Barclays Expects E&P Spending to Grow

摘要

Higher exploration and production outlays by international oil companies and some regional players — especially in Latin America —will help lift global exploration and production spending to an all-time high of $598 billion in 2012, according to Barclays Capital. But the firm said in its annual survey of upstream spending that actual expenditure would likely exceed its forecast, in part because it expects oil-field service costs to start rising around the middle of next year.