CANADIAN OPERATORS ADJUST E&D SPENDING PLANS
Several Canadian companies plan to increase exploration and development spending in 1992, while others are cutting budgets. Imperial Oil Ltd. will increase E&D outlays by about 10% from 1991 levels to $635 million. Imperial, which lost money last year, said the spending increase will be financed from internal operations. The company is withdrawing from the fertilizer and polyvinyl sectors of the chemical industry and will concentrate its chemical operations on polyethylene.