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Special Report: E&P in sharper focus for 2010 capital expenditures

03/01/2010
By Marilyn Radler
OGJ's annual capital spending report shows that capital spending for all oil and gas projects in the US will decline 5% this year to $220 billion. Greater efficiency, slightly lower costs, and a rationalization of refining capacity will drive this decline.Upstream spending will dominate all outlays this year, but by a larger margin than is typical. Many integrated companies plan to shrink their downstream spending from 2009, while some plan to increase their exploration and production expenditures.Total spending for projects in Canada will climb 10% to $44 billion (Can.) this year. In Mexico, spending is set to increase about 5% from last year. Capital spending for oil and gas projects ou...
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