, Jan 29 (Reuters) – ConocoPhillips
and Occidental Petroleum Corp on Thursday
slashed exploration spending plans for this year, as the third-
and fourth-largest U.S. oil companies attempt to cope with a
steep slide in crude prices.
The cuts follow similar steps by rival Hess Corp
earlier this week while Royal Dutch Shell, Europe’s
largest oil company, said on Thursday it would reduce its
spending the next three years by $15 billion.