Report: Drillers Slashing $1 Trillion in Spending 2015-2020

|
chart going downWe now know why the oil and gas industry has laid off some 200,000 people over the past few years--they're not spending money. A new research report from powerhouse consulting firm Wood Mackenzie finds that global upstream development (i.e. drillers) have cut their spending from 2015-2020 by 22%. If you role in cuts to conventional drilling, the total amount cut from budgets (worldwide) from 2015-2020 is a staggering $1 trillion! One of the biggest expenses in a drilling operation is human resources--people. Unfortunately we don't have a copy of the £1000 (~$1,500) report to share with you. But we do have a high level overview provided by Wood Mackenzie...

To view this content, log into your member account. (Not a member? Join Today!)