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Megaprojects And Unconventional Exploration To Drive Supermajors' Spending Higher In 2012

December 2011 | Industry Trend Analysis

Capital spending among the oil and gas industry's five supermajors - Exxon, Chevron, Shell, BP and ConocoPhillips - is set to rise substantially in 2012 on the back of elevated oil prices and rising project costs. An across-the-board 15% increase in spending would see the supermajors spend about US$138bn in 2012.

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