A wave of write-downs, project delays and job losses is looming across Australia’s battered oil and gas sector, which has been forced into crisis mode as oil prices plummet to levels not seen for almost six years.
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Australia’s battered oil and gas sector faces asset write-downs, project delays and job losses from a fall in oil prices to almost six-year lows.
US benchmark oil prices slid another 4.2 per cent to dip below $US48 a barrel and have halved since the end of August.
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Original URL: https://www.afr.com/companies/energy/gas-industry-in-shock-braces-for-write-downs-20150107-12juvk
