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Big oil counts the cost of tapping new discoveries

Extract from an excellent article by Ed Crooks of The Financial Times published 6 March 2014

Screen Shot 2014-02-18 at 18.34.00The issue has come to a head after three years in which the price of crude has drifted down… while costs have continued to rise. Chevron’s and ExxonMobil’s shares have both risen by 11 per cent in the past three years, and Total’s by 8 per cent, while Royal Dutch Shell’s have fallen 2 per cent.

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