Growth rate in E&P investments slowed to 3% since 1998

WORLDWIDE REVIEW-1Low crude prices in the spring of 1998 caused oil companies to tighten the reins on investments in 1999. Investments in all parts of the oil industry, from exploration to refining, felt the reverberating effects of this crash.This article, based on a study by IFP published in December 1999, documents the effects of the crash on industry investment.After a difficult period, investment levels for exploration and production will recover in the year 2000. Investment in the refining sector, on the other hand, suffered in 1998 and 1999 and will remain low in 2000.In a review of the past 2 years, upstream activities reached a record level in 1998. The oil crisis in the first ha...

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