Factbox: Global oil, gas producers cut spending after crude price crash

Factbox: Global oil, gas producers cut spending after crude price crash

Capital spending for this year would be reduced to $1.2 billion and exploration spending to $400 million, while in 2021-2022 it expects capital spending to be "well below" $1 billion.. Norway's DNO ( DNO.OL ), which operates in Iraq's Kurdistan region, said it would cut its 2020 budget by 30% or $300 million and lower its dividend for the first half of the year.. Genel Energy Plc ( GENL.L ), which operates in Iraq's Kurdistan region, said it could generate excess cash at a sustained oil price of $40 a barrel, would be resilient with an oil price of $30 a barrel and will continue to pay a dividend of $0.10 a share.. Kosmos Energy Ltd ( KOS.N ) has suspended its dividend and said it aimed to reduce 2020 capital spending by 30% with a view to becoming cash-flow neutral with an oil price of $35.. Papua New Guinea-focused Oil Search Ltd ( OSH.AX ) cut its 2020 investment by 38% and capital spending by 44%.. Saudi Arabia's state-run oil company Saudi Aramco 2222.SE said it planned to cut capital spending for 2020 to between $25 billion and $30 billion, compared