(EnergyAsia, February 13 2014, Thursday) — In an attempt to hold down rising cost, the international oil majors are expected to reduce capital expenditure (capex) from 2013’s US$270 billion by 20% over the next two to three years, predicts UK consultant Douglas Westwood. This would equate to about 7% of the total industry’s annual upstream…
UPSTREAM: Majors to reduce capital expenditure by 20% over next two to three years, says Douglas Westwood
Posted on February 13, 2014 by EnergyAsia