Major oil and natural-gas companies around the world have shelved $200 billion of spending on new projects following the slump in crude prices.
According to a report by Wood Mackenzie Ltd., major energy groups have already delayed investment in more than 45 projects.
BP, Anglo-Dutch Royal Dutch Shell, US-based Chevron, Norway's Statoil, and Australia's Woodside Petroleum are among the big names shelving their investment plans.