VOL. XLIII
No. 09
28-February-2000
UPSTREAM
International Oil Majors Slate 15-18% E&P Expenditure Increase For 2000 After Lackluster 1999
International integrated petroleum companies are expected to increase their annual capital expenditure this year by an average of 15-18%, according to Salomon Smith Barney of New York. However, the increase follows a 26% decline in upstream spending by the majors in the period 1998-99 and a fall in oil and gas production volumes for last year.
Salomon Smith...
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