Many of the cuts will also hit energy groups working in Opec countries, including ExxonMobil and Chevron of the US, and Total, Royal Dutch Shell, Eni and Statoil of Europe.
Posts on ‘October 25th, 2008’
We continue to be deluged with corporate advertising claiming that the multinational oil companies are in the vanguard in promoting the benefits of renewable energy. The latest ads from BP, the beyond petroleum company, are a case in point. They say that a combination of Oil+Gas+Wind+Solar+Biofuels will give the world a dependable energy future. True [...]
The omens are not good. TNK-BP, the Anglo-Russian joint venture, has already indicated a potential $1 billion (£630 million) cutback in capital spending next year, and others are expected to follow suit.