VOL. XLVI

No 36

08-September-2003

SUPPLY/DEMAND

Exploration Spending And Success Declining, Says Deutsche Bank

Exploration budgets among commercial oil companies remain under downward pressure this year and drilling success is declining, according to a study by Deutsche Bank and Wood Mackenzie. In the report Sustainability Costs Money, published on 8 August, Deutsche Bank analysts Caroline Cook, JJ Traynor and Adam Sieminski say that the downward trends of 2002 in both exploration spending and...