US oil and gas investment during the recession

US oil and gas investment in production continues to slip everywhere, unless China is involved, or ExxonMobil. ConocoPhillips Chairman discussed almost 2 billion U.S. dollars for investment pieces, that his company plans to introduce. Drilling in the U.S. fell in addition to the Baker-Hughes reporting that the U.S. rig count is another 38 to 1,005 last week, up more than 50% since mid-September. Low prices for natural gas and non-availability of credit to cut drilling capital budget by 17 percent this year. Total SA may delay a 230,000 b / d oil sands project. In Qatar, natural gas, refinery and petro-chemical plant projects have been suspended. New market for floating production systems dried with no new orders will be placed in the last quarter, the first such event since 1996. In Russia, Rosneft CEO said that the deficiencies in terms of investment and high taxes, can lead to a significant reduction in oil production over the next five years.
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