Big Oil's Debt Hits A Record $184 Billion As Impairments Hit $101 BillionRupert Hargreaves
Last week I covered a research report from the folks at Oppenheimer, who have calculated that during 2015 the top 30 publicly traded US-based exploration and production companies collectively booked $101 billion in asset impairments compared with only $23 billion of impairments during 2014 and $9.3 billion of impairments in 2013.
These numbers highlight how badly the oil industry is suffering from the recent oil price slump. But writedowns aren't the only factor weighing on Big Oil.
According to research by the Wall Street Journal . . .
This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email email@example.com and we will get back to you as quick as humanly possible