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Oil and gas industry 'needs $US170 billion cut in costs'

2015-01-26 07:23:50| Oil & Gas - Topix.net

Large-scale corporate M&A deals are more likely than at any point since the late 1990s. Photo: Jessica Shapiro The global oil and gas industry needs to cut costs by at least $US170 billion to avoid an increase in net debt, with cutbacks a matter of survival for some companies as they struggle with plummeting oil prices, according to consultancy Wood Mackenzie.

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