Special Report: Capital budgets to rise this year in North America and worldwide

03/07/2011
Marilyn RadlerSenior Editor-EconomicsCapital expenditures for oil and gas projects in the US will increase 5% this year, according to OGJ's annual spending report. Upstream, midstream, downstream, and corporate capital outlays will total $284 billion. The pace of growth has slowed following last year's rebound from a drop in 2009.Oil and gas capital expenditures also will climb in Canada this year, up 3.7% to $52.6 billion. This compares with 37% growth in spending for such projects last year.In Mexico, Petroleos Mexicanos plans a 9% increase in capital spending this year. And outside North America, oil and gas capital expenditures are forecast to remain strong, also climbing from a year ...
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