Petroleum Companies & Market Analysis
Prices continued to drop in the oil and gas industry in 2015. In less than a year, upstream oil and gas companies faced a 50 percent drop in revenues. Looking ahead to 2016, we see positive developments that could help the industry evolve to a better place. Demand, decline, production, and a leaner, stronger industry will all have an impact. John England, US Oil & Gas leader, Deloitte LLP, provides his take on what happened over the past year, what didn’t, and the opportunities that lie ahead for the US oil and gas industry.
- Cut capital expenditures and defer major capital projects
- Cut operating expenditures and headcount
- Push suppliers for better pricing
- Â Hope for better pricesÂ
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