SALOMON BROS. SURVEY SHOWS FLAT UPSTREAM SPENDING FOR 1992

The yearly survey by Salomon Bros., New York, of upstream spending by the international petroleum industry shows little change for 1992 from 1991. A substantial shift from U.S. to non-U.S. exploration and production will continue, the firm's 10th and largest survey--241 companies--shows only a 1.3% increase in worldwide exploration and production spending to $53.7 billion in 1992 from $53.1 billion estimated in 1991.

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