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2011: E&P spending on the rise

01/03/2011
Steven Poruban Senior Editor With worldwide capital spending budgets of exploration and production companies expected to rise 11% in 2011 to $490 billion from $442 billion-according to the 402 oil and gas firms surveyed by Barclays Capital-this year will undoubtedly be an exciting one on which to report. Barclays most recent research note on the topic, "The Original Oil Services & Drilling Monthly: December 2010," released Dec. 23, 2010, stated that the strongest gains in capital spending year-on-year are expected outside North America. Here, spending is expected to rise by 12% to $363 billion vs. $324 billion in 2010. "The largest part of the increase is due to higher capit...
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