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US$153 billion cut from global upstream capital expenditure... so far


US$153 billion cut from global upstream capital expenditure... so far

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.

What's included?

This report includes 1 file(s)

  • US$153 billion cut from global upstream capital expenditure... so far PDF - 436.02 KB 3 Pages, 0 Tables, 1 Figures

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • 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

In this report there is 1 table or chart, including:

  • 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
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