VOL. XLV

No 26

1-July-2002

SUPPLY/DEMAND

Worldwide E&P Spending To HoldSteady In 2002, Says Lehman Brothers

Worldwideexploration and production (E&P) expenditures for 358 surveyed companiesare expected to decline by just 0.6% in 2002 compared with 2001, according toLehman Brothers of Washington. In the Oil Services and Drilling IndustryUpdate of 10 June, analyst James Crandell writesthat a similar survey carried out at the end of 2001 regarding 2002 spending plansshowed that companies...