E and P spending to focus on international areas

Journal Article · Fri Jan 31 23:00:00 EST 1992 · World Oil; (United States)

OSTI ID:5678237

Crandell, J B; Lau, C Y; Wilson, J R; Janec, S T ^[1]

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1. Salomon Brothers Inc., New York, NY (US)

This paper indicates that the oil and gas industry in the aggregate is not planning on much of a change this year from estimated amounts spent in 1991. As last year, the substantial shift of spending from the U.S. to international areas should continue. In Salomon's largest survey ever, 241 companies are planning on only a 1.3% increase in expenditures to $53.7 billion in 1992. The $53.1 billion projected to have been spent last year was below the amount forecast last June, which, in turn, was lower than was budgeted for 1991 in December 1990. Budgets in 1991 were significantly underspent in the U.S. and Canada by both independents and majors, but not elsewhere.

• OSTI ID: 5678237
• Journal Information: World Oil; (United States), Journal Name: World Oil; (United States) Vol. 213:2; ISSN 0043-8790; ISSN WOOIA
• Country of Publication: United States
• Language: English

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