Insight
US$153 billion cut from global upstream capital expenditure... so far
This report is currently unavailable
Report summary
In response to the dramatic collapse in oil price, Wood Mackenzie has reduced its total global upstream capital expenditure (CAPEX) in 2015 and 2016 by US$153 billion. This represents a cut of 13%, from US$1.2 trillion to US$1 trillion, relative to our previous dataset. The deepest cuts come in the US Lower 48, but all regions are affected. More reductions are expected as companies continue to report upstream budgets.
Table of contents
- Discretionary spend will be the first to go
- US Lower 48 – where cuts have been quickest and deepest
- Deepwater investment takes a plunge
- Oil sands – spending to drop off slightly
- LNG – impact yet to be felt
- Wood Mackenzie’s response to the oil price drop
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
2024 guidance: upstream companies' capital budgets and production targets
Rolling company guidance tracker with 2024 investment plans and volume targets
$1,350
Asset Report
Bozshakol (Boschekul) copper mine
A detailed analysis of the Bozshakol (Boschekul) copper mine project.
$2,250
Insight
Q1 2024 pre-FID upstream project tracker: slow start but activity to pick up
Our Q1 2024 outlook for global pre-FID upstream projects.
$6,750