Sliding oil prices have wiped $ 393bn off the shares of 76 companies in the Bloomberg Intelligence North America Exploration & Production Index, and almost $40bn from the high-yield energy bonds that are issued by many shale drillers. Over the past five years, investors have invested more than $1.4trn in the oil and gas industry, the agency calculates, $286bn of which was invested in joint ventures and investments, $353bn was raised in IPOs and the subsequent sale of shares, and a further $786bn through take-out loans and issued bonds. Kommersant, Bloomberg