Global E&P spend to hit $678 Bn this year

摘要

Oil and gas operators will invest a record US $678 Bn on exploration and production (E&P) this year - a 10% increase on 2012 spending, Barclays said in a new report. The Global 2013 E&P Spending Update from the bank gave a very upbeat outlook on the energy industry, with oil demand continuing to outstrip supply and oil companies spending more to find deposits in more remote places, such as deep-water plays, said the report.