Industry schedules 6% boost in U. S. expenditures for 1993

The petroleum industry plans to boost U.S. capital and exploration spending in 1993 after outlays slipped in 1992. Oil and Gas Journal's annual survey shows U.S. companies plant to spend $36.3 billion on domestic projects this year, up 6% from the $34.2 billion spent in 1992. Capital spending l...

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Bibliographic Details
Published in:The Oil & gas journal 1993-02, Vol.91:8
Main Author: Beck, R.J.
Format: Magazinearticle
Language:English
Subjects:
02 PETROLEUM
CAPITALIZED COST
COST
DEVELOPED COUNTRIES
ENERGY SOURCES
EXPLORATION
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
INDUSTRY
INVESTMENT
MINERAL RESOURCES
NORTH AMERICA
PETROLEUM
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
PRICES
PRODUCTION
RESOURCES 020700 > Petroleum-- Economics, Industrial, & Business Aspects
SURVEYS
USA
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Summary:The petroleum industry plans to boost U.S. capital and exploration spending in 1993 after outlays slipped in 1992. Oil and Gas Journal's annual survey shows U.S. companies plant to spend $36.3 billion on domestic projects this year, up 6% from the $34.2 billion spent in 1992. Capital spending last year was down 6.8% from the $36.7 billion spent in 1991. Earlier, capital outlays advanced 15.7% in 1989 and 8% in 1990. The recent low for spending was $25.2 billion in 1987 in the wake of the disastrous 1986 plunge in oil prices. Outlays planned for 1993 will be up a resounding 44.1% from 1987. Adjusted for inflation, 1993 spending will be the second highest since 1986, exceeded only by 1991. But inflation adjusted outlays during 1986-93 have been at the lowest levels since 1973. This is reflected most vividly in the depressed level of upstream activity. The paper discusses spending on exploration and production (E and P), price volatility, spending outside North America, non-E and P spending, petrochemicals, transportation, and individual company plans.
ISSN:0030-1388