Barclays Says Global E&P Spending to Eclipse $500 Billion

摘要

If Barclays Capital has it right, global spending on exploration and production is set to top $500 billion this year and mark the start of the industry's next multiyear, double-digit growth spending cycle. Barclays provided its mid-year capital spending forecast update Monday, and the results are significant: Global E&P spending should exceed $529 billion -a new industry record and a 16% increase over the $457.6 billion spent in 2010. Barclays' earlier survey in December anticipated a 10.8% uptick, to $489.5 billion.