Big Oil Sheds Assets to Fix Balance Sheets

The oil industry may be in the midst of entering a new phase of high costs and slower growth. New oil discoveries are harder to come by, and the scramble to replace depleting production is costing more and more. The days of the large discovery that is easy to tap into are gone. Now, the industry has to go to the ends of the earth to get more oil. And for years, the majors were happy to do so – capital expenditures rose significantly over the last decade for most of the largest oil companies.  But the main problem? Production for many…

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via OilPrice.com Daily News Update http://ift.tt/1gwvhCI

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