Oil and gas projects in deep basins account for most of deferred investments worth more than $200 billion made due to the oil price crash, analysts at consultancy Wood Mackenzie said in a report. Oil and gas majors have slashed capital expenditure budgets between 10-15 percent this year in response to oil prices halving over the past year. A large chunk of these cost savings have been made by deferring investment decisions in expensive projects, shelving more than $200 billion worth of investments, the analysts said. Estimates by rival consultancies have varied between $150-$200 billion. “By year-end we may be able to count the number of major upstream projects that made FID (final investment decision)during […]