November 10, 2015 / 7:54 AM / 2 years ago

BP says oil majors have axed 80 projects this year

ABU DHABI (Reuters) - Oil majors have cancelled a total of 80 projects across the globe this year because of low oil prices and cut capital expenditures by as much as $22 billion (15 billion pounds), BP’s head of exploration and production Lamar Mckay said on Tuesday.

A BP logo is seen at a petrol station in London January 15, 2015. REUTERS/Luke MacGregor/Files

Reporting by Dmitry Zhdannikov and Rania El Gamal; editing by Jason Neely

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