CANADIANS SPENDING TO SLIDE 5.5%
Plans for capital and exploration spending by the Canadian petroleum industry show a drop of 5.5% to $9 billion for 1992. Canadian spending edged up 2.8% to 59.5 billion last year. Spending in 1991 was scaled back substantially from what had been budgeted. Oil & Gas Journal's survey last year showed a planned 16.7% increase in total outlays.