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As oil plunges, energy companies cut jobs, postpone projects
2016-01-12 22:10:33| Energy - Topix.net
The world's biggest oil companies are slashing jobs and backing off major investments as the price of crude falls to new lows - and there may be more pain to come. Companies like BP, which said Tuesday it is cutting 4,000 jobs, are slimming down to cope with the slump in oil, whose price has plummeted to its lowest level in 12 years and is not expected to recover significantly for months, possibly years.
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Category:Energy and Environment