Ben Chapman: 6 Sept 2016
Never mind the drop in crude prices, huge spending cuts and thousands of job losses, the world’s top oil and gas companies are set to produce more than ever for some time.
While top oil companies struggle with slumping revenues following a price rout after years of spectacular growth, their production has grown as projects sanctioned earlier in the decade come on line. Overall production at the world’s seven biggest oil and gas companies is set to rise by around 9 per cent between 2015 and 2018, according to analysts’ estimates.