U.S. companies` capital outlays to hit highest level since 1991
Journal Article
·
· Oil and Gas Journal
OSTI ID:445568
US oil and gas company capital spending is expected to climb in 1997 for the third year in a row and to the highest level since 1991. Plans call for higher outlays upstream and downstream this year. OGJ`s annual capital expenditure survey shows US companies plan to spend $35.8 billion on US projects in 1997, up 7.7% from about $33.2 billion in 1996. Upstream spending in the US is expected to increase 10.5% this year to $20.1 billion, following a 15.3% increase in 1996. Downstream outlays are to increase 4.3% to $15.7 billion. This follows a decline of 9.9% last year, when downstream outlays slipped to $15.1 billion. Companies plan to continue to boost investments in areas outside of the US and Canada. The increased international spending is supported by higher prices along with the surge in economic growth and oil and gas demand in industrial and developing countries, particularly in Asia. The paper gives details on prices, US upstream spending, US downstream spending, Canadian spending, and non-North American outlays.
- OSTI ID:
- 445568
- Journal Information:
- Oil and Gas Journal, Journal Name: Oil and Gas Journal Journal Issue: 7 Vol. 95; ISSN OIGJAV; ISSN 0030-1388
- Country of Publication:
- United States
- Language:
- English
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