INDUSTRY'S E&P FOCUS IS OUTSIDE N. AMERICA

Salomon Bros.' midyear update of industry's 1991 exploration and production budgets confirms large spending increases outside of North America planned in December 1990. The New York financial firm reported its latest survey of 235 operators, its most extensive sample, reveals a 13.9% increase in worldwide E&P budgets to $56 billion from $49.2 billion in 1990. The advance is in line with the 13.7% increase indicated in its December 1990 survey (OGJ, Jan. 21, p. 24).

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