Insight
2021 guidance: upstream companies' capital budgets and production targets
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
A total of 127 companies have revised their 2021 capital budgets. Our tally has upstream investment at US$243 billion or 8.1% more than in 2020. When it comes to output, E&Ps remain flat relative to 2020. Combined, the 116 companies that have announced 2021 production guidance expect to produce 10 kboe/d (0%) more than they did in 2020. We are also expanding coverage of capital budgets beyond upstream. Companies that disclose multi-year, multi-segment investment outlooks include BHP, BP, Chevron, Ecopetrol, Eni, Equinor, ExxonMobil, Petrobras, PTTEP, Shell, Total, and a few more.
Table of contents
- 2021 vs 2020 vs 2019: upstream capital budgets
- 2021 vs 2020: multi-segment capital budgets
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2021 vs 2020: production guidance
- Exchange rate assumptions
Tables and charts
This report includes the following images and tables:
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2021 vs 2020 vs 2019: upstream capital budget evolution by peer group2021 vs 2020 vs 2019: change in upstream capital budgets by peer group2021 vs 2020: change in total capital budget outlook by segment2021 vs 2020: change in production guidance by peer groupExchange rate assumptions (local currency unit per US$)
What's included
This report contains:
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