Companies may cut down international projects by billions of dollars following fall of oil prices

Date: 08:40, 16-01-2015.

Almaty. January 16. KazTAG - In the result of fall of oil prices the international projects on extraction and projection may be cut down by billions dollars, reports the RBK.
Shell declared on Wednesday about construction postponement of one of the biggest refineries in the world jointly withy Qatar Petroleum. The company declared the decision was connected "with the current economic climate in the energy branch", reports the Financial Times.
The British independent oil company Premier Oil also declared it postponed its decision making concerning participation in the Sea Lion project valued $2 bln on oil production at the shelf of Falkland Island. The head of the company Tony Darrent said new projects won't be approved under oil price below $50/barrel.
Norwegian Statooil abandoned three exploration licenses nearby the shores of Greenland. Another company Canadian Natural Resources reduced its annual investment plan from $8.6 bln to $6.19 bln, reports the FT.

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