Amoco Corp. will step up its 1991 capital and exploration budget to $4.35 billion.
That's a 10% gain from the 1990 budget of $3.95 billion and an 18% advance from the $3.7 billion the company estimates it will spend in 1990.
The 1991 figure is based on an expected crude oil price in the low $20s/bbl.
The biggest proportionate boost in spending-up about 150% to $350 million vs. 1990 outlays-will go to environmental projects, mostly for things required by rules currently in place.
Worldwide exploration and production spending will be up 11% from 1990's level, with about two thirds of 1991 spending earmarked for overseas and Canadian projects.
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