported.