Global E&P Spending May Rise 6% in 2014 to $712b, Barclays Says
2014-06-18 11:54:39.353 GMT
By Benjamin Dow
June 18 (Bloomberg) -- Spending increase of 6.2% y/y for
2014 would imply fifth straight year of growth since 2009
recession, Barclays says.
* Revises major integrated oil & gas spending to remain flat
y/y vs est. for 2.9% growth the broker made in Dec. 2013
* Sees strongest gains coming from North America, with growth
est. at 8.4% vs 7.3% in Dec.
* Raises est. for Canadian spending growth to 4.5% vs 3.2%
* Middle East estimated to have highest regional growth at
16%, Asia to have 8%, where NOCs, quasi-NOCs drive growth
* Cuts Latin America growth forecast to 5.5% vs 13% in Dec.;
Europe to contract 0.2% vs previous growth est. 7.8%
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James Cone
2014-06-18 11:54:39.353 GMT
By Benjamin Dow
June 18 (Bloomberg) -- Spending increase of 6.2% y/y for
2014 would imply fifth straight year of growth since 2009
recession, Barclays says.
* Revises major integrated oil & gas spending to remain flat
y/y vs est. for 2.9% growth the broker made in Dec. 2013
* Sees strongest gains coming from North America, with growth
est. at 8.4% vs 7.3% in Dec.
* Raises est. for Canadian spending growth to 4.5% vs 3.2%
* Middle East estimated to have highest regional growth at
16%, Asia to have 8%, where NOCs, quasi-NOCs drive growth
* Cuts Latin America growth forecast to 5.5% vs 13% in Dec.;
Europe to contract 0.2% vs previous growth est. 7.8%
Link to Company News:883 HK <Equity> CN <GO>
Link to Company News:XOM US <Equity> CN <GO>
Link to Company News:CVX US <Equity> CN <GO>
Link to Company News:ROSN RM <Equity> CN <GO>
Link to Company News:RDSA LN <Equity> CN <GO>
Link to Company News:BP/ LN <Equity> CN <GO>
Link to Company News:FP FP <Equity> CN <GO>
Link to Company News:REP SM <Equity> CN <GO>
Link to Company News:PETR4 BZ <Equity> CN <GO>
Link to Company News:ENI IM <Equity> CN <GO>
Link to Company News:OMV AV <Equity> CN <GO>
Link to Company News:COP US <Equity> CN <GO>
Link to Company News:CNPZ CH <Equity> CN <GO>
Link to Company News:KNOCPZ KS <Equity> CN <GO>
Link to Company News:131861Z AB <Equity> CN <GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Benjamin Dow in Moscow at +7-495-771-7735 or
bdow2@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
James Cone