News Topics: Capital Budget Annoucements

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Brazil's Petrobras Cuts Spending Plan for 2nd Time in 3 Months
Tuesday, October 06, 2015 Petrobras, struggling with the biggest debt load among global oil firms, cuts $11 billion from capital spending plans for this year and next as Brazil's currency and oil prices slump.

New Norwegian Oil Firm OKEA Secures Funding
Wednesday, September 30, 2015 New oil and gas firm OKEA, which features a former Norwegian energy minister on its board, secures up to $200 million of investment from Seacrest Capital.

Statoil Cuts Capex for Johan Sverdrup Development
Friday, September 25, 2015 Statoil cuts the Phase One costs of developing one of Norway's biggest oilfield projects.

YPF Said to Plan 2016 Spending Cut as $77 Crude Disappears
Thursday, September 24, 2015 Argentina's YPF says it will cut spending up to 20 percent next year if a new administration lowers the domestic oil price.

YPF Said to Plan 2016 Spending Cut as $77 Crude Disappears
Thursday, September 24, 2015 YPF will cut spending by as much as 20% next year if a new administration lowers the domestic oil price nearer to international levels, according to people familiar with the plans.

Total to Slash CAPEX and OPEX by Billions of Dollars by 2017
Wednesday, September 23, 2015 Total will slash its capital and operating expenditure by billions of dollars within the next 2 years.

FinMin: Russian Oil Firms Should Revise Investment Plans amid Low Oil Price
Wednesday, September 23, 2015 Russia's oil companies should revise their investment policies to align themselves with low oil prices, says the country's finance minister.

Oaktree-led Bondholders Said to Fight Samson Chapter 11 Plan
Friday, September 18, 2015 Oaktree Capital and Blackstone gear up to fight bankrupt Samson Resources' plan to hand itself over to lenders led by Cerberus Capital Management.

Petrobras Says Project Financing Unaffected by S&P Downgrade
Friday, September 11, 2015 Petrobras says its financing is sufficient to fund projects in the medium term, despite the downgrade of the company's credit rating by Standard & Poor's.

Marathon Oil Plans To Cut 2016 Budget By At Least $600 Million
Wednesday, September 09, 2015 Marathon Oil says it will slash its capital budget next year by at least $600 million.

Continental Resources Cuts 2015 Budget On Low Oil Prices
Tuesday, September 08, 2015 Continental Resources says it would cut at least 11% from its 2015 capital budget due to the drop in crude prices.

Penn West Petroleum Lowers Capex, Suspends Dividend, to Cut Jobs
Tuesday, September 01, 2015 Penn West Petroleum has cut its 2015 capital budget for the third time this year, suspended its dividend and said it would lay off about 35% of its workforce as it copes with the slump in crude oil prices.

Pemex Investors Face Crude Reality With Credit Downgrade Threat
Monday, August 31, 2015 A year after Mexico gives oil giant Pemex financial independence to compete with global peers, things arenít looking good for the state-owned driller.

Rex International Holding Cuts Capex, Focuses on Oman and Norway Assets
Thursday, August 20, 2015 Singapore-listed Rex International Holding cuts capital investments and focus on key assets in Oman and Norway as it adapts to lower oil prices.

Australia's Santos Denies Plans to Launch Equity Raising
Monday, August 17, 2015 Santos denies plans to launch an equity raising, adding that it retains ample liquidity.

Sources: UAE's TAQA Close to Signing $3.1B Loan
Wednesday, August 12, 2015 TAQA is close to completing a $3.1-billion five-year loan that will be used to consolidate existing debts into a new, lower-cost facility.

Origin Energy Writes Down $244.7M on Australian Upstream Assets
Wednesday, August 12, 2015 Origin Energy writes down $244.7 million on its upstream assets in Australia.

Tethys Financing Deal with AGR Falls Through, Talks with Nostrum
Monday, August 10, 2015 Central Asia-focused Tethys Petroleum says its $47.7-million financing deal with AGR Energy has fallen through, but the firm is now in talks with Nostrum Oil & Gas.


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