Oil firms may put projects on hold until costs fall

OIL companies may soon begin delaying projects in an attempt to take advantage of an expected fall in services costs, senior executives have told The Scotsman.

Several executives at exploration companies have predicted that the cost of oil services


Since peaking near $150 a barrel in late July, crude oil prices have fallen by around two-thirds, a move that is expected to lead to a fall in exploration levels.

This in turn is likely to force oil services companies