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Despite Threats, Energy Companies Spending Little on Cybersecurity

Amid rising threats, including a recent attack on several U.S. power and natural gas suppliers, energy companies are now spending less than 0.2 percent of their revenue on cybersecurity, at least a third less than financial institutions, according to Precision Analytics LLC and The CAP Group LLC, security consultants that work within the industry. “It’s scary,” said Brian Walker, a former head of Marathon Oil Corp.’s global IT and now an independent consultant.

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Author: Doug Isenberg

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