VOL. XLIV

No 51

17-December-2001

SUPPLY/DEMAND

Goldman Sachs Predicts E&PCutback By US-Based IOCs In 2002

A survey of US-based internationaloil companies (IOCs) has indicated they plan to cut exploration and production(E&P) capital expenditure dramatically in 2002 compared with 2001,according to Goldman Sachs, New York. In a report Energy: Oil E&Ppublished on 9 November, Goldman Sachs said discussions with E&P companymanagements point to a drop of as much as 20% in North American...