latimes.com
The oil industry will endure at least another year of anemic prices leading to layoffs, such as those announced Thursday by Texaco Inc., and reductions in capital spending, executives said at an industry gathering in San Francisco. “This is a critical period for the industry,” Peter Bijur, Texaco’s chief executive, told fellow oil executives at this week’s annual meeting of the American Petroleum Institute, the industry’s trade group. “Perhaps at no time in a half-century have we faced the chall…
about 27 years ago