Canada pays for cost structureOil, gas capital spending cut projected at 36%, compared to 30% in US, 17% worldwide; costs of conventional activity blamed Gary Park For Petroleum News
The evidence keeps pointing to a dismal year in Canada’s oil and gas upstream.
A Tristone Capital study is now projecting a 36 percent drop in Canadian capital spending to C$33 billion from C$52 billion in 2008 — compared with expected cuts of 30 percent in the United States and 17 percent worldwide....
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