CANADIAN CAPITAL SPENDING TO SLIP 4.7% IN 1993

Total capital and exploration spending by the Canadian petroleum industry is estimated at $6.579 billion in 1993, a drop of 4.7% from estimated 1992 outlays. Last year Canadian capital spending of $6.9 billion represented a drop of 8.9% from 1991 outlays, according to an Oil & Gas Journal survey (see table, p. 28). All survey related spending estimates in this story are in U.S. dollars. All individual company spending estimates are in Canadian dollars. Canadian exploration and production

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