ConPhil cuts capex by 25%

摘要

US major ConocoPhillips plans to cut to its capital expenditure (capex) by 25% in 2016 to US $7.7 Bn, which is less than half the amount it spent in 2014. The capex spending by category are: $1.2 Bn (16%) to base maintenance and corporate expenditures; $3.0 Bn (39%) to development drilling programs; $2.1 Bn (27%) to major projects; and $1.4 Bn (18%) to exploration and appraisal.