Oil & Gas Capital Expenditure Outlook, H1 2012


Global Oil & Gas Capital Expenditure Breaks $1 Trillion Barrier
Increased activity in the Exploration and Production (E&P) sector will be the primary driver in pushing oil and gas capital expenditure (capex) to an enormous $1,039 billion for 2012. The total oil and gas capex will increase by 13.4% this year over the 2011 total of $916 billion, as oil companies intensify upstream operations across locations as diverse as offshore Brazil, the Gulf of Mexico and the Arctic Circle. Investor confidence in new upstream projects is being driven by the increasing
number of oil and gas discoveries (242 last year alone), combined with consistently high oil prices and the arrival of new technologies that are giving the major firms access to deep offshore reserves that were previously technically and financially unviable.

National Oil Companies will be Highest Contributors to the Global Capital Expenditure in 2012
National Oil Companies (NOCs) are expected to lead in terms of capex, contributing approximately half of the total, with Integrated Oil Companies (IOCs) and independents making up the remainder. NOCs including Petroliam Nasional Berhad, China Petroleum & Chemical Corporation and Petroleo Brasileiro S.A plan on substantially increasing their E&P spending this year. In terms of capital expenditure for the 2012–2016 period, Petroleo Brasileiro S.A. ranks first globally amongst NOCs, whereas ExxonMobil Corporation is expected to be the number one IOC. Together, these two plan to undertake a massive oil and gas capex of $409 billion through to 2016.

GlobalData's report "Oil & Gas Capital Expenditure Outlook, H1 2012" provides a detailed analysis of the current and future capital expenditure position of national oil companies, as well as for integrated and independent oil and gas companies. It provides information and analyses of capital expenditure across the entire value chain of the global oil and gas industry. It also provides detailed information on oil and gas capital expenditure throughout North America, Asia-Pacific, the Middle East and Africa, Europe and South and Central America. The report covers the planned oil and gas projects in the upstream, refining, pipeline, liquefied natural gas (LNG) and petrochemicals sectors.

This report will provide you with...

Key findings and analyses of capital expenditure trends in the oil and gas sector

Oil and gas capital expenditure information for 2008–2012

Information and analysis of capital expenditure across all oil and gas segments – upstream, midstream and downstream

Capital expenditure by region: North America, Asia-Pacific, Middle East and Africa, Europe and South and Central America

Information on capital expenditure by company type, such as national oil companies, integrated and independent companies

Information on major planned oil and gas projects in the upstream, refining, pipeline, LNG and petrochemicals sectors



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