OGJ Newsletter

06/08/2009
General Interest — Quick TakesIEA: Global upstream budgets already down 21%Global upstream oil and gas budgets for 2009 have already been cut 21% compared with 2008, according to a report by Paris-based International Energy Agency.This is almost $100 billion, said IEA in a report on the impact of the financial crisis on energy investments worldwide, prepared for the G8 Energy Ministers Meeting in Rome May 24-25.The investment drop will continue into 2009, especially in the Organization for Economic Cooperation and Development region, and will impact both supply and demand, IEA reported.From October through April, more than 20 planned large upstream oil and gas projects were either po...
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