According to the report of the United States "Oil & Gas Online," the annual investment survey conducted by Lehman Brothers indicated that the global investment in oil and gas exploration and production will increase significantly in 2006. The company said that the main reason is that oil and gas prices are still high, and the cost of drilling is higher than the expectations of major companies.
The survey results of 325 companies surveyed show that global oil and gas exploration and production investment will increase by 14.7% from 2005 to reach US$238 billion. A survey of 247 companies in the United States shows that this year will increase investment by 14.9% to US$57 billion. All types of companies surveyed will substantially increase their investment budget for 2006. 85 companies outside North America said that oil and gas exploration and production investments are expected to increase by 14.9% to US$156 billion.
Lehman Brothers pointed out that current oil and gas prices are very sensitive to exploration investment. Many companies interviewed said that if oil prices fall back to US$45/barrel and gas prices fall below US$6 to US$6.5/million cubic feet, they will consider reducing their drilling budgets. In 2006, the company’s oil and gas exploration and production investment budget was based on West Texas Intermediate crude oil price of US$49.89 per barrel and natural gas price of US$7.64 per million cubic feet.
The survey results of 325 companies surveyed show that global oil and gas exploration and production investment will increase by 14.7% from 2005 to reach US$238 billion. A survey of 247 companies in the United States shows that this year will increase investment by 14.9% to US$57 billion. All types of companies surveyed will substantially increase their investment budget for 2006. 85 companies outside North America said that oil and gas exploration and production investments are expected to increase by 14.9% to US$156 billion.
Lehman Brothers pointed out that current oil and gas prices are very sensitive to exploration investment. Many companies interviewed said that if oil prices fall back to US$45/barrel and gas prices fall below US$6 to US$6.5/million cubic feet, they will consider reducing their drilling budgets. In 2006, the company’s oil and gas exploration and production investment budget was based on West Texas Intermediate crude oil price of US$49.89 per barrel and natural gas price of US$7.64 per million cubic feet.
V Ribbed Belt,V Ribbed Drive Belt,Ribbed Belt V,Ribbed Drive Belts
Acron Power Transmission (zhejiang) Co.,Ltd , https://www.acronpower.com