Majors take steps to address growth concerns

摘要

The majors' potential to grow their production and cash flow beyond 2020 has been undermined by a sharp reduction in upstream spending in the past two years. But a flurry of investment activity in recent weeks will help to allay concerns about their longer-term growth plans. The European majors have been the most proactive in replenishing their project portfolios this year. BP has made final investment decisions in Egypt, Trinidad and Tobago, Indonesia and the US Gulf of Mexico, while its peers left most of their deferred projects on the drawing board.