Two of the world’s largest energy groups, Royal Dutch Shell and ConocoPhillips , have set out plans for billions of dollars worth of cuts in their investment programmes in response to the plunge in crude prices . The cuts are part of a wave of reductions in capital spending announced by oil companies worldwide as they move to shore up their finances and protect dividends as cash flows are squeezed. The cuts have increased expectations that prices will rebound in the future as supply growth slows. More On this story On this topic IN Oil & Gas BP has said it will cut 300 staff and contractor jobs from its 3,500-strong North Sea business and freeze salaries across the company in an attempt to cut costs. It has also sold down its equity interests in two massive Gulf of Mexico oilfields and relinquished its position as operator. French major […]