Via Bloomberg, Citigroup analysts on the impact of declining oil prices:
- Will trigger a flood of oilfield writedowns starting this month
- Downturn threatens to wipe out more than $1.6 trillion in earnings for producing companies and nations this year
- Oil-market rout is exposing projects dating as far back as 2009 that were either poorly executed or bad ideas to begin with
- Shell, Europe’s largest energy producer, may have as much as 5 percent of its capital tied up in money-losing projects
- For U.K.-based BG Group Plc (BG/), the figure could be as high as 8 percent
More at the article: Oilfield Writedowns Loom as Market Collapse Guts Drilling Values
